Russia economic and geopolitical initiatives in 2016

India and Russia signed 16 agreements, including areas of helicopter and nuclear reactor manufacturing

Russia and China sealed a raft of energy deals during President Vladimir Putin’s visit to Beijing on Saturday, strengthening economic ties while pledging to preserve the strategic balance of power among nations.

Russia and Israel intend to sign a free trade agreement. The two sides agreed on reciprocal purchases of agricultural products, setting up joint ventures and the introduction of agricultural high-tech.

Prime Minister Hun Sen of Cambodia and a delegation of senior government officials signed eight new agreements with Moscow, pushed for increased trade ties and agreed to review all bilateral agreements signed in the past six decades.

Russia and Greece are looking closely at energy and trade deals, including progress on a new Russian pipeline.

Desire amongst European commerce for establishing a free trade zone between the EU and the Eurasian Economic Union (EEU).

Countries of the Shanghai Corporation Organisation (SCO) and the EEU are preparing an agreement that could, in terms of the sheer number of people it would bring under its scope, become the world’s ‘most ambitious’ free trade arrangement.

From trade to energy to military hardware, Russia is wooing South-east Asia as it continues to diversify its trading partners.

Russia created its own payment system called MIR.

Russia has proposed to NATO a “positive program” for developing relations, aimed at decreasing tensions between Moscow and the US-led military bloc.

Russia’s Deputy Prime Minister, Dmitri Rogozin announced Moscow’s intention to arm Serbia with sophisticated weaponry, including S-300 surface-to-air missiles.

Serbia could be next to turn its back on the EU after a study revealed young citizens prefer Russia’s model of society.

Russian prosecutors have completed probes into thousands of cases against foreign citizens and decided to hand over 570 people suspected of committing serious crimes to the countries seeking their extradition.

PricewaterhouseCoopers has reported a 20 percent drop in economic crime in Russia since 2014.

Medvedev orders state agencies to switch to Russian-made software in 3 years

Russian state company Rostec has reached a €1 billion deal with Iran to build a 1.4 gigawatt power station. Rostec is the first Russian company to get a firm contract with Tehran since the ending of sanctions.

A five-year strategic cooperation plan was recently agreed between Moscow and Tehran during the visit by co-chair of the Russia-Iran Joint Economic Commission.

Russia’s oil major Rosneft and Venezuela’s state-owned Petroleos de Venezuela (PDVSA) have signed a number of agreements extending their strategic cooperation, including plans on oil and petroleum products trading.

Russian energy major Rosneft has begun drilling an offshore exploration well in Vietnam, according to the company.

The expected recoverable reserves of natural gas are estimated at 12.6 billion cubic meters with 0.6 million tons of gas condensate.

Components for Iranian satellites may be produced by Russia’s Roscosmos space corporation, said Russian

Communications Minister Nikolai Nikiforov after meeting with Iranian counterpart Mahmoud Vaezi in Moscow.

Moscow may file a case seeking to freeze Ukrainian assets abroad if Kiev continues to refuse to pay back the $3 billion debt to Russia.

A Berlin court has confirmed former investors in bankrupt oil firm Yukos have withdrawn a lawsuit to seize Russian state assets in Germany.

Russian officials will visit Turkey shortly to discuss the return of agricultural products currently banned from the Russian market.

Turkey has confirmed it’s ready to continue negotiations on the Turkish Stream gas pipeline project.

With the political situation stabilizing after the attempted coup in Turkey, Russia has lifted the restrictions on its citizens from flying to the country.

A consortium of major German companies has offered an over €2 billion investment in the Moscow-Kazan high-speed railway.

For the second year running, Russia is the world’s top wheat producer with exports of 22.5 million metric tons of grain this year, according to the US Department of Agriculture.

The Russian government has approved a deal to loan up to $11.38 billion to build the Rooppur nuclear power plant in Bangladesh.

Foreign investment funds have been buying shares in Russian companies for a second week. In the first two weeks of July, Russia’s equity market attracted $98.8 million in foreign investment.

From January to June 2016, Russia produced 35 percent more tractors and harvesters than in 2015.

Banks in Russia have requested direct communication with SWIFT after the global interbank money transfer system was compromised by hackers.

The Eurasian Economic Commission (EEC) has approved tax-free imports of vehicles equipped with electric engines. This will make buying an electric car in Russia about 15 percent cheaper.

Russia’s nuclear corporation has announced its business interests on the Crimean peninsula, managing to avoid Western sanctions.

Revenue earned by Russia’s state nuclear agency Rosatom abroad grew 20 percent last year to $6.2 billion from $5.2 billion in 2014. The company expects to reach $23 billion by 2018.

A number of leading Russian companies plan to invest $4.6 billion to create an industrial zone next to the Suez Canal by 2035.

European Neighbourhood Policy Commissioner Johannes Hahn has asked Russia to end the measures restricting the transit of Ukrainian goods.

Swiss multinational bank Credit Suisse has announced plans to shut down its private banking unit in Russia and redirect client accounts to Switzerland.

Businessmen from Saudi Arabia have expressed an interest in investing in Russia’s Crimea, according to the region’s ministry of construction and architecture.

Investment by Indian companies in Russia’s oil and gas sectors could reach $15 billion over the next four years.

The UN’s Food and Agriculture Organization (FAO) has raised its forecast for this year’s global cereal production to over two billion tons, and is projecting a record harvest for Russia.

Countries that backed sanctions against Russia have suffered significant export losses with products targeted by the Russian embargo accounting for only a small fraction of the loss.

Russian Prime Minister Dmitry Medvedev said the country is gaining momentum as one of the world’s leading exporters of agricultural products.

Chinese companies have invested 16 billion yuan ($2.4 billion) in development projects in Russia’s Far East.

Russia has increased crude exports by almost five percent to 5.55 million barrels a day in the first half of the year compared to 2015.

Russia’s manufacturing sector has seen its most rapid expansion in 19 months, as output and new orders rose in June.

A new transportation system that transport commuters around Moscow at speeds of up to 1,200kph could commence construction in December.

Exports of Russian oil to China have jumped almost 42 percent to over 22 million tons from January to May.

An agreement to produce high-speed trains has been signed between Russian and Chinese firms.

The impact of the UK leaving the EU on the Russian economy will be limited.

Russia’s food and safety watchdog has warned Belarus it may put restrictions on dairy products from the country if it continues to export poor quality and unsafe food products.

The assembly of Mercedes-Benz vehicles at the new plant in the Moscow Region is expected to be launched in 2019.

Russia’s biggest shopping mall operator, IKEA Centres Russia, is planning to spend over $2.1 billion to upgrade its 14 premises in the country.

Russian company Summa Group signed an agreement on Tuesday with Los Angeles-based Hyperloop One to explore building a futuristic, high-speed transport system in Moscow.

The development of production facilities and supplies of products are the key sectors of Russia’s cooperation with Cuba.

The Russian government is considering selling a 19.5 percent of its shares in oil major Rosneft to China and India.

Russia and Asian countries should create a vast economic space, said President Vladimir Putin.