Category: Russian Economy

Posted on

Russia and Thailand held a meeting of the subcommittee on trade and economic cooperation

Translation. Region: Russian Federal

Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

An important disclaimer is at the bottom of this article.

The fifth meeting of the Russian-Thai Subcommission on Trade and Economic Cooperation (PTEC) after a five-year break was held on July 15-16 in Bangkok. The Russian delegation was headed by Deputy Minister of Economic Development Vladimir Ilyichev, and the Thai delegation was headed by Deputy Minister of Trade of the Kingdom of Thailand Chanthavit Thanthasit. The subcommission was attended by 60 representatives of Russian and Thai authorities, industry associations and companies.

During the meeting, the parties discussed the current state of bilateral trade and economic relations and proposed new areas for implementing joint projects.

"We are seeing positive dynamics in bilateral trade. In particular, according to the results of the first five months of 2025, the trade turnover between Russia and Thailand has grown by almost 10%, and the export of Russian products to Thailand has grown by 50%. At the same time, we see potential for the export of low-carbon energy resources, agricultural and pharmaceutical products, and oil and gas equipment to Thailand. In addition, we note the mutual interest of companies in developing investment cooperation," Vladimir Ilyichev noted in his speech.

The Thai side confirmed its interest in developing partnership with Russia.

"Thailand seeks to develop trade and economic relations with its key partners, and Russia is such a partner for us. We consider trade in agricultural products, green energy, IT and infrastructure development to be priority areas of cooperation with Russia," Chanthavit Thanthasit emphasized.

Russian companies and agencies drew the attention of the Thai side to the prospects for joint work in the areas of logistics, medicine, and IT technologies. Deputy Commercial Director for Business Development in Asian Countries of FESCO Integrated Transport LLC Alexander Priskoka suggested that Thai businesses use the company's regular services for cargo delivery from the port of Bangkok to the ports of Vladivostok (delivery time was reduced to 20 days), as well as to the ports of Novorossiysk and St. Petersburg (delivery time was reduced to 40 days). In addition, the Chairman of the Russian-Thai Business Council Ivan Demchenko announced the imminent launch of a direct line from the port of Novorossiysk to the port of Bangkok.

Vice President for International Cooperation of AFK Sistema Artem Zasursky revealed the prospects for joint work in the areas of river transport, electronics and forestry industry, IT projects. He placed emphasis on the development of cooperation in the tourism sector.

"The companies in our portfolio, namely travel booking services, are ready to develop cooperation with interested partners in the hospitality industry. We also inform you about the interest of the Russian operator in developing resort projects in the regions of Thailand that are popular with Russian tourists," said Artem Zasursky.

Vice President of the Federation of Thai Industries Thansathit Asi and Vice Chairman of the Thai-Russian Business Council Hemmontharop Wiwat confirmed the Thai side's interest in business cooperation. Thai businessmen noted the prospects for developing cooperation with Russia in the field of medicine, as well as in the field of cybersecurity and decarbonization of production.

During the meeting of the PTES, special attention was paid to cooperation in the creative economy.

"In February, we signed a Memorandum of Understanding with the Agency for Creative Industries of Thailand. We are developing a roadmap for cooperation in the creative industries. We also invite specialized Thai associations to join the joint work and take part in the first International Conference on Creative Economy, which will be held on October 8-9 in St. Petersburg," said Ekaterina Cherkes-Zade, Director of the Center for Creative Economy Development at the Agency for Strategic Initiatives, in her speech.

To develop business contacts between Russian and Thai businesses, Ivan Demchenko invited the PTEC participants to take part in the Russian-Thai Business Forum, which the Russian-Thai Business Council is holding on November 26–28 in Phuket.

"I hope that we will see concrete results of our joint work in the near future. We count on the support of the Thai side in expanding the bilateral economic dialogue between our countries," Vladimir Ilyichev summed up following the meeting.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Posted on

Financial news: The Bank of Russia is improving approaches to calculating standards.

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

From August 18, 2025, banks will begin calculating capital adequacy standards according to new instructions from the Bank of Russia No. 220-I And No. 221-I.

The new rules imply the transition of all banks with a universal license to a finalized (more risk-sensitive) approach to calculating capital adequacy standards. The standard approach will be retained for banks with a basic license and non-bank credit institutions.

Other important changes include:

— the criteria for classifying borrowers as investment grade have been improved (in particular, a condition has been added for having a credit rating of at least “A”), to which a reduced risk weight is applied;

— differentiated risk weights have been introduced for loans to subjects and municipalities of Russia depending on the level of credit rating from Russian rating agencies, and in its absence, on the level of debt sustainability as assessed by the Ministry of Finance of Russia (in the future, it is planned to completely switch to credit ratings);

— risk weights for mortgage loans at the construction stage are equal to those used for mortgages on completed housing, and those, in turn, are calibrated based on default statistics;

— when calculating macroprudential premiums, a single multiplicative approach will be applied both for banks using approaches to risk assessment based on internal ratings and for other banks;

— further important steps have been taken to address the problem of credit concentration: firstly, under repo transactions the risk will be considered to be on the issuer of securities accepted as collateral if the borrower's rating is below "AA"; secondly, banks will be able to transfer the concentration risk from the borrower to a reliable guarantor/surety/issuer of securities accepted as collateral.

The changes will help to more accurately assess risks, will help to level the playing field for competition, and will also support balanced growth in lending to the economy.

To make it easier for banks to adapt to the new regulations, some of the innovations will only apply to new loans, that is, those issued after August 18, 2025.

Preview photo: focal point / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Posted on

Financial news: The Bank of Russia has clarified the criteria for obtaining the status of a qualified investor

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The income level has been specified as an independent criterion for obtaining the status of a qualified investor: it must be at least 12 million rubles per year over the past 2 years. In combination with other criteria – complicated testing, education or an academic degree – the requirement is reduced to 6 million rubles. Income from the sale of real estate will not be taken into account. Such parameters are defined inindication Bank of Russia, which was registered by the Ministry of Justice.

According to the educational criterion, instead of the current requirement for higher economic education, a list of specialties and areas of training is established, including in combination with the income or property criterion. Thus, a person can become a qualified investor if he received an education in the specialty "Accounting, Analysis and Audit" or "Taxes and Taxation" and his average annual income is 6 million rubles. International certificates, which are already used as requirements for investment advisers, have been added to the list of certificates taken into account when recognizing an investor as qualified.

The parameters of the property criterion have not changed: now the minimum amount of assets that a person must own is 12 million rubles, and from January 1, 2026, it will increase to 24 million rubles. But in combination with other criteria, the requirements will be 2 times less – 6 million and 12 million rubles, respectively.

The regulation will come into force on July 28, 2025.

Preview photo: Vitalii Vodolazskyi / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Posted on

Monthly interest on a deposit: save or spend?

Translation. Region: Russian Federal

Source: Solid Bank – Solid Bank –

An important disclaimer is at the bottom of this article.

We are sure that investors who place funds in deposits with monthly interest payments have at least once asked themselves: is it better to save interest or live on interest and spend it on their personal needs? Today we will figure this out.

There is no right answer to this question. Here everyone chooses their own option – what is better, what is more profitable, what fits into individual plans. The most important thing is that the answer to this question depends on your ultimate financial goals, plans and life habits.

The option to save interest, as well as the option to live on interest, have their own characteristics (advantages and disadvantages). It is worth evaluating what will suit your strategy better.

We accumulate interest:

• This option is definitely suitable if your goal is to increase your capital. Please note that the deposit terms should include not only the option of monthly interest payments, but also capitalization. With its help, the interest accrued monthly will be automatically added to the deposit amount. Thus, the income increases compared to deposits without capitalization. This is the effect of compound interest.

• We protect your funds from inflation and fraud. If you are worried that your savings are depreciating, that there may be a sharp decline in the economy, etc., you should consider a deposit as a savings instrument. Due to the interest, you protect your money from depreciation, and also keep it in a safe and secure place, while the investments will be insured by the Deposit Insurance Agency within 1.4 million rubles. In the event of an unforeseen situation, you will receive compensation.

• Develop financial discipline. Agree that the ability to save money is not inherent to everyone. For some it comes easy, for others it does not work at all, and all attempts do not end with a successful result. Opening a deposit will help develop this skill. You will not be tempted and able to "get into" savings, since, most often, the terms of deposits do not provide for the withdrawal of funds before the deposit term without sanctions for the depositor. Usually, funds can be withdrawn only if the interest paid earlier is lost. This fact will keep you from temptations. For this purpose, a deposit in Solid Bank – "Solid" is perfect. Where you can now place money at an attractive interest rate, which can become higher with capitalization. More details here.

We spend interest:

• A deposit is an additional source of income. For example, you are a pensioner, have some savings, and you do not need to use them for large purchases. By placing money in the Bank at interest, you can receive a monthly increase to your pension. This will allow you to improve your standard of living now. Our "Pension" deposit is ideal for this. You can study the conditions at the link. The option – spending interest strategically is suitable for anyone who wants to use the deposit as a passive source of income for current needs.

The most important thing for you is to know your goals and, based on this, choose financial instruments. We are always ready to consult each of you and help you choose the right options. Contact us at our offices or on the hotline: 8 800 775 56 06.

JSC Solid Bank. General license of the Central Bank of the Russian Federation No. 1329.

VBV. SOLIDBANK.ru

8 800 775 56 06 (free call within Russia)

Share the news on social networks

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

.

Posted on

Financial News: Regional Economy Report: Economic Activity Growth Moderates

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

In May and June, growth in production and consumption became more moderate. However, the situation was uneven across industries and regions.

More restrained dynamics of demand in the housing market reduced the launch of new projects in many regions of the country, furniture production in Central Russia and the Volga region decreased. At the same time, cargo turnover of the ports of the Far East increased again, the output of meat and dairy enterprises in the Urals and the North-West remained at a high level. In Siberia, after 2 years of growth, the volumes of paper and paper products production stabilized, including due to difficulties with export.

Special topics of this issue are the dynamics of import deliveries and stocks, the situation on the labor market, and the passenger car market.

Read more in the July report "Regional Economy: State University Comments".

Preview photo: Donat Sorokin / TASS

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Posted on

Financial News: Institutions Should Be More Responsible About Stock Investing

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The Bank of Russia has developed Code of Responsible Investment for banks, insurers, management companies, NPFs and other institutional investors who place funds in equity instruments. The regulator suggests that they adhere to a number of principles that will increase the return on investment not only through effective management of the securities portfolio, but also through active interaction with issuers.

Institutional investors are currently little involved in the corporate governance of joint-stock companies. The Code requires them to be more actively involved in the life of issuers in order to improve the long-term prospects of companies – primarily to help increase their shareholder value. When investing, "institutionalists" should pay attention primarily to companies that have adopted strategy to increase shareholder valueIf such a document does not exist, investors can exercise their corporate rights and encourage the issuer to develop it.

Those who adhere to the Code are required to publicly report annually on their compliance with these principles.

Compliance with the principles of the Code will contribute to the development of the equity capital market and increase the capitalization of the Russian stock market.

Preview photo: Sirtravelalot / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Posted on

Financial News: What the trends say: Inflation is returning to target.

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

In June, the monthly growth of seasonally adjusted consumer prices slowed down, and in annual terms it was close to the inflation target. Inflation expectations of enterprises and the population decreased, and the growth of enterprise costs slowed. At the same time, price dynamics remain uneven across segments, and fixing inflation at the target level requires additional confirmation. A sustainable reduction in inflation to 4% and its stabilization at this level require maintaining tight monetary conditions for a long time.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Posted on

Financial news: Mass implementation of the digital ruble will begin on September 1, 2026

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The largest banks will have to be the first to provide their clients with the opportunity to use digital rubles: open accounts, make transfers, pay for purchases and services, and perform other transactions. Gradually, by September 2028, all banks will have this obligation. The corresponding law The State Duma adopted it today.

Trading companies that are clients of the largest banks and whose revenue for the past year exceeds 120 million rubles will also have to provide the ability to pay for goods and services in a digital form of the national currency from September 1, 2026.

Banks with a universal license and their clients — trading companies with annual revenue of over 30 million rubles — will have to start working with digital rubles from September 1, 2027. Other banks and sellers with revenue of less than 30 million rubles per year — from September 1, 2028. The obligation to accept payments in digital rubles will not apply to retail outlets whose annual revenue is less than 5 million rubles.

The law also sets the launch dates for a universal QR code based on the National Payment Card System (NSPK) solution. It will allow both buyers and sellers to significantly simplify the payment process without cards and avoid confusion when there are many QR codes at the checkout. The universal QR code can be used to access various payment options: the Fast Payment System, banking services or installment plans, and in the future, digital rubles. At the same time, the bonuses and discounts of the selected payment method are retained.

All banks must complete the preparation of their systems to work with the universal QR code by September 1, 2026. However, they can do it earlier if they wish.

NSPK will provide banks with a free universal QR code service. This will reduce their integration costs. The timeframes within which banks will be required to connect the universal QR code to sellers will be determined by the Board of Directors of the Bank of Russia.

Let us recall that digital rubles will be in circulation along with cash and non-cash. People will be able to create a wallet and use the digital national currency through the usual applications of banks connected to the digital ruble platform of the Bank of Russia. All transactions with the digital national currency for citizens will be free. The choice of whether to use digital rubles or not remains with the person.

Read more about the digital ruble on the website Bank of Russia.

Preview photo: Hamara / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Posted on

Financial news: Guarantee system for IIS-3.

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

A system of guaranteeing property on individual investment accounts (IIA) of the third type will appear in Russia. It will be possible to count on compensation for assets in the event of bankruptcy of the professional participant who was engaged in maintaining the account. Such law adopted by the State Duma.

The compensation fund will be formed from voluntary contributions of professional participants who work with IIS and have joined the guarantee system. The operator of the system will be the currently operating Federal Public-State Fund for the Protection of the Rights of Investors and Shareholders, which will be renamed the Individual Investment Account Guarantee Fund. It will determine the amount of contributions and will be responsible for payments.

An affected investor may apply to this fund if he/she has not received his/her assets in full within 6 months after the professional participant has been declared bankrupt and bankruptcy proceedings have begun. The maximum compensation amount is 1.4 million rubles for all accounts opened with the bankrupt.

The law defines the specifics of participation in the guarantee system, the procedure for the formation of the compensation fund and the investment of its funds, and also establishes requirements for the structure and powers of the governing bodies of the system operator.

Preview photo: Cholpan / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Posted on

Financial news: Annual inflation falls for fifth month in a row.

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

In June, annual inflation decreased to 9.4%. Seasonally adjusted monthly price growth was 4.0% in annual terms. Differences in price dynamics by groups of goods and services remained significant.

The monthly increase in food prices has decreased. The rate of increase in meat prices has decreased the most, while fruits and vegetables have become cheaper faster than the seasonal norm. The growth in prices for household and medical services has slowed somewhat, but remains high. Prices for non-food products, excluding petroleum products, have not changed on average.

Despite the decline, annual inflation in June was still significantly above the target. The Bank of Russia intends to return it to 4.0% in 2026 and keep it close to this level in the future.

For more details, read the Bank of Russia's information and analytical commentary "Dynamics of consumer prices".

Preview photo: Leny Studio / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.