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    British Investment Into Moscow Increased 40% In 2020

    British companies imported US$10.5 billion from Moscow in first nine months of 2020 Chemical products, mechanical equipment and machinery, and I.T. are popular exports to Britain.   Offset Agreements prove attractive for British businesses in Russia  

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    Uzbekistan and Cuba Become Observer States Of The Eurasian Economic Union

    The Eurasian Economic Union (EAEU) agreed to give Uzbekistan and Cuba observer status on Friday last week (December 11). Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia are full members of the EAEU, while Moldova also has observer status.

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    A Record Number Of Ships Used The Arctic Northern Sea Passage In 2020

    A record number of vessels have in 2020 sailed through Russia’s Northern Sea Passage this year, according to reports from Reuters. Norway’s Center for High North Logistics (CHNL) logistics foundation has recorded 62 full transit voyages through the Northern Sea Route as of Wednesday this week (December 9). That is against 37 transits in 2019.

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    Russia And Iran Preparing For SWIFT Banking Network Cutoff

    Iran, which is facing increasing US sanctions and is expecting its banks to be cut off from the global SWIFT banking network next week, is calling on Russia to create a substitute for the SWIFT international banking-payment system for the member-states of the Shanghai Cooperation Organization. Tehran’s initiative comes amid fears that the Biden administration[…..]

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    Russia, Netherlands Disagree Over Double Tax Treaty Changes

    Having concluded successful renegotiations with Cyprus, Malta and Luxembourg over Double Tax Treaty agreements, Russia is finding the Netherlands a harder nut to crack in amending the terms. The result may be a suspension of the DTA altogether. Russia has been amending these treaties to clamp down on what Moscow sees as overly friendly tax[…..]

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    Moscow, Beijing Sign Cooperation Agreement

    Moscow-Beijing annual trade worth US$20 billion Cities connected via Trans-Siberian railway Agreement to develop city infrastructures, health programs and expand trade 

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    Russia Begins Global Ramp Up Of Covid-19 Sputnik V Vaccine

    Op/Ed by Chris Devonshire-Ellis  Mass vaccinations commence this month in Russia Manufacturing partnerships with other countries Sovereign Wealth Funds Overseas manufacturing from January 2021 Production scale issues over sheer size of populations   The Russian ‘Sputnik V‘ Covid-19 vaccine has entered into mass production and will be available for Russian nationals from the middle of December.[…..]

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    Russia, Luxembourg Amend Tax Treaty

    Russia and the Grand Duchy of Luxembourg have agreed an addendum to the 1993 tax convention between the two countries. The Ministry of Finance confirmed that the conventional withholding tax rate on dividends and interest will be raised to 15%, with some exceptions.

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    Digital Ruble: Potential Use For International Money Transfers

    Russia’s Central Bank is assessing the potential use for a Digital Ruble with Olga Skorobogatova, the bank’s First Deputy Chairperson of the Bank of Russia Olga Skorobogatova stating that  the digital ruble could be used in the future for international money transfers.

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    Russia To Offer Permanent Residence Visas To Foreigners For US$130,000

    Foreign nationals are being made more welcome to live and work in Russia with the Russian Economic Ministry planning to introduce a golden visa scheme, offering foreigners a permanent residency permit in exchange for investing in the Russian economy. Draft legislation drawn up by the Economic Ministry seeks to attract foreign investors by offering residency rights[…..]

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