Russian economy

Russia’s key trading floor the Moscow Exchange (MOEX) and the China Financial Futures Exchange (CFFEX) have signed an agreement that’ll help further develop financial ties between the countries.

Moscow is considering direct energy supplies to Greece, Russia's Energy Minister Aleksandr Novak has said, adding that the country wants to help Greek recovery by expanding economic cooperation.

The China-led Asian Infrastructure Investment Bank (AIIB) and BRICS New Development Bank (NDB) can coexist, Russian Minister of Economic Development Aleksey Ulyukayev told RT ahead of the key BRICS/SCO summits in Russia.

Ahead of the landmark BRICS/SCO summits in Russia’s Ufa, Putin's top aide Yury Ushakov speaks to RT, Vesti and RIA on the key topics of the forums’ agendas, including the BRICS New Development Bank, Iran joining SCO, and crises in Greece and Ukraine.

Russia’s Bashkortostan is ready to host the 7th BRICS summit and the Shanghai Cooperation Organization (SCO) summit in the capital Ufa, the republic's president Rustem Khamitov told RT. It’s hoped the events will bring the region to a new level, he said.

Russia should take into account the position of EU countries that have actively opposed the policy of Western sanctions when preparing a reciprocal response, says Russian Federation Council Speaker Valentina Matvienko.

The sanctions have multiple advantages for Russia, as they motivate companies to turn to domestically produced goods and boost the economy, Russian Industry and Trade Minister Denis Manturov told RT.

The situation with the sanctions won’t escalate as Russia wants to keep a way open for political dialogue with the EU, said Alexander Mercouris, International Affairs Editor at Russia Insider, adding that Brussels’ policy is “wrong” and “failing”.

After Monday’s extension of EU sanctions, Russia wants to prolong and expand its food embargo. This may include flowers and chocolate, said Russian food watchdog spokesman Aleksey Alekseenko in an interview with Gazeta.ru.