Author: Steven Sahiounie

The representative of the European Commission, Christian Wiegand, stated that the member states of the European Union have frozen more than 200 billion euros of the assets of the Bank of Russia (the Central Bank of Russia). The European official said, “The European Union countries reported the freezing of more than 200 billion euros of assets belonging to the Russian Central Bank.” The representative of the European Commission recommended contacting member states to determine the value of the frozen assets of the Russian regulator. After Russia launched a military operation in Ukraine, Western countries imposed sanctions on Moscow, within which…

Russia is gradually restoring sales of fertilizers to international markets, and could return to the levels of 2021, when exports hit record highs, the head of the Russian Fertilizer Producers Association (RAPU) said earlier this week. Andrey Guryev acknowledged that it is already impossible to equal the record for the entire year, but that fertilizer exports in Q2-Q4 2023 could easily reach the export levels seen in the same periods of 2021. “Exports of Russian fertilizer are recovering overall for a number of products although there is still a slight drop year-on-year mainly owing to the supply of potassium,” Guryev told…

Estonia is continuing to supply Moscow with machinery and transport equipment, data has shown Exports from Estonia to Russia are growing despite Western sanctions, authorities in the Baltic state have acknowledged. In March, exports to Russia increased from €57 million ($61 million) to €74 million ($79 million) on an annual basis, Yane Leppmets, an analyst at the country’s Statistics Department, told Estonian state broadcasting portal ERR on Wednesday. “44% of exports are machinery and transport equipment: these are printing machines and centrifuges,” she specified. Leppmets attributed the growth to surging inflation, explaining that the volume of goods remained approximately the same…

The Russian ambassador to Pyongyang, Alexander Matsegura, said that Russia and North Korea are working to form a system for settling accounts in the ruble, which will help increase trade exchange between the two countries. The ambassador stated, in an interview with “Novosti”, that the volume of bilateral trade is very small, and from time to time there are individual shipments through China, but it is also not large. According to him, the main reasons for this situation lie in the severe consequences of UN Security Council sanctions against North Korea. The Russian ambassador stressed that these sanctions destroyed the…

Gas prices in European markets fell, in Thursday’s trading, below the level of $300 per thousand cubic meters, for the first time in nearly two years. And by 10:16 Moscow time, blue fuel futures contracts for next June on the TTF index (the largest center in Europe) fell by 3.9% to $ 298.2 per thousand cubic meters. Gas futures contracts opened today, Thursday, at $311.5 per thousand cubic meters. This article was originally published by RT.

Qatari Finance Minister Ali Al-Kuwari said that Doha remains committed to investing in Egypt and is looking forward to sectors such as telecommunications, manufacturing and tourism. Al-Kuwari said, in statements reported by Bloomberg, that Qatar’s investments in Egypt are for purely commercial purposes. Qatar affirmed its commitment to implementing billions of dollars in investments that it pledged to Egypt, but it did not specify any time frame for pumping these investments. In March 2022, Doha pledged to provide $5 billion to Egypt, as Finance Minister Ali Al-Kuwari stated that they are committed to that, according to Bloomberg TV statements at…

Oil prices fell, in trading today, Thursday, after three days of gains, with the decline in US crude stocks, and continued concerns about the US debt ceiling. By 10:01 Moscow time, US crude futures fell 0.47% to $73.99 a barrel. While Brent crude futures fell by 0.32% to $78.11 a barrel, according to Bloomberg agency data. This article was originally published by RT.

The Ambassador of the Sultanate of Oman to Egypt, Abdullah bin Nasser Al-Rahbi, called on the Egyptians to invest in the Sultanate of Oman. The Omani ambassador said, during a special statement to the Egyptian Middle East News Agency, that the Egyptian investor can invest in promising projects, which the Omani government identified as a priority in the “2040” plan, especially in the fields of mining, industry, food security, transportation, tourism and others. He added that there are many promising opportunities in the two countries and investors on both sides can invest in them, including, for example, in Egypt, the…

Egyptian President Abdel Fattah El-Sisi said that the projects that are being opened are available to Egyptian and foreign investors and also for listing on the stock exchange, stressing that investments are being implemented to increase the domestic product. President Abdel Fattah El-Sisi added, during his speech a short while ago, at the inauguration of the quartz production factories complex in Ain Sukhna: The projects that we are opening are available to Egyptian and foreign investors and are available for offering on the stock exchange. Let us give an opportunity to our citizens so that they find an opportunity to invest…

Russian President Vladimir Putin announced, on Wednesday, at the plenary session of the Eurasian Economic Forum that Russia is in talks on establishing a free zone with Egypt. International economics professor Karim El-Omda confirmed that there is a remarkable increase in the volume of trade exchange between Egypt and Russia, noting that in 2021 Egypt’s imports from Russia amounted to more than $3 billion, and Russia was the sixth largest supplier country to Egypt after China, Saudi Arabia, America, Germany and Turkey, noting. To that percentage, it witnessed a significant increase in the year 2022, in addition to the Russian…