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.
Russia's largest independent natural gas producer Novatek is in talks with Chinese banks to get over $10 billion for its Yamal liquid natural gas (LNG) project, according to the company’s key owner Gennady Timchenko.
A recovery in oil prices to $90-$100 per barrel would be an important support for the Russian ruble, which has lost about 39 percent against the dollar since the start of the year, says Yaroslav Lissovolik, Managing Director of Deutsche Bank Russia.