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08 August 2019

Last year, twice as many businesses were shut in Russia as opposed to those opened, according to the results of a market survey. This is a result of some technical issues in the economy, although mainly it is a result of the problems with the business climate in general as well as losses incurred by businesses in recent years. Last year more than 290.000 new enterprises were launched in Russia, whereas over 600.000 companies ceased their activity.

02 August 2019

American financial expert Peter Schiff praised Russia's eagerness to reduce the dependence of its financial system on the U.S. Dollar. Peter Schiff told journalists that the U.S. currency is losing its position in the Russia's gold and FX reserves: while the share of the US currency in the past stood at 46%, at present it represents only 22%. The dollar has been replaced by gold, whose share in Russian reserves rose from 2% to 19% during the past 10 years. According to Schiff, the position of the USD as the world's main reserve currency will soon be questioned.

17 July 2019

Starting in 2022, dependent and overseas territories of the United Kingdom such as the isles of Guernsey, Jersey and Man, plan to publish lists of the company beneficiaries. According to the British media, the decision was taken by the authorities of these territories following a lengthy period of the EU pressuring the UK to adopt the Fifth EU Anti-Money Laundering Policy Directive.

08 July 2019

Russian citizens continue to receive huge shadow income, the government believes. The total volume, according to various estimates, ranges from 15% to 21% of the GDP, said Deputy Prime Minister Tatyana Golikova.

03 July 2019

Over the past five years, Russia has managed to reduce the share of the US dollar in its international settlements. The share of the euro and the Rouble, on the other hand, have grown significantly, as well as that of the Yuan. Is there a prospect of Russia getting rid of all the settlements in USD? On the other hand, why does the Yuan so far let down the Russian economy?

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