The EU Agriculture Commissioner revealed that in 2023, the trade volume of agricultural products between the EU and Russia increased significantly. Although the EU imposed some tariffs on Russian agricultural imports to slow down the import speed, the total trade volume did not change much, reflecting the principle of mutual benefit and win - win results in bilateral trade.
Affected by U.S. sanctions on Russia, China-Russia trade growth slowed significantly in the first two months of 2024, with total trade volume increasing by 9.3% YoY, while banks tightened trade settlements.
It introduced how Central Asia became a new channel for dual - use goods to flow to Russia after the Russia - Ukraine conflict, revealing the challenges of international sanctions and the complexity of the global trade network.
Russia will reduce oil production and exports in the second quarter of 2024 as part of the OPEC+ agreement, aiming to maintain market balance and price stability.
The U.S. President signed Executive Order 14114, expanding sanctions on foreign financial institutions engaged in transactions with Russias military-industrial base. The new regulations cover a wide range of financial entities and critical items, aiming to further restrict Russias access to military support resources.
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PSB Record: Shanghai No.31011502009912
