On July 24, 2020, the Russian Government issued Decree 891, effective from 19th June 2020, which approves new rules for maintaining statistic data of mutual trade of the Russian Federation goods with the Eurasian Economic Union (EAEU) countries of Armenia, Belarus, Kazakhstan and Tajikistan. The Decree contains several important changes:
The Russian Biotech group Biocad is in talks to produce a Covid-19 vaccine in Shanghai, where it has a joint venture with Shanghai Pharmaceuticals. The treatment is being developed by Russia’s Vector State Virology Institute, Dmitry Morozov the CEO of the St Petersburg-based company said in an interview with Reuters. The vaccine – based on[…..]
Huawei has dramatically ramped up investment in Russia due to US restrictions against the tech giant, CEO Ren Zhengfei has said. “After the United States included us in the Entity List, we transferred our investment in the United States to Russia, increased Russian investment, and have expanded our Russian science team” Ren said in a speech[…..]
In the first half of 2020, the Russia’s online video market grew by 56% year-on-year with a value of 18.6 billion rubles (US$250 million), according to the information and analytical agency TelecomDaily.
Op/Ed by Chris Devonshire-Ellis Russia / Turkmenistan bilateral trade doubled in H1 2020, compared to the same period in 2019 and amounted to US$87 million, the Russian Ministry of Agriculture has stated. The amounts may appear small but are significant in confirming the impact that increasing infrastructure development is having on Turkmen trade. The country has[…..]
Russia’s ARMY-2020 trade fair is currently being held just outside Moscow, with domestic manufacturers providing previews of some of the new products on offer. One of the most exotic is the ‘Drozd’ (Songbird) amphibious vehicle presented by the Baltic Machine-Building Company (BMK) of St.Petersburg.
Russia and Cyprus have announced that they have resolved a dispute concerning the two countries’ double tax agreement. We commented on the case in our August 14 article here after the Russian Ministry of Finance announced that it would terminate the Russia-Cyprus double tax agreement, after negotiations broke down on a revision to increase tax[…..]
Russia’s Expobank has become the first lender in the country to issue a loan secured by cryptocurrency tokens, saying that it issued an individual loan to a Moscow businessman earlier this week, with the customer putting up Waves crypto tokens as collateral for the agreement.
It’s an old theme but national trade elsewhere is diminishing US dollar use longer term Op/Ed by Chris Devonshire-Ellis Russia and China have successfully managed to reduce the use of the US dollar in their bilateral trade dealings. It now accounts for just 46% of all bilateral trade in Q1 this year, down from 90%[…..]
Op/Ed by Chris Devonshire-Ellis The situation that arisen in Belarus is a last wrinkle in the collapse of the Soviet Union that is now playing out. With incumbent President Alexander Lukashenko in power for the past 26 years, the recent elections – which gave him an implausible 80% of the vote, has subsequently resulted in[…..]