Once sanctions are lifted it may be too late for Western producers to return to the Russian market. By then everything will be replaced by domestically made products, or food and goods imported from other countries, said Russian PM Dmitry Medvedev.
Russia intends to have its own international inter-bank system up and running by May 2015. The Central of Russia says it needs to speed up preparations for its version of SWIFT in case of possible ”challenges” from the West.
The Asia-Pacific region is one of the strategic priorities in Russian foreign policy. As President Vladimir Putin stated at the APEC summit in Beijing, Russia is planning to expand its cooperation with Asian countries in many spheres.
An exportable Chinese fifth-generation fighter jet will be equipped with gas-turbine jet engines developed and assembled by Russian companies, confirmed the head of Russian delegation at the Airshow China exhibition.
Doing away with the US dollar and switching to ruble and yuan payments will significantly increase Russia and China’s say in energy and financial markets, Vladimir Putin has said, adding that the first deals are already underway.