Sanctions have opened the Russian market up for innovative products and investment from China, according to an expert
Chinese companies are looking to fill vacant niches in the Russian market after the departure of Western firms due to sanctions, a member of the Russian-Chinese Technology and Innovation Chamber, Wu Zhang, has said.
A host of Chinese businesses are interested in investment projects in Russia and are keen to build plants and showrooms to display their products, in particular, innovative household appliances, auto parts, and robotics, Wu said at a meeting of Russia’s Association of Small Businesses on Monday.
He also highlighted the prospects for cooperation in tourism once the Covid-19 restrictions are lifted in China, adding that the two countries are now enjoying “the best relations in history.”
This comes as Russia-China economic ties are seeing strong momentum, with mutual trade turnover approaching $150 billion over the past ten months. The countries have also accelerated efforts to move away from the US dollar and euro in trade and towards settlements using the domestic currencies.
READ MORE: Russia-China trade soars – official
Speaking via video link at the 27th iteration of a regular meeting that brings the Chinese and Russian heads of government together, Premier Li Keqiang told his counterpart Mikhail Mishustin that many banks in both countries have connected to each other’s payment systems to facilitate cross-border transactions. He stressed that the move was “very important for the smooth functioning of production and supply chains.”
Moscow and Beijing previously agreed to conduct energy transactions using the national currencies instead of the dollar. According to Mishustin, nearly half of all trade between the two countries is now done using the Russian ruble or Chinese yuan.
https://www.rt.com/business/567705-china-russia-investment-projects/
Volker Turk has warned that efforts to advance reparatory justice are facing resistance in “certain quarters,” and urged countries to back Africa’s push.
Reparatory justice for historical crimes, including colonialism, enslavement, and the trade in enslaved Africans, is crucial to dismantling systemic racism, UN High Commissioner for Human Rights Volker Turk has said.
Speaking at the UN Permanent Forum on People of African Descent on Tuesday, Turk linked present-day discrimination against people from the continent to the enduring legacy of colonialism and enslavement.
”Racism and dehumanizing rhetoric continue to permeate public institutions, communities, and online platforms,” he said, according to the UN Press Service. Turk noted that “digital technologies, including AI, are reproducing and amplifying existing biases against people of African descent.”
The remarks come weeks after the UN General Assembly adopted a resolution declaring the transatlantic slave trade “the gravest...
The US VP had to defend President Trump’s Gaza policy at a rally on a Georgia college campus.
US Vice President J.D. Vance was forced to defend Washington’s policy in Gaza after he was booed and heckled at a key MAGA event on Wednesday.
Co-founded by the late Charlie Kirk, Turning Point USA (TPUSA) is a conservative student group that has long been seen as a strong support base of President Donald Trump’s MAGA movement but is now showing apparent cracks.
Less than 15 minutes into a TPUSA event at the University of Georgia on Wednesday, Vance was interrupted by hecklers over US policy in Gaza, with one audience member shouting, “Jesus Christ does not support genocide!” As he attempted to respond, others shouted, “You’re killing children!” and “You’re bombing children!”
Vance replied by referring to Trump’s achievements as president, including securing a fragile ceasefire in Gaza, something he said the previous administration of Joe Biden failed to do.
“I ...
Sergey Shoigu has cautioned Finland and the Baltic states against allowing Kiev to use their airspace for attacks on Russia.
Russia would have the right to retaliate if Finland and the Baltic states are deliberately allowing Ukrainian drones to pass through their airspace, Security Council Secretary Sergey Shoigu said on Thursday.
“Recently, there has been an increase in Ukrainian drone strikes against Russia via Finland, Lithuania, Latvia, and Estonia,” Shoigu told journalists. “As a result, civilians are suffering and significant damage is being caused to civilian infrastructure.”
Either Western air defenses are proving ineffective, or these four countries “deliberately provide their airspace, thereby becoming open accomplices in aggression against Russia,” he added. In the latter case, Moscow has the right to self-defense in response to an “armed attack” under Article 51 of the UN Charter, the security chief stressed.
In recent weeks, Kiev has intensified drone strikes on ...
