trade
India is exploring ways to increase its exports to Russia, including by encouraging rupee-ruble trade and pushing Moscow to remove non-tariff barriers, after Indian Prime Minister Narendra Modi met Russian President Vladimir Putin, Reuters reported on July 15. Growing Russian exports to India accounted for $61.43 billion of the $65.7 billion trade between the two states in the last fiscal year ending in March. While trade between the two countries grew by one-third year-on-year, Indian exports of pharmaceuticals, machinery, and other goods to Russia remained almost unchanged. "When we are look...
Kyiv Independent (UK)
The following is the July 4, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. EU accession talks beginUkraine and Moldova on June 25 officially began their accession talks with the European Union in a moment full of excitement — and anxiety — about the changes ahead. “This is great news and the beginning of a path with a loooot [sic] of work for the entire state apparatus in the coming years,” Ukrainian lawmaker Yaroslav...
Kyiv Independent (UK)
The European Union imposed an emergency brake on imports of eggs and sugar from Ukraine on July 2, according to the European Commission's statement. The updated rules of duty-free and quota-free trade in agricultural products between Ukraine and the EU came into force on June 6. According to the newlyimplemented rules, an emergency brake can be applied to imports of eggs, poultry, sugar, oats, maize, groats, and honey. The measure will be automatically triggered if import volumes reach the average yearly imports recorded between July 1, 2021, and Dec. 31, 2023. For eggs and sugar, this average...
Kyiv Independent (UK)
Western sanctions against Russia have not impacted trade outside of the West, said Hamad Buamim, chair of the Dubai Multi Commodities Center, in comments to the Financial Times published on May 29. Despite more than a dozen rounds of EU sanctions against Russia and associated measures from the U.S. and other Western partners, Russia's economy has remained resilient. While Russia's business ties with the West have shrunk, other countries outside of Europe have increasingly taken advantage of the opportunities. Throughout Russia's full-scale war, the United Arab Emirates (UAE) has maintained eco...
Kyiv Independent (UK)
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