Trade between Russia and China may reach $200 billion before 2020

Trade between Russia and China may reach $200 billion before 2020

Russia-China trade may reach $200 billion earlier than 2020, Russian Deputy Prime Minister Dmitry Rogozin said on Monday.

"We have a task set by the leaders of Russia and China to raise the volume of our trade and economic relations to $200 billion by 2020," Rogozin said at a meeting of Russian and Chinese vice-premiers with governors and business circles from both countries at the first Russia-China EXPO that had opened in Harbin.

"But I believe that if we proceed at such high rates and develop large, primarily infrastructural projects to help unite energy of Russia and China, then we believe that this figure can be achieved before that time," Rogozin said.

Russia able to withstand EU's toughest sanctions scenario

Russia able to withstand EU's toughest sanctions scenario

Russia’s Economic Development Ministry has drafted three variants of forecasts of the country’s economic development in case sectorial sanctions are imposed against Moscow over the situation in Ukraine, Russian Economic Development Minister Alexei Ulyukayev said Saturday.

"We have developed three variants which differ by the degree of toughness. The first variant includes luxury articles, caviar, furs, the second one is tougher and the third one includes the entire complex - metals, fertilizers, oil, gas and so on, taking into account the factors of price and volume," Ulyukayev said.

Further sanctions against Russia may have negative impact on European banks

Further sanctions against Russia may have negative impact on European banks

Tightening of European sanctions against Russia may adversely affect activities of the Italian Bank Unicredit and the whole European banking sector, an adviser to the Italian Bank, member of the Board of Directors, Gianni Franco Papa said today in an interview with the German Handelsblatt newspaper

"We are waiting for an EU decision and will treat it with respect, but if the sanctions are tightened, of course, it will be a blow not only on our interests, but also on the whole of Europe. Russia is too important a market," he said.

Russia mulls restrictions on PayPal

Russia mulls restrictions on PayPal

The Russian lawmakers are mulling restrictions on foreign payment systems offering money transfer and transaction services on the Internet, the Moscow-based Izvestia newspaper reports.

The proposed restrictions may concern the US PayPal and London-based Webmoney payment systems.

PayPal received a license from Russia’s Central Bank last May.

A bill on changes to the existing legislation regulating the activity of online payment systems is currently being prepared by the State Duma Committee on Budget and Taxes.

Ukraine ready to sign package agreement on gas with Russia

Ukraine ready to sign package agreement on gas with Russia 

Ukraine is prepared to sign a package agreement on gas with Russia's Gazprom and to continue to work only in the framework of that agreement, Ukrainian Energy and Coal Minister Yuriy Prodan said.

"Ukraine is prepared to sign a so-called package agreement with Russia today on those proposals that the European Commission made at the last round of talks in Kiev, and to work only in the framework of this package agreement," Prodan said on his arrival in Brussels for talks with the European energy commissioner, Gunther Oettinger, Interfax reports.

Russia to Take Action if EU Association Agreement Hits Russian Economy

Russia to Take Action if EU Association Agreement Hits Russian Economy

Georgia, Moldavia and Ukraine have the right to sign a European Union Association Agreement; however, Russia will act correspondingly, if its economic interests are to get hit by the agreement, Dmitry Peskov, spokesman of Russian President Vladimir Putin, said.

Obama's Multimillion Aid to Syrian Rebels Might Fall into Terrorists Hands

Obama's Multimillion Aid to Syrian Rebels Might Fall into Terrorists Hands

WASHINGTON – President Barack Obama is asking Congress for $500 million in aid to give to moderate Syrian rebels. The White House says the money would go toward stabilizing areas under opposition control, facilitate the provision of essential services and promote conditions for a negotiated settlement.

Claude Salhani, senior editor of Trend News Agency in Azerbaijan, asks, "Who are the good guys, who are the bad guys?" How the U.S. will differentiate between extremists and moderates will be a hefty task. "The U.S. is going to have put together some fancy tricks to try and figure out who these moderates are, and how do we go about arming them and training them and supplying them. It's not an easy answer."

Donetsk Peoples Republic intends to leave Ukraine

Donetsk Peoples Republic intends to leave Ukraine

Self-proclaimed Donetsk People's Republic intends to leave Ukraine's jurisdiction and integrate with Customs Union to avoid economic fallout from Ukraine's association agreement with the EU, Donetsk Republic's deputy prime minister Andrei Purgin said.

"By making this decision Ukraine in fact cuts itself off from the Russian market. It is 99 percent machine manufacturing, metals industry, partially agriculture, etc... Possibly, from the side of the Customs Union and the Eurasian Economic Community [reaction] will not be head on, but more pin-pointed. In any case, losses in trade with Customs Unions will be upwards from 50 percent," Purgin said.