Russia Economy Thread

pmc

Major
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Russia's current account surplus usually shrinks in the summer months when Western Europe doesn't need gas for heating. Indeed, from 2007 to 2021 the June current account averages exactly ZERO. However, this year the surplus is +$28.2 bn, a monster surplus of our own making...
Russia has already significantly cut gas to EU. it seem gas exports not have that big impact on account surplus.

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tphuang

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Sounds like consumer spending in Russia has come back now that they RUB has gained value and supply chain to Asia has stabilized. Look at that, Chinese export to Russia in July was up 22% over 2021. Remember all that story about China not exporting to Russia as much due to fear of secondary sanctions? I guess they've figured out which markets they can serve without incurring secondary sanctions.
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July’s exports to Russia were driven by East Asia. In July, deliveries of goods and services from China to Russia amounted to US$6.7 billion, one and a half times more than in June, but also 22% more than in 2021. For comparison, June imports on the China-Russia route were 17% lower than a year ago. In general, the bilateral trade turnover between the countries for the first seven months of 2022 have amounted to US$97 billion, a 29% increase over same period of 2021. This growth was largely due to a sharp increase in Russian exports to China.
We will see when China is confident about restoring machinery export and investment into Russia. Probably will need to wait until EU sanctions to Russia reducing a little bit.
It is easier to restore consumer imports and much more difficult – intermediate (raw materials, materials, components) and investment (equipment). This is due to the severity of Western sanctions on the supply of technological products to Russia and the pressure of the West (primarily the United States) on other countries with the threat of secondary sanctions for helping to circumvent restrictions, Belenkaya stated.

Vladivostok port traffic is another sign of this. I wonder if they can just rail freight all this through China? I guess Russia wants to utilize its own railway system to do the transport
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I don't have the Bloomberg article, but definitely sounds like Russia is re-orienting its foreign trade and reserves to CNH. This process has really picked up in the past couple of weeks. Great news for China.
 

pmc

Major
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Titles are self explanatory. this first time i think TVEL (Nuclear fuel ) is into building power, communication semiconductors. seem alot of demand down the line.

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Electronics of Russia will receive unprecedented funding, said Mishustin​

August 31, 2022



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gelgoog

Brigadier
Registered Member
The Bloomberg chart on Russian currency swaps - RMB versus USD
View attachment 96562
This is pretty impressive. The overall amount of rubles transacted seems to be the roughly same as pre-war but dollars are being switched to yuan. And Russia switched volume for like 2/3 of transactions to yuan in like just a couple of months time.
This is just another example showing that the Russian financial system is way more robust than Western analysts gave it credit for.
 

AndrewS

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Registered Member
This is pretty impressive. The overall amount of rubles transacted seems to be the roughly same as pre-war but dollars are being switched to yuan. And Russia switched volume for like 2/3 of transactions to yuan in like just a couple of months time.
This is just another example showing that the Russian financial system is way more robust than Western analysts gave it credit for.

If people need to buy Russian stuff, they don't need the USD or EUR.

The same applies to China.
 

tokenanalyst

Brigadier
Registered Member

Russian government allocates 7 billion rubles to fund the development of domestic wafer fabs​


386952363244.9026.jpg


According to Russian media reports, the Russian government intends to provide 7 billion rubles (about 770 million yuan) to Mikron, the country’s main microelectronics manufacturer, to help it maintain wafers in Russia. manufacturing facility.

After the news came out, some experts believe that 7 billion rubles is a drop in the bucket to support the development of wafer manufacturing companies. Mikron needs more support to promote the research and development of new processes and new technologies, otherwise the company will stagnate.

Some experts pointed out that there is a serious shortage of personnel in the Russian microelectronics manufacturing industry, and continued state support has raised wages and stabilized the workforce.

According to public information, Mikron is the only company in Russia capable of manufacturing 180-90nm integrated circuits. In April of this year, the company also announced an expansion plan to purchase second-hand equipment to double wafer production capacity. (Proofreading / Wu Shouzhe)

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