Russian Economy General News: #9

par far wrote:"EU, CHINA, RUSSIA ESTABLISH NEW PAYMENT SYSTEM WITH IRAN TO TRADE DESPITE US SANCTIONS."

https://southfront.org/eu-china-russia-establish-new-payment-system-with-iran-to-trade-despite-us-sanctions/

The ruble's share in the settlements with some EAEC countries with Russia exceeds 70%

MOSCOW, September 25 (Itar-Tass) - RIA Novosti. The share of the ruble in bilateral calculations of certain countries of the EAES with Russia exceeds 70%, the CBR seeks to create conditions for increasing this share in trilateral and more complex settlements, said the first deputy chairman of the Central Bank, Ksenia Yudaeva, at a meeting of the Duma's financial market committee.

"The role of the ruble is growing in principle in the space of the Eurasian Union, the share of the ruble in settlements with individual countries exceeds 70%, especially in bilateral settlements with Russia, and we are striving for the share to grow not only in bilateral settlements but also in tripartite and more complex" , - said Yudaeva.
According to her, the regulator is actively working with the Ministry of Finance to simplify procedures for opening ruble correspondent accounts. For foreign banks will be an incentive to use the ruble in the calculations, said Yudaeva.

The Eurasian Economic Union (ЕАЭС) is created on the basis of the Customs Union and the Single Economic Space and is effective from January 1, 2015. The members of the EAEC are Armenia, Belarus, Kazakhstan, Russia and Kyrgyzstan.

MOSCOW, September 27. / TASS /. The Government of the Russian Federation plans to increase the volume of financial support for small and medium-sized businesses by means of non-bank instruments to an amount not less than 10 trillion rubles within five years. This is stated in the main activities of the Russian government for the period until 2024.

"By 2024, it is planned to achieve, in particular, the following indicators: a multiple increase in the volume of financial support for small and medium-sized businesses in the framework of the National Guarantee System, the microfinance system, preferential lending programs for projects in priority sectors and other alternative (non-bank) instruments - not less than 10 trillion rubles for five years, "- said in a published document.

In addition, it is planned to increase the number of employed in the sphere of small and medium-sized businesses, including individual entrepreneurs, to 25 million people.

"The share of exporters who are subjects of small and medium-sized business, including individual entrepreneurs, is at least 10% in the total volume of non-primary exports." Reducing the area of ​​state land plots not involved in economic turnover by 50% (relative to 2012), " noted in the government.

Austin wrote:The Cabinet of the Russian Federation will allocate not less than 10 trillion rubles for five years on support of small business

In addition, it is planned to increase the number of employed in the sphere of small and medium-sized businesses, including individual entrepreneurs, to 25 million people

The head of the Accounting Chamber is sure that the new approaches outlined in

his doctoral dissertation

will be more effective for the budget


Kudrin's suggestions
In particular, his dissertation notes that for the years 2019-2020 the already adopted budget rule can be implemented, "softened" by raising the base price of oil to $ 45 per barrel (at constant prices) and increasing marginal costs by 0.5% GDP with a similar increase in the primary deficit, which is proposed to be covered by proceeds from privatization in the amount of 0.1-0.2% of GDP and in the remainder due to government borrowing.

Beginning in 2021, it is possible to move on to a new model of the budget rule, in which the federal budget expenditures (both planned and actual) should be limited to the sum of the non-oil-gas revenues and oil and gas revenues cleared from cyclical fluctuations of economic development at the cut-off price level, as well as expenditures on servicing the public debt (not more than 1% of GDP) and the allowed amount of the primary deficit (no more than 0.5% of GDP).

After 2024, to ensure a long-term balance of the federal budget, it is possible to tighten the budget rule by switching to a zero primary or even a general deficit within the five-year period. If the incomes or the need to increase expenditures for countercyclical support of the economy are not achieved, it will be possible to temporarily raise the deficit under an obligation to repay it within the next four years.

GunshipDemocracy wrote:

miketheterrible wrote:Very good. This will force them to bring money back to the country, plus these businesses do get a cut in terms of the profit in the end anyway.  

Bielousov? her is Putin's man. First move was to make agitation. He said that most of big companies (read: oligarchs) get enormous money from factors independent form them. All liberast block/press startes wailing - it is not happening this is an assault on private property, what "investors" will say (magic word investor here). Of course things like controlled devaluation  and high crude prices had nothing to do with govt policy and Putin's talks with Sauds.   Meeh

I am sure this wasn't original plan because only couple days later  Bielousov suggested a new plan to talk with "Belousiv's list" companies  on jint artnrship andco-finacign govts priority projects. mainly in infrastructure. The fun is that project must be approved and costs by govt and most of them are not owned by oligarchs but they have license like 20 years or so to use it...

Then instead of 500mlns rubles they "voluntarily agreed" to invest 7,1 trillion in projects.      

Neutrality wrote:Personally I'm excited about the Moscow-Kazan high speed rail. This project should get priority above all other projects, including the bridge to Sakhalin. The high speed railway will interconnect several regions and provide an immediate boost to the GDP (I have read an in depth analysis), it's going to employ a ton of people on top of that.

Metallurgists estimated losses from existing infrastructure restrictions at 500 billion rubles

"Half a trillion rubles may lose Russian steel companies in the next five years if infrastructure constraints remain unheeded and initiatives are approved without corrections proposed by the association," the Russian Steel said in a statement. This amount is two-thirds of all investments in the steel industry over the past five years, the association notes.

"These funds metallurgists could invest in new capacity, the best available technologies, including environmental, innovation and infrastructure projects that the country needs and create new jobs," the statement said.

US could use its Navy to prevent Russia’s potential energy supplies to the Middle East, Internal Secretary Ryan Zinke said, Washington Examiner reports. The blockade would actually mean an “act of war,” Russian Senator fired back.
Zinke alleged that Russia’s engagement in Syria – notably, where it is operating at the invitation of the legitimate government – is a pretext to explore new energy markets.

"I believe the reason they are in the Middle East is they want to broker energy just like they do in eastern Europe, the southern belly of Europe,” he has reportedly said.

And, according to to the official, there are ways and means to tackle it.

"The United States has that ability, with our Navy, to make sure the sea lanes are open, and, if necessary, to blockade ... to make sure that their energy does not go to market," he said.

Zinke was addressing the attendees of the event hosted by the Consumer Energy Alliance, a non-profit group which styles itself as the “voice of the energy consumer” in the US. He went to compare Washington's approaches to dealing with Russia and Iran, noting that they are effectively the same.

"The economic option on Iran and Russia is, more or less, leveraging and replacing fuels,” he said, while referring to Russia as a “one trick pony” with an economy dependent on fossil fuels.

Zinke’s statements provoked an angry response from Moscow, which equated a potential maritime blockade to an “act of war,” while calling the internal secretary’s assumptions “nonsense.”

“A US blockade of Russia would be equal to a declaration of war under international law,” Russian Senator Aleksey Pushkov said, commenting on Zinke’s words. Russia does not currently export any energy to the Middle East, which itself is a major oil exporting region. The whole idea is an “absolute nonsense,” the Senator argued.

The comment from the US Interior Secretary come as Trump administration has been on a mission to boost the export of its liquefied natural gas to Europe, replacing Russia, the far cheaper option for European consumers. For that effect, the Trump administration officials, including US President Donald Trump himself, try to persuade Germany to pull out of the “inappropriate” Nord Stream 2 pipeline project, which according to Trump, made Berlin Moscow’s “captive.”

US could use its Navy to prevent Russia’s potential energy supplies to the Middle East, Internal Secretary Ryan Zinke said

Zinke alleged that Russia’s engagement in Syria – notably, where it is operating at the invitation of the legitimate government – is a pretext to explore new energy markets.

Hole wrote:Would be interesting to see how the ami Navy is blocking pipelines (the main means of of Russia for exporting "energy") from working.

I fear this guys are really that stupid.

Prince of Kent visits Russia contrary to the ban of the royal family, media writes

GarryB wrote:Funny thing is that last time they used a blockade against a serious power was Japan... it resulted in the Japanese defending their rights with Pre Emptive Self Defence... an attack on Pearl Harbour...

It could of course be argued that they first attacked Mongolia but were driven back by the Soviets so they next looked south for oil and resources...

The Russian Federation in general and the semi-state Russian "Gazprom" in particular are very "very good" here. If only because it is the Russian Gazprom, which, as you know, implements the “pipeline concept” in the first place, in 2017 signed memorandums with Iran on the possibility of participating in the development of the four largest gas fields in the country. Namely, the Farzad-A, Farzad-B, North Pars and Kish deposits.

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A year ago, Russian President Vladimir Putin visited Iran, where he met with President of the country Hassan Rouhani and President of Azerbaijan Ilham Aliyev. The rich harvest from this visit, of course, was first collected by Rosneft, which also signed the so-called “road map” about investments in local oil and gas fields there. But Gazprom did not stand aside either.

The latter had already expressed his willingness to participate in the project to build a gas pipe: experience already exists. Through Pakistan and to India. At the same time, the Russian giant expressed interest in developing, first of all, the four fields that were still owned by the Iranian company. What is clear: the American sanctions, which form political risks in the implementation of the project, unlike the Indians who want to be friends with everyone, do not worry about Gazprom, it’s under them anyway. And the profitability of projects promises to be very high: the markets of the Indian subcontinent are very capacious, and the demand for blue fuel there only promises to increase.
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And a document was signed that, quoting the official report of the Ministry of Energy of Russia, "involves the provision of comprehensive support to the offshore pipeline project, through which gas from fields in Iran will be supplied to consumers in Pakistan and India. The memorandum provides for the definition of authorized organizations through which support will be provided project, including in the development of a feasibility study - determining the resource base, configuration and route of the pipeline. "
There is no need to translate from bureaucratic to Russian, the main thing is clear and so. This is no longer just a “protocol of intent”, it is the beginning of a specific project specification and the beginning of work. "Roadmap", so to speak.

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What, in fact, speech. About the IPI pipeline (Iran - Pakistan - India) with a length of over two thousand kilometers, with an "Iranian section" of 1200 kilometers and a capacity of up to 22 billion cubic meters per year with the possibility of further increase. The total cost of construction last year was estimated at seven and a half billion dollars (here, of course, various adjustments and clarifications are possible). Apparently, the parties, assessing the risks and taking into account the experience of Russia, chose the maritime option as the most reliable route. At the same time, the Russian Energy Ministry is clearly considering a "Pakistani memorandum" including as a kind of accelerator for talks with India. But the Iranian fields located on the shelf of the Persian Gulf can become the resource base of the project.

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By the way, Gazprom considers not only the Iran-Pakistan-India gas pipeline project, but also the Iran LNG LNG plant project, which also intends to take a very active part in its construction, as possible instruments for monetization of Persian gas.

miketheterrible wrote:Russia knows that everyone is wanting to diversify supply, so what better way to obtain the diversification funds than to invest and Co own various oil and gas projects that would be otherwise called a competitor to Russia?

The government plans to increase the export of non-commodity non-energy goods to $ 250 billion

According to the relevant project, we are talking about deadlines until 2024

MOSCOW, October 1. / Tass /. The Russian government plans to reach $ 250 billion in export of non-primary non-energy goods by 2024. This is stated in the text of the draft of the Government's main activities for the period up to 2024 published on Monday.

The document, in particular, says that it is planned to ensure the level of exports of goods by industry: auto industry - up to $ 7.5 billion, civil aircraft construction - $ 4.42 billion, railway equipment - $ 1.22 billion, agricultural machinery - $ 0.42 billion.

GarryB wrote:So they are expecting to sell 236.44 billion worth of S-400 and Su-35s and corvettes no doubt...  

Hyundai plant in St. Petersburg doubled exports in the first nine months of 2018