Russia - Latest News/Current Events, Economic Overview & Trade Relations
AEI | Quick Facts about Russia
| Official Name | Russian Federation |
| Capital | Moscow |
| Location | Northern Asia (the area west of the Urals is considered part of Europe), bordering the Arctic Ocean, between Europe and the North Pacific Ocean |
| Area | total: 17,075,200 sq km land: 16,995,800 sq km water: 79,400 sq km |
| Climate | ranges from steppes in the south through humid continental in much of European Russia; subarctic in Siberia to tundra climate in the polar north; winters vary from cool along Black Sea coast to frigid in Siberia; summers vary from warm in the steppes to cool along Arctic coast |
| Terrain | broad plain with low hills west of Urals; vast coniferous forest and tundra in Siberia; uplands and mountains along southern border regions |
Editor PicksBrowse Asia News Archive
Russia Seeks for a New Currency
BRIC leaders will discuss new reserve currencies at the summit but called for caution in the currency debate, saying it was in no-one's interest to ruin the dollar. He said new reserve currencies were inevitable.
read full newsRussia May Reduce Investments in U.S Treasuries
Russia currently has about $140 billion worth of investments in U.S Treasuries. First deputy chairman of Bank Rossii, Alexei Ulyukayev, announced that some reserves were going to be moved into International Monetary Fund debt. On May 26, Finance Minister…
read full newsRussian GDP Shrinks 7 Percent
The Russian economy shrank by 7 percent in the first quarter according to Deputy Economic Development Minister Andrei Klepach.
read full newsRussia: Gas Output Dropped Sharply in March
Gazprom's March gas production slumped by one-quarter from a year ago as demand shriveled in Europe and at home and buyers delayed purchases in hopes that prices would fall.
read full newsRussian Food Retailer to Expand Aggressively
Regional food retailer Magnit reported better-than-expected 2008 results for net income and revenue on Wednesday, and it pledged to carry its aggressive expansion plan into 2009.
read full newsRussian Home Building on the Rise
The number of homes completed in the first two months of this year surpassed the number in the same period last year, Regional Development Minister Viktor Basargin said Monday.
read full newsBrowse Asia News Archive
Trade Agreements
Armenia-Russian Federation
There is no text available on this agreement, except for the WTO notification report. However, its content should be very similar to Armenia's other agreements with former soviet republics.
CISFTA - Commonwealth of Independent States FTA
Belarus
Georgia
Moldova, Republic Of
UkraineNever fully implemented by all members, although Free Trade Area was created in 1999; future prospects unclear. http://www.worldtradelaw.net/fta/agreements/cisfta.pdf
Eurasian Economic Community Customs Union
The EAEC attempts substantial integration in post-soviet nations. It arose out of the CIS customs union as all the members were CIS members. The agreement strives to create a common market, customs union, standardized currency exchange, develop programs for social and economic development, a general energy market and several equal rights for citizens, including health care. The EAEC consists of an intergovernmental council, Secretariat, Commission of the Permanent Representatives, Interstate parliamentary assembly, Law Court, and Integration Committee. http://secretariat.efta.int/Web/ExternalRelations/PartnerCountries/Singapore
Georgia - Russian Free Trade Agreement
GeorgiaFree Trade Agreement between Geargia and Russian Federation
Kyrgyzstan - Russia Free Trade Agreement
http://www.worldtradelaw.net/fta/agreements/kyrrusfta.pdf
Kyrgyzstan - Russian Federation Free Trade Agreement
Free trade agreement between Kyrgyzstan and Russia
Trade Organizations
Asia-Pacific Economic Cooperation (APEC)
Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim countries or regions (styled 'member economies') to discuss the regional economy, cooperation, trade and investment. The membership is claimed to account for approximately 41 percent of the world's population, approximately 56 percent of world GDP and about 49 percent of world trade. The activities, including year-round meetings of the members' ministers, are coordinated by the APEC Secretariat.
Commonwealth of Independent States (CIS)
The Commonwealth of Independent States is an international Organization or alliance consisting of 11 former Soviet Republics. The members are Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Ukraine and Uzbekistan.
Eurasian Economic Community (EuAsEC or EAEC)
The Eurasian Economic Community (EuAsEC or EAEC) is an intergovernmental organization of 6 nations and is also part of the CIS Customs Union. All members are also members of the older Commonwealth of Independent States.