Russia’s international reserves grew $2.5 bln over the week from August 12 to August 19 and totaled $398.2 bln, the Central Bank said on Thursday, reports Russian state news agency TASS. Having built up over half a trillion of foreign currency reserves during the hay day of high oil prices,…
I’ll Take An AK-47 From Duty Free Please…Moscow Kalashnikov store at Sheremetyevo Airport.
A key initiative of the Russian government is to diversify the economy away from hydrocarbons. The arms industry has historically been a very important Russian export. However, it seems efforts to grow the domestic farm industry are paying off with agriculture exports currently running ahead of weapons shipments. Exports of…