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    Russia’s Transport & Logistics Trends For 2023

    By Mark Veshnyakov, Asia Import Group   In 2022, the Eurasian logistics services market was adjusting to the new conditions. Many of the usual routes for cargo transportation from abroad to Russia had to be set aside, and there were problems with paying for supplies from Europe. Major players such as TNT, FedEx, UPS, MSC,[…..]

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    Chinese Yuan Overtakes Euro In Russian Foreign Trade Business Settlements

    The Chinese Yuan has become more popular than the Euro in foreign exchange settlements of Russian SMEs this year, according to a study by Promsvyazbank (PSB). China’s currency was used in 31% of all transaction against 28% utilizing Euros, a trend that can be explained by the EU imposing sanctions upon Russia, freezing Russian Euro-denominated[…..]

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    Kazakhstan’s VTB Bank Starts Issuing Russian MIR Credit/Debit Cards

    The Russian-owned Kazakh subsidiary of VTB Bank has begun issuing Russian MIR cards for its retail customers. At present, these are virtual payment cards, although plastic versions are scheduled to be issued during Q1 2023.

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    Russia’s Medvedev Meets With China’s Xi Jinping in Beijing

    By Chris Devonshire-Ellis  Dmitri Medvedev, Russia’s ex-President now serving as the deputy chairman of Russia’s Security Council has met with Chinese President Xi Jinping in Beijing. The meeting was scheduled for Medvedev to take a personal letter from Russian President Putin to Xi. It’s contents were not disclosed but are likely to have included comments[…..]

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    Russia and India Drop All US Dollar And Euro Use In Bilateral Trade & Settlements

    Bilateral trade set to boom in 2023-24 as numerous export multipliers come into the trade picture  By Chris Devonshire-Ellis       Russia and India have agreed to drop all use of the US dollar and Euro in bilateral settlements, according to a statement made by Zamir Kabulov, a Director of Russia’s Ministry of Foreign Affairs.

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    Most Popular 2022 Overseas Destinations For Russian Tourists

    Greece a big winner as a popular destination   The Ukraine conflict has shifted many supply chains, while EU visa restrictions and issues with Russians being able to access their own money while overseas has resulted in a major shift in Russian outbound tourism this year.

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    Russia, China Hold Joint Naval Exercises In Maritime Area Around Shanghai

    Chinese and Russian navies will hold the joint naval exercise “Joint Sea 2022” in waters east of the sea area from Zhoushan to Taizhou, east China’s Zhejiang Province, starting from today (December 21), according to the Chinese navy. This is a region extending from the mouth of the Yangtze River to islands east off Ningbo,[…..]

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    Russia, Iran, Establish Direct Banking Arrangements Without SWIFT

    Iran-EAEU trade has been growing at rates in excess of 70% per annum   Russia’s second largest bank, VTB, has launched a new service allowing individuals and businesses to transfer money to and from Russia and Iran, the lender announced on Monday (December 19).

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    Russian – Indonesian Trade Up 50% In 2022

    Trade between Russia and Indonesia has increased by 50% this year despite geopolitical tensions, the Russian Ambassador to Indonesia Lyudmila Vorobyeva has stated.

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    Russia Lays Out Terms For Future Bilateral Trade & Investment

    Bilateral settlement in Rubles has doubled in 12 months, while SWIFT payment mechanism alternatives are developing fast      By Chris Devonshire-Ellis   Russian President Vladimir Putin has laid out the criteria for foreign countries and businesses who wish to develop trade and investment with the country, saying that Russia will emphasize mutual investments in the[…..]

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