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Government Preparing New Measures to Support Businesses in Face of Mouting Sanctions

RUSSIA
  • Due to the decline of non-resource exports and the tightening of secondary sanctions, the Russian government is preparing new measures to support companies working abroad, Kommersant report.
  • Russian steel exports to India jumped 48% to 686,533 tonnes in 2023, Indian statistics cited by Vedomosti showed. By value, exports grew 34% to $429m. Vedomosti’s analysts note that while India is not the most attractive market for Russian steel exporters due to expensive logistics, price discounts and the inability to supply products with high added value, they have few alternatives.
  • Foreign Minister Sergei Lavrov continues his trip to South America with a visit to Brazil. Money supply and gold and forex reserve data are the highlights on the local slate today. There are no major releases scheduled for tomorrow.

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