The Russian Arctic maritime highway, the Northern Sea Route, has recently been in the center of attention, and this is well received in Beijing, which has its own plans for the so-called “Polar silk road”.
Due to the new wave of the US sanctions Russia’s currency fell to its lowest USD value in almost two years. Similarly, the Russian stock market suffered some heavy losses.
At the end of July 2018, the Russian daily Kommersant informed about a draft of legislation that, if approved, would oblige smartphone and computer producers in Russia to pre-install domestically developed software and applications.
Russia’s second largest bank, VTB, came with a number of proposals for expanding the use of the Russian ruble in international financial settlements.
Since the beginning of July, the citizens of the Russian Federation are able to receive any banking services remotely upon submission of their biometric data, which will be stored in the Unified Biometrics System.
The experts from the Economist Intelligence Unit are pointing out that the population of Central and Southeast Europe will decrease by nearly 34 million people over the next 33 years.
Following the memorable changeover in the presidency of Russia in 2012, when Vladimir Putin and Dmitry Medvedev simply swapped places, a new plan of national development was formulated for Putin's next term in office.
The Russian government tries to stay away from cooperating with western technological companies and opens the door for Chinese internet giants like Alibaba to help modernize Russia’s ecommerce market.
Russia, the world’s biggest oil producer, has been gradually redirecting its oil exports from Europe to the increasingly more promising Chinese market, as China became the largest oil importer in the world.
After a period of decline, the RUB in the beginning of 2018 to hit RUB56/USD and RUB70/EUR as oil prices passed the USD65 per barrel mark, making the Russian currency one of the best performing in the world this year.