Contents tagged with Russia
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Russian producers warn of economic threat: Chinese steel inundates domestic markets
Major Russian metallurgical firms, including Severstal, NLMK, and MMK, have expressed growing concern over the influx of Chinese steel imports into the Eurasian Economic Union (EAEU) and are pushing for the extension of anti-dumping duties on Chinese products, reports the Russuan newspaper Kommersant. Already hampered by Western sanctions, Russian metallurgists now see China aggressively targeting their internal market. This expansion poses a significant threat to the positions of Russian …
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China and Russia to conduct North-Joint 2024 military exercises amid heightened strategic cooperation
In a significant display of military collaboration, China and Russia are set to conduct joint military exercises later this month named North-Joint 2024. The exercises will take place in the skies and in the waters of the Sea of Japan and the Sea of Okhotsk, the Chinese Ministry of Defense announced Monday.
Naval and air forces from both countries will participate in these drills. According to the announcement, the objective of these exercises is "to deepen the level of strategic cooperation …
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Ukraine revokes phone call privileges for Russian POWs, allows only written communication
Russian prisoners of war in Ukraine are no longer allowed to make phone calls home, though they can still write letters, said Ukrainian Human Rights Commissioner Dmytro Lubinets during a national news broadcast.
Lubinets pointed out that Ukraine currently hosts four special camps for captured Russian soldiers, ensuring conditions compliant with the Geneva Conventions.
Lubinets stated, “We understand that, fortunately or unfortunately, we cannot behave like the Russians. To be frank, we have …
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Iran expresses outrage over Russia's support for controversial 'Zangezur Corridor' project
In a scathing commentary, the Tasnim News Agency, closely affiliated with Iran's Islamic Revolutionary Guard Corps (IRGC), lambasted recent statements made by Russian Foreign Ministry officials advocating for the creation of the so-called "Zangezur Corridor."
The report emphasized Iran's staunch opposition to the project, indicating that Tehran has taken diplomatic steps to communicate its concerns to Russia. The Russian ambassador to Tehran, Alexei Dedov, was summoned to Iran's Foreign …
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Russian soldiers caught on camera looting children's store in Kursk region
In the small town of Korenevo, less than 20 kilometers from the Ukrainian border, Russian soldiers have been caught on video looting a children’s clothing store named ‘Kapitosha’. The footage, posted by Michael Naki from the store's surveillance cameras, shows a uniformed Russian soldier removing cash from the store's register. “And this is our Russian army, our defenders,” a female voice off-camera comments on the video, captured on August 12th.
A local resident, who chose to remain anonymous, …
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Russian billionaires acquire stake in UK's largest oil and gas producer
Russian billionaires Mikhail Fridman and Petr Aven have acquired a 15% stake in Harbour Energy, the UK’s largest oil and gas production company, according to a BBC report.
Though the deal grants them a piece of the profits, their company, LetterOne, will not have voting rights. The source also indicates that LetterOne itself is not under Western sanctions, nor is there a direct connection between Fridman, Aven, and the company.
Presently, Harbour Energy stands as one of the leading companies …
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New payment verification requirements hamper Russian imports of Chinese goods
Russian buyers importing Chinese goods are encountering new challenges, as Russian banks now require written guarantees of payment acceptance for transactions with China. According to a report from Russian newspaper Vedomosti, Russian banks that still manage to send money to China are demanding written assurances from importers that the payments will be accepted. This has created complications for buyers of Chinese products in Russia.
Vedomosti's sources indicate that Chinese suppliers must …
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Renowned Russian scientist sentenced to 15 years for alleged treason
In a significant development from Russia, Dr. Alexander Shiplyuk, the Director of the Institute of Theoretical and Applied Mechanics of the Russian Academy of Sciences (SO RAN), has been sentenced to 15 years in prison on charges of state treason. Specializing in hypersonic research, Shiplyuk has maintained his innocence throughout the legal proceedings.
Moscow City Court handed down the 15-year sentence on September 3, according to Russian media and Telegram channels.
The First Department, a …
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Chinese exporters demand prepayment from Russian clients amid sanction-driven economic shifts
In a significant development, Chinese exporters have suspended shipments to Russia without prepayment, a stark shift from prior practices. This move reportedly comes in response to sanctions against Russia, reports Izvestia, citing Vadim Filatov, President of the Association of Automobile Cargo Carriers and Forwarders.
According to Filatov, Russian companies that previously enjoyed trusted credit terms now face unprecedented challenges due to payment reversals. Additionally, new Russian …
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Kazakh banks sever ties with sanctioned Russian payment system Zolotaya Korona
In an unexpected move, several major Kazakh banks, including HalykBank, Bank RBK, and Eurasian Bank, have suspended transactions through the "Zolotaya Korona" payment system. The abrupt suspension of transactions comes "for technical reasons," according to a report from Russian news agency TASS on Thursday.
Freedom Bank was the pioneer in this wave of suspensions, citing "technical work" as the reason for halting operations with the payment system. The bank emphasized that future steps will be …