India is considering establishing a payment mechanism in local currencies to allow it to continue trade with Russia, which has been hit with Western sanctions in response to its invasion of Ukraine. New Delhi is proceeding with purchases of Russian crude at discounted prices despite pressure from the United States. The state-run Indian Oil Corp. […]
Russia-Ukraine conflict starts to affect China-Europe trade
Chinese traders and logistics service providers have been ramping up efforts to cope with the rapidly evolving situation in Europe, as the Russia-Ukraine conflict raised concerns over potential impact on certain aspects of the China-Europe freight train and shipping routes by sea and air. While the actual impact remains unclear given the fast changing developments, […]
India Considering Rupee Payments For Trade With Russia: Report
India is working out a mechanism to facilitate trade with Russia using local currencies, with a decision expected as early as next week, according to people familiar with the matter. The government is discussing how trade can be settled in rubles and rupees as Indian exporters are awaiting payments of about $500 million… To read […]
Russia’s Rostec proposes collaborative long-haul aero engine development with China
By Charles F. Moreira, Editor Following the successful maiden flights of China’s COMAC C919 and Russia’s Irkut MC21 in May 2017, Russia’s state-owned industrial giant Rostec proposed joint collaboration with China on the development of aero engines for long-haul passenger airliners, based upon the Russian-made PD-14 high-bypass turbofan engine developed for the MC21, Russia Today […]