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RUSSIA: Russia, China Must Counter US’ Containment Policy, Shoigu Says

RUSSIA
  • Countering the “dual containment” policy pursued by the US and its allies is the most important objective for Russia and China, Security Council Secretary Sergei Shoigu said according to Interfax.
  • Bloomberg report that Russia’s biggest miner, MMC Norilsk Nickel PJSC, is in advanced talks to build a large copper smelter on China’s south coast, citing people familiar with the situation. The plant would produce 500,000 tons of refined copper a year using concentrate shipped from Russia.
  • Vedomosti report that the Russian Union of Industrialists and Entrepreneurs has suggested that the central bank should target the ruble exchange rate for exporters and importers, arguing that the floating exchange rate regime has lost its relevance amid sanctions.
  • First Deputy Prime Minister Denis Manturov will attend a meeting of the Russian-Indian inter-governmental commission, according to Interfax. Meanwhile, the central bank publishes foreign trade data at 13:00GMT/16:00 local time. CPI data for October will cross the wires tomorrow afternoon and is the key release of the week.
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  • Countering the “dual containment” policy pursued by the US and its allies is the most important objective for Russia and China, Security Council Secretary Sergei Shoigu said according to Interfax.
  • Bloomberg report that Russia’s biggest miner, MMC Norilsk Nickel PJSC, is in advanced talks to build a large copper smelter on China’s south coast, citing people familiar with the situation. The plant would produce 500,000 tons of refined copper a year using concentrate shipped from Russia.
  • Vedomosti report that the Russian Union of Industrialists and Entrepreneurs has suggested that the central bank should target the ruble exchange rate for exporters and importers, arguing that the floating exchange rate regime has lost its relevance amid sanctions.
  • First Deputy Prime Minister Denis Manturov will attend a meeting of the Russian-Indian inter-governmental commission, according to Interfax. Meanwhile, the central bank publishes foreign trade data at 13:00GMT/16:00 local time. CPI data for October will cross the wires tomorrow afternoon and is the key release of the week.