In March, China increased imports of coking coal from Russia by more than twice compared to the same month in 2021. Russia sells fuel at a discount against the background of an embargo by a number of states, as Bloomberg reports. According to Chinese customs data, in March, imports of Russian coking coal, which is
Russian President, Vladimir Putin, instructed on Monday, April 18, to accelerate the transition of Russia’s foreign trade to rubles and national currencies of other countries. He noted that the restrictions imposed by unfriendly countries against the Russian Federation “affected the opportunities of domestic business, hindered the logistics of export and import supplies, and also created
The Western media claim that the sanctions applied against Russia will be enough to pressure the government to change its course of actions in Ukraine. However, not only geopolitical analysts and economists consider this claims baseless, but also corporate professionals, whose companies still import Russian products, despite pressure from some countries. Brazil and Russia are
French fashion brand Chanel joined anti-Russian sanctions and prohibited to sell its production to Russians, as well as take their products to Russia and use them there. This was stated by the Russian blogger Lisa Litvin who tried to by Chanel bag in Dubai. Chanel’s ban on selling goods to residents of Russia became known
Russia has offered Europe to continue paying for gas in euros, but through a Russian bank and with the mandatory opening of a ruble account. Several sources explained that for unfriendly countries, the payment from the buyer to Gazprom would have to be made exclusively in Russian currency. The sources do not indicate which bank
The Government of the Russian Federation has approved the legalization of parallel imports, which allows suppliers of imported products to sell them in the Russian Federation without the permission of the trademark owner. “Another signed document concerns the so-called parallel import. The purpose of this mechanism is to satisfy the demand for goods containing the
The speaker of the State Duma, Vyacheslav Volodin, proposed to expand the list of export goods for which payment can be taken in rubles. He offered to sell not only gas for rubles, but also fertilizers, grain, oil, coal, metals, and timber. In his Telegram channel, Volodin called on European politicians to “stop looking for
A system allowing direct rupee-ruble payments in trade between Russia and India could be launched this week, the president of the Federation of Indian Export Organizations (FIEO), A Sakthivel, told. According to the official, the Indian government is working on a proposal to allow up to five nationalized Indian banks to be engaged in the
The Group of Seven major economies collectively agreed to reject Moscow’s demand to pay for gas imports from Russia in rubles, and now Germans have been already advised to put on sweaters and set the temperature at home equal to the outside one. Russian President Vladimir Putin has authorized the government, the central bank, and
The head of the Federal Antimonopoly Service (FAS) of Russia, Maksim Shaskolsky, held a meeting with Wildberries CEO, Tatiana Bakalchuk, during which he discussed the issue of legalization of parallel imports in Russia. “The legalization of parallel imports in the current conditions will contribute to an increase in the number of economic entities importing goods
Grocery sales in retail in monetary terms increased by almost 50 per cent in Russia in late February and early March compared to the same period in 2021. The total sales of chains during this period in monetary terms increased by 17 per cent, which is stated in a study by Nielsen, the largest independent
Turkish consumers fight and stampede in local supermarkets to buy sunflower for oil due to sudden shortages. This might seem ridiculous: Turkey is a candidate for EU membership, and in some respects it fits the bill perfectly. However, it is also true that the social fabric and disposition in the country is largely Middle Eastern
Russia may ban the export of wheat, rye, barley, and corn from March 15 to June 30, which was announced on Monday, March 14, by the press service of the Ministry of Agriculture of the Russian Federation. “The Ministry of Agriculture, together with the Ministry of Industry and Trade, has prepared a draft government decree
