Russian Economy General News: #9

Hole wrote:
Alrosa is a state owned company.

I know that building infrastructure is better than unnecessary military expenditures. I just wanted to show some of the   in this forum that money isn´t the problem.

Rostekh creates in the Vladimir region a cluster for the production of cyber-protected high-precision machine tools

State Corporation Rostek is creating a machine tool cluster for the development and serial production of modern high-precision machines and machining centers. The cluster based on the Kovrov Electromechanical Plant (KEMZ) will solve the problem of technological dependence of the Russian economy on foreign industrial equipment.

This was announced during a retreat in the city of Kovrov, Vladimir Region, Rostekh CEO Sergei Chemezov. The meeting on the removal of legislative barriers in the field of diversification of defense industry enterprises was also attended by State Duma Speaker Vyacheslav Volodin, deputies of the State Duma, representatives of the Ministry of Industry and Trade of the Russian Federation, and representatives of the legislative and executive branches of the Vladimir Region.

At the moment, to expand the production of machine tools at KEMZ, a new building with an area of ​​5 thousand square meters is being built. The commissioning of the new workshop will take place in 2019. Taking into account new production areas, the cluster will be able to produce up to 650 modern machines a year.

"Obviously, without an own machine tool that meets modern requirements, it is impossible either to import substitution or to create new technological productions. This is the basic branch of the economy, which provides opportunities for the development of other industries. The example of the Kovrov Electromechanical Plant shows that our approach to the transfer of military enterprises to civilian rails can solve not only the task of loading the capacities of defense industry enterprises during periods of decreasing state defense order, but also contribute to the elimination of technological dependence in critically important sectors on an all-Russian scale. Investments in the creation of the cluster will amount to about 460 million rubles until 2024, "stressed General Director of Rostekh State Corporation Sergei Chemezov.

The main task of the cluster is the maximum localization of the production of turning, turning, milling, vertical milling, horizontal milling machines of the most modern level, which will form the basis for the creation of "digital factories". The main advantage of Russian machines and machining centers is the domestic CNC system that will ensure their cyber-protection: the new generation machines guarantee a high level of information protection and the absence of hidden opportunities for unauthorized remote access to systems.

At the moment, at the capacities of KEMZ, in the framework of cooperation with enterprises that will enter the cluster, 10 models of machine tools are already being assembled. The first samples of 5-axis vertically-milling machining centers with programmed control that can produce details of the highest accuracy classes, for example, turbine blades or honeycomb components in aircraft building, are created. The share of Russian components in the KEMZ products, depending on the model of the machine, is now between 50 and 60%. By 2026 the share of foreign components is planned to be reduced to less than 10%.

"The machine tool cluster will include the leading Russian enterprises capable of creating the elements of machine tools, as well as research institutes ready to develop all the necessary documentation. The formation of such cooperation will allow to expand the line of equipment that will be produced at KEMZ in the interests of Russian industry in the shortest possible time, "added Rostekh head Sergei Chemezov.

The external debt of Russia in July 2018 decreased by $ 3.629 billion, or 7.1%, to $ 47.332 billion, according to the information published by the Ministry of Finance on the structure of the state external debt. The decline in state debt in July was due to the repayment of 20-year Eurobonds for $ 3.466 billion issued on July 24, 1998, the rate on them was 11% per annum.

In circulation there was one more issue of 1998 - placed on June 24, with a volume of $ 2.5 billion with a rate of 12.75%.

The current level of the external public debt of the Russian Federation is the lowest since the end of 2012 (as of December 1, 2012 - $ 40.873 billion, as of January 1, 2013, $ 50.769 billion), Interfax reported. In December 2012, as part of the external debt, arrears on state guarantees in foreign currency increased 11-fold to $ 11.390 billion. As of August 1, it was $ 10.493 billion.

Earlier it was reported that Russia stopped reducing its share in the US national debt. In June, the amount of treasury securities that Russia possessed amounted to $ 14.9 billion - the same as in May.

The external debt of Russia in July 2018 decreased by $ 3.629 billion, or 7.1%, to $ 47.332 billion, according to the information published by the Ministry of Finance on the structure of the state external debt. The decline in state debt in July was due to the repayment of 20-year Eurobonds for $ 3.466 billion issued on July 24, 1998, the rate on them was 11% per annum.

In circulation there was one more issue of 1998 - placed on June 24, with a volume of $ 2.5 billion with a rate of 12.75%.

The current level of the external public debt of the Russian Federation is the lowest since the end of 2012 (as of December 1, 2012 - $ 40.873 billion, as of January 1, 2013, $ 50.769 billion), Interfax reported. In December 2012, as part of the external debt, arrears on state guarantees in foreign currency increased 11-fold to $ 11.390 billion. As of August 1, it was $ 10.493 billion.

Earlier it was reported that Russia stopped reducing its share in the US national debt. In June, the amount of treasury securities that Russia possessed amounted to $ 14.9 billion - the same as in May.

Austin wrote:Check the pics in the link , hard to believe 1998 was this bad

https://www.vedomosti.ru/lifestyle/galleries/2018/08/17/778457-ocheredi-1998-goda-kuda-stoyali-rossiyane


I read during 1998 and year preceding it , The Short Term Debt government offered for 1 year earned a yeald of almost 40 %

miketheterrible wrote:I think Abromovich fled the country cause he was worried his Jewish Shekels  stolen Rubles were going to vanish.

miketheterrible wrote:Pretty much.  I would freeze all of his assets in Russia if I was Rus gov.

Media: Japan wants to deliver cargo via Transsib

It is expected that in the trial deliveries will be from five to ten companies, mostly Japanese. During the experiment, the price and time of delivery, the procedure for customs clearance and other factors that can affect the quality and final cost of the goods transported will be determined.

Now the goods between Japan and Russia are delivered basically either by air or by sea. According to the Japanese Ministry of Transport, the transportation time by sea is 53 to 62 days. Aircraft delivery occurs many times faster, but is still highly expensive.

According to experts, transportation of goods along the Trans-Siberian Railway will allow reducing company expenses to 40 percent, and the delivery time will be about 20-27 days.

Rostekh confirmed that UAC will be included in the state corporation

GunshipDemocracy wrote:

miketheterrible wrote:Pretty much.  I would freeze all of his assets in Russia if I was Rus gov.

They did - its called now Gazprom  



Sounds good no US/NATO fleeds in Transsib route

Media: Japan wants to deliver cargo via Transsib

It is expected that in the trial deliveries will be from five to ten companies, mostly Japanese. During the experiment, the price and time of delivery, the procedure for customs clearance and other factors that can affect the quality and final cost of the goods transported will be determined.

Now the goods between Japan and Russia are delivered basically either by air or by sea. According to the Japanese Ministry of Transport, the transportation time by sea is 53 to 62 days. Aircraft delivery occurs many times faster, but is still highly expensive.

According to experts, transportation of goods along the Trans-Siberian Railway will allow reducing company expenses to 40 percent, and the delivery time will be about 20-27 days.

https://ria.ru/economy/20180819/1526803230.html

Rostekh confirmed that UAC will be included in the state corporation

https://ria.ru/economy/20180820/1526862942.html

william.boutros wrote:

GunshipDemocracy wrote:

Media: Japan wants to deliver cargo via Transsib

Russian development of its rail link and optimization of transport costs is a major geopolitical gain. Imagine the economical and political impact of a large portion of world's trade passing through Russian territory.

GunshipDemocracy wrote:
Me thinks it too. One can imagine Chinese, Japanese and  Korean goodies go to  Europe and European back to Asia. With time who knows hopefully Indian too. Dont forget about norther route. Let me guess. US/NATO want to have "freedom of navigation" in Russian Arctic but not for Alaska or Gulf of Mexico

william.boutros wrote:

GunshipDemocracy wrote:
Me thinks it too. One can imagine Chinese, Japanese and  Korean goodies go to  Europe and European back to Asia. With time who knows hopefully Indian too. Dont forget about norther route. Let me guess. US/NATO want to have "freedom of navigation" in Russian Arctic but not for Alaska or Gulf of Mexico

In order for that to work Russia also needs to be pragmatic in its relation with neighboring states by improving ties with Japan, help in sponsoring a North-South Korea agreement to the benefit of the Russian Economy (rail and gas pipelines) and find some common ground with central Europe.

Also Russia should actively hinder the establishment of historically alternate routes cease participation in anti piracy operations that do not serve its interests.

Analysts predicted Russia's profit from grain exports of $ 9-10 billion

GunshipDemocracy wrote:

Analysts predicted Russia's profit from grain exports of $ 9-10 billion

https://iz.ru/779564/2018-08-20/analitiki-predskazali-pribyl-rf-ot-eksporta-zerna-v-razmere-9-10-mlrd

Russian-owned assets in the United States worth hundreds of millions of dollars have been frozen as part of Washington’s sanctions campaign against Moscow since 2013, said US Deputy Secretary of the Treasury Sigal Mandelker.

“The actions of the US Treasury have had significant consequences for the financial interests of individuals and businesses that were affected, including the blocking of hundreds of millions of dollars of Russian assets in the United States,” Mandelker said on Tuesday.

Mandelker, who is responsible for sanctions by the US Treasury, added that “Russia is taking note of these impacts."

Foreign direct investment into Russia has fallen five percent since 2013, with direct investment from the US falling 80 percent, according to her statement.

Mandelker is expected to tell Congress later on Tuesday that while Russia's “malign activities” continue, Moscow’s “adventurism” has been checked by the knowledge that the US can bring more economic pain through additional sanctions.

The Trump administration has sanctioned 217 Russian-related individuals and entities, including oil company Surgutneftegaz and power company EuroSibEnergo, since January 2017. Targets include heads of major state-owned banks and energy firms, and some of President Putin's closest associates.

"As companies across the globe work to distance themselves from sanctioned Russian persons, our actions are imposing an unprecedented level of financial pressure on those supporting the Kremlin's malign agenda and on key sectors of the Russian economy," Mandelker said in the prepared remarks.

Moscow has repeatedly said that introduction of sanctions by Washington is counterproductive, with the Russian Foreign Ministry calling them illegitimate and useless.

Earlier, the RBC newspaper reported that eight entrepreneurs from the "London list" asked Vladimir Putin to guarantee that, upon their return to Russia, they would not be sent to the pre-trial detention center

Russian development of its rail link and optimization of transport costs is a major geopolitical gain. Imagine the economical and political impact of a large portion of world's trade passing through Russian territory.

GarryB wrote:
Their attempts included legislation that prohibits the ownership of pipelines and the gas travelling down that pipeline as being a monopoly...

GarryB wrote:

The fundamental problem however is that the EU is mad... well parts are anyway... It is prepared to sabotage the piping of energy from Russia, to support the fiercely anti Russian Ukrainians....

what similar laws will they formulate regarding rail and shipping transport across Russia to Asia?

Big_Gazza wrote:, it will be exempt from the 3rd Energy Package requirements...  amazing...  the double standards are simply breathtaking.