Russia

Russia’s Natural Resources and Environment Ministry estimates that the combined cost of the country’s oil, gas and other resources amount to 60 percent of its gross domestic product, the RBC news website reported on Thursday. As the world’s top natural gas producer and one of the largest oil-producing countries, Russia’s economy is heavily reliant on exports of its resources. These resources added up to a combined 55.2 trillion rubles ($844.58 billion) in value as of 2017, or 60 percent of Russia’s GDP that year, RBC reported. The Natural Resources and Environment Ministry estimates the cost of 9.04 billion metric tons of oil reserves at 39.6 trillion rubles. The 14.47 trillion cubic meters of gas reserves cost 11.3 trillion, the ministry is cited as saying. Russia’s 1,407 tons of gold and 375 million metric carats cost a respective 480 billion rubles and 505 billion rubles, the figures say. This is the first time Russia has … [Read more...] about Russia’s Natural Resources Make Up 60% of GDP – Reports

MOSCOW, Mar 14 (PRIME) -- Opel, controlled by France’s Peugeot-Citroen (PSA Group), will launch sales of models Grandland X, Zafira Life and Vivaro on the Russian market in October–December 2019 and will produce two of them at its facility in Kaluga, Peugeot-Citroen said in a statement on Thursday. “As it was said earlier, the brand is returning to Russia. Three models will be on sale already in the fourth quarter of 2019: Opel Grandland X, which will be imported from Eisenach (Germany), passenger bus Opel Zafira Life and commercial van Opel Vivaro Transporter. Opel Zafira Life and Opel Vivaro will be assembled on the lines of the Kaluga’s plant PSMA Rus,” Peugeot-Citroen said. In February, PSA Group decided to restart the sales of Opel cars in Russia after U.S. giant General Motors, the previous owner of the brand, terminated operations in the country in 2015. End 14.03.2019 11:15 … [Read more...] about Opel to start sales of 3 models in Russia in October–December

“Last year the grain harvest exceeded 113 million tonnes, significantly overshooting average annual figures for the past five years. This year we may harvest at least 118 million tonnes of grain, including 75–78 million tonnes of wheat,” he said. Russia is the world’s top wheat exporter, it is among the leaders in exports of fish and sunflower oil, it is opening and winning new markets with its poultry, dairy, confectionery products, and other goods, he said. Combined exports of agricultural products grew 20% to U.S. $25.9 billion in 2018, almost twice as much as exports of arms and weapons, winning Russia the status of an agricultural superpower back, Patrushev said. But this is not the time for the government to stay idle. “We have an ambitious goal of raising exports of our agricultural industry to $45 billion by 2024. Russia has all the necessary capabilities for that today, we have resources, technologies, and mechanisms of state support,” he … [Read more...] about Agriculture minister sees Russia’s 2019 grain harvest at 118 mln tns