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Russia Eyes 2035 Grain Crop Boom With $70 Billion Investment Plan

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The Agriculture Ministry said on Tuesday it saw Russia’s grain crop rising as high as 150.3 million metric tons by 2035 in an “optimistic scenario” as it outlined a draft strategy to invest billions of dollars in grain infrastructure and logistics. The 2035 strategy, which has been sent to the government for discussion, would cost more than 4.4 trillion rubles ... Read More »

Russian wheat prices firm as USDA cuts crop forecasts

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MOSCOW: Russian wheat export prices rose slightly last week after the US Department of Agriculture (USDA) unexpectedly cut its crop forecasts and domestic producers held back sales in expectation of higher prices down the line, analysts said on Monday. Black Sea new-crop prices for wheat with 12.5% protein content were $194 a tonne free on board (FOB) at the end ... Read More »

Federal Security Service detains 9 customs officers of Domodedovo at ‘award ceremony’

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Operativists of ‘K’ directorate of the Federal Security Service arranged a fake award ceremony for employees of the customs office of Moscow airport of Domodedovo in order to gather together 9 workers of the service suspected of bribe taking. 8 frontline employees and a shift supervisor who arrived at the ceremony were detained, reports REN TV. In the coming days, ... Read More »

Russia & Iran see increase in trade tonnage, decrease in prices

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Iran and Russia, two major powers of the region, continue fruitful economic cooperation. The statistics on trade turnover between the two countries show significant growth. Trade between Iran and Russia from March 21 – April 20 amounted to 213,886 tons worth $87.84 million. The growth in tonnage was 48.45 percent, and the decrease in terms of costs equated to 54.6 ... Read More »

Russia’s Non-CIS Imports Down 2.9% In 1st Half Of 2019 – Customs Service

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MOSCOW : Russia’s imports from countries that are not part of the Commonwealth of Independent States (CIS) saw a 2.9 percent decrease year-on-year to $99.75 billion in the first six months of 2019, the Russian Federal Customs Service said in a statement on Friday. “According to preliminary customs statistics data, in January-June 2019, imports of goods from non-CIS countries amounted ... Read More »

Chinese Oil Drillers Are Back in Russian Arctic

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The 15,469-ton installation earlier called “Nan Hai Ba Hao” has been discharged from a heavy-lift vessel Red Zed I and is now ready to start working in the Kola Bay. According to the Russian port management authority Rosmorport, the operation was conducted on June 30 and included complicated navigational exercises. The rig will be located in Murmansk, a port city ... Read More »

Russian wheat forecasts hit by June heat, rain expected

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MOSCOW: Estimates of Russia’s wheat crop and exports were cut on Monday as analysts and a weather forecaster gave their latest assessment on the negative impact of June’s dry, hot weather. Russia, the world’s largest wheat exporter which ships its grain to Africa, the Middle East and Asia, started harvesting the 2019 grain crop in June when there was a ... Read More »

China decreases 26.2% log imports from Russia in first five months

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In January-May, log imports to China from Russia declined 26.2% y-o-y to 3.6 million m3 with import value dropped 27.2% to $439.8 million, according to China Customs data. U.S. log exports to China fell 39.5% to 1.6 million m3, export value decreased 44.6% to $338.4 million. Share of Russia in Chinese log imports slid 4.97 pp to 14.3% and share ... Read More »

Expect US to fight back as Russia & China lead BRICS away from dollar trade

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While Russia and China’s push to reduce the role of the US dollar in trade is catching on, don’t expect Washington to give up its global economic dominance without a fight, political expert Jack Rasmus, told RT. The two countries’ presidents, Vladimir Putin and Xi Jinping, recently announced their intention to expand the use of their national currencies –the ruble ... Read More »

Russia & China agree to significantly boost trade in ruble and yuan at the expense of the US dollar

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Moscow and Beijing have inked an intergovernmental agreement to switch to national currencies in bilateral trade and boost cross-currency settlements up to 50 percent as they ramp up efforts to move away from the US dollar. The document was signed by Russian Finance Minister Anton Siluanov and the head of the People’s Bank of China, Yi Gang, earlier in June, ... Read More »

Mark Zuckerberg: We can’t stop Russian election interference by ourselves

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Facebook CEO Mark Zuckerberg on Wednesday said the U.S.’s weak response to the 2016 Russian election interference has resulted in similar activity from more nation states like Iran. “The signal that was sent to the world was that ‘O.K. We’re open for business,’” Zuckerberg said at the Aspen Ideas Festival in Colorado. “Countries can try to do this stuff and ... Read More »

As Georgia’s Relations With Russia Sour, Moscow Says Its Wine Has Too

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Critics say it’s a tactic commonly applied by Russia to discipline its backyard. Russia insists politics has nothing to do with it. But as protests over Russian influence continue to rock Georgia, Moscow is hinting at a form of punishment its former Soviet dependencies know all too well: a ban on their most popular staples. Russia’s consumer protection agency announced ... Read More »

Russia leads as top crude supplier to China, overtakes Saudi

Oil pumps in operation at an oilfield near central Los Angeles on February 02, 2011.  World oil prices recently rallied close to $100 per barrel, as traders absorbed impressive fourth-quarter US economic growth and fretted over worsening political turmoil in Egypt. Most other commodity markets also won support this week from news that the US economic recovery picked up speed in the last three months of 2010, stoking hopes of strengthening demand for raw materials. The US economy grew at its fastest clip in five years in 2010, the Commerce Department reported, as the country bounced back from recession and fears of a double-dip recession ebbed.                                        AFP PHOTO/Mark RALSTON (Photo credit should read MARK RALSTON/AFP/Getty Images)

Russia became the largest crude oil supplier to China in May, supported by robust demand from private refiners and alongside a fall in supplies from Iran. Imports from Russia came in at 6.36 million tonnes in May, or 1.50 million barrels per day (bpd), data from the General Administration of Customs showed on Tuesday. On a barrels per day basis, ... Read More »

Japan mulls partially lifting ban on chicken meat from Russia ahead of leaders’ G20 talks

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VLADIVOSTOK, RUSSIA – Japan is considering partially lifting an import ban on chicken meat from Russia, with the two countries’ leaders expected to discuss the matter on the sidelines of this week’s Group of 20 summit in Osaka, government sources said Monday. Since 2005, Japan has banned imports of raw chicken meat from Russia due to concerns about bird flu. ... Read More »

China’s Economic Expansion is a Shot Across the Bow at Russia

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In Ancient Rome, the arrival of a conquering general from the front meant either a rapid change of political scenery or as much pomp and circumstance as could be drawn from its seven hills. With the lengths to which the Italian government went through to welcome Chinese President Xi Jinping last March to inaugurate Italy’s joining of China’s Belt and ... Read More »

Sanctions cost European economies $240 billion while Russia lost $50 billion

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Western economic restrictions have deprived the Russian economy of $50 billion, but the European Union has been hit harder, losing $240 billion since 2014, according Russian President Vladimir Putin. Other countries also felt the impact of anti-Russian sanctions, Putin said as he answered citizens’ questions during the annual Direct Line Q&A session in Moscow on Thursday. The US, which does ... Read More »

Fact-Checking Trump’s Orlando Rally: Russia, the Wall and Tax Cuts

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President Trump delivered remarks in Florida in a formal start to his re-election effort. President Trump officially began his campaign for re-election on Tuesday at a rally in Orlando, Fla., touching on themes and promoting accomplishments that are likely to be staples of his appearances from now until Election Day. Here’s a fact-check of his remarks. Russia “Nobody’s been tougher ... Read More »

Venezuela’s Collapse Frays Its Economic Ties With Russia

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MOSCOW — In his toughest moments, Venezuelan President Nicolás Maduro has turned to Russia for support. When the United States sanctioned the Venezuelan energy industry in January, Russia’s oil firm Rosneft helped to divert its oil exports to Asia. And when rumors of an armed American intervention reached fever pitch in March, two airplanes with Russian military technicians landed in ... Read More »

Eesti Energia suggests introducing customs tax to cheap Russian power

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Estonian state energy firm Eesti Energia has proposed introducing a customs tax to electricity imported by Estonia, Latvia and Lithuania from Russia. The company evaluated according to Estonian public television ETV that the new tax idea, currently not having the support of the Estonian government, would need the approval of Latvia, Lithuania and also of the European Union. Estonian Economy ... Read More »

China, Russia, Mongolia vow to strengthen trilateral cooperation

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BISHKEK: Presidents of China, Russia and Mongolia pledged to strengthen trilateral cooperation during their meeting here on Friday. The trilateral meeting, the fifth of its kind, among Chinese President Xi Jinping, Russian President Vladimir Putin and Mongolian President Khaltmaa Battulga was held on the sidelines of the 19th Shanghai Cooperation Organization (SCO) summit. The heads of state reviewed the achievements ... Read More »