AgenciesTalks are underway between Moscow and New Delhi regarding the launch of Indian retail store chains in Russia, President Vladimir Putin said on Wednesday while addressing a BRICS business forum.
“Contacts between Russian business circles and the business community of the BRICS countries are being activated. For example, negotiations are underway to open Indian retail chain stores in Russia, to increase the share of Chinese cars, equipment and machinery in our market. Russia’s presence in [BRICS] countries is also expanding,” Putin stated.
However, Putin did not disclose which of these Indian chains could be coming to Russia.
Last month, Russia became India’s second-largest oil supplier, overtaking Saudi Arabia.
According to Putin, other spheres of cooperation with India and other BRICS nations are also strengthening.
“The volumes of Russian oil deliveries to China and India are growing noticeably. Cooperation in the field of agriculture is developing dynamically. Russia exports significant volumes of fertilizers to the BRICS countries. Russian IT companies are expanding their activities in India and South Africa, and our satellites provide TV broadcasting to 40 million people in Brazil,” the Russian president informed.
Meanwhile Switzerland imported gold from Russia for the first time since the war.
More than 3 tons of gold was shipped to Switzerland from Russia in May, according to data from the Swiss Federal Customs Administration. That’s the first shipment between the countries since February.
The shipments represent about 2% of gold imports into the key refining hub last month. It may also mark a change in perception of Russian bullion, which became taboo following the invasion, according to a Bloomberg report.
“While that was viewed as a de facto ban on fresh Russian gold from the London market, one of the world’s biggest, the rules don’t prohibit Russian metal from being processed by other refiners. Switzerland is home to four major gold refineries, which together handle two-thirds of the world’s gold,” the Bloomberg reported.
“Contacts between Russian business circles and the business community of the BRICS countries are being activated. For example, negotiations are underway to open Indian retail chain stores in Russia, to increase the share of Chinese cars, equipment and machinery in our market. Russia’s presence in [BRICS] countries is also expanding,” Putin stated.
However, Putin did not disclose which of these Indian chains could be coming to Russia.
Last month, Russia became India’s second-largest oil supplier, overtaking Saudi Arabia.
According to Putin, other spheres of cooperation with India and other BRICS nations are also strengthening.
“The volumes of Russian oil deliveries to China and India are growing noticeably. Cooperation in the field of agriculture is developing dynamically. Russia exports significant volumes of fertilizers to the BRICS countries. Russian IT companies are expanding their activities in India and South Africa, and our satellites provide TV broadcasting to 40 million people in Brazil,” the Russian president informed.
Meanwhile Switzerland imported gold from Russia for the first time since the war.
More than 3 tons of gold was shipped to Switzerland from Russia in May, according to data from the Swiss Federal Customs Administration. That’s the first shipment between the countries since February.
The shipments represent about 2% of gold imports into the key refining hub last month. It may also mark a change in perception of Russian bullion, which became taboo following the invasion, according to a Bloomberg report.
“While that was viewed as a de facto ban on fresh Russian gold from the London market, one of the world’s biggest, the rules don’t prohibit Russian metal from being processed by other refiners. Switzerland is home to four major gold refineries, which together handle two-thirds of the world’s gold,” the Bloomberg reported.
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