Russian Economy General News: #9

miketheterrible wrote:Didn't even realize two projects are involved in it.

Any more details to both?

miketheterrible wrote:It's these projects that will boost Russia's economy the most, next to also increase the population in central Russia.

They need a massive logistics hub.  I still support idea it be Krasnoyarsk due to its location and fact its still large populated city.  That in turn will make it a very big economic power house of Siberia.

Large Russian projects (planned)

New oil currency is intended to replace the dollar.

To accelerate the rejection of the dollar in export calculations can help modern technologies of the digital economy. An idea emerged to take advantage of such close friendship between Russia and OPEC and together create a strong oil cryptocurrency, for which and sell its raw materials. Is it utopia or a real alternative to petrodollars?

In the conditions of the government’s de-dollarization plan for the Russian economy and the desire of officials to transfer export calculations from dollars to rubles, yuan or euro, new unexpected solutions to the problem appear.

For calculations on the oil market, OPEC + countries, including Russia, could use a special blockchain-based cryptocurrency instead of the dollar, provided with gas, oil or other energy resources, said Igor Yusufov, former energy minister and now head of Energiya corporation, Prime reports . Given that oil and gas resources still constitute half of Russian exports, the abandonment of the dollar in these calculations would be a huge step towards dedollarization.

flamming_python wrote:In addition, RZhD is actively pushing the idea of a trans-Korean railway, so that South Korea can export goods to Europe through Russia by rail. However recently America has stepped in and put a stop to any reconnection of North and South Korean rail-lines, claiming that the North needs to give up its nuclear program before any discussions of such can take place.

Neutrality wrote:The cabinet has approved the construction of the high speed railway

First it's going to be Moscow-Nizhniy Novgorod and later when there's additional funding, the railway will be continued to Kazan.

For Russian speakers here's the entire legal document with all the projects in it:

http://static.government.ru/media/files/MUNhgWFddP3UfF9RJASDW9VxP8zwcB4Y.pdf

Putin instructed to work out the creation of development centers

on the island of Russian
"To the Government ... together with the State Atomic Energy Corporation Rosatom, the State Space Corporation Roscosmos, the public joint stock company Gazprom, the public joint stock company Rosneft Oil Company, the public joint stock company United Aircraft Corporation, the joint stock company Society "Helicopters of Russia" and other interested organizations implementing projects in the Far Eastern Federal District, to work on the issue of accommodation on the island of P Ussky engineering units, as well as research and development centers. The report - until May 1, 2019, "- said in a statement

miketheterrible wrote:
Judging by budget surplus, they have already enough funding. But I imagine they will play it safe and do it bit by bit. After the railway link of Crimean bridge is done, a lot more money will be available.

Only rubles: banks will be restricted from issuing currency loans to businesses

The proposal is contained in the de-dollarization plan of the economy.


Lending in foreign currency to companies that do not have sufficient export earnings will make it unprofitable for banks. Such a point is contained in the de-dollarization plan of the economy, which was introduced in the Cabinet. About this "Izvestia" told two federal officials from the financial and economic bloc of the government and a source familiar with the content of the document. For such loans, it is planned to establish increased risk ratios, which will force banks to create additional reserves. Business supports the approach: this will avoid problems with debt repayment with a sharp drop in the ruble exchange rate.


The state plans to motivate Russian banks not to issue foreign currency loans to organizations that do not have sufficient revenue in other monetary units, a federal official told Izvestia. He added that the strict restrictions on the provision of such loans in the document still did not lay. Another official familiar with the dedollarization plan explained that the so-called risk-weighting principle is planned to be applied to banks (determines the size of the created reserves depending on how high the risk of loan default is). Information about limiting the issuance of loans in foreign currency was confirmed by a source participating in the discussion of the plan.

- Banks will not be profitable to lend to the company in terms of reserves, if they do not have foreign exchange earnings, - said a federal official.

Austin wrote:Contrary to sanctions: foreigners will invest $ 40 billion in the Russian economy
Basically, the money will go to transport infrastructure and technology development.

miketheterrible wrote:https://sdelanounas.ru/blogs/113245/

AHAHAHAAHAHAHAHA

Latvia bought out almost the entire Russian export volume of rye

Isos wrote:Can someone reminds them about "baltic states, russian agression, US protection, EU, sanctions ..." and all those things.

GunshipDemocracy wrote:

Isos wrote:Can someone reminds them about "baltic states, russian agression, US protection, EU, sanctions ..." and all those things.

because selling rye is a part of Russian hybrid war