Latest news with #Chernyshenko
Yahoo
08-05-2025
- Business
- Yahoo
Russia promises to invest $1 billion in ally Cuba by 2030
HAVANA (Reuters) - Russia said its businesses would invest more than $1 billion in long-time political ally Cuba by 2030, Cuba's presidency said on Thursday, promising a lifeline for the communist-run Caribbean island amid a gruelling economic crisis. Russia had previously announced the so-called "Plan 2030" with Cuba, but for the first time put a price tag on a range of proposals to invest in key areas including electricity production, agriculture and public lighting. "Under this Plan, Russian companies and businesspeople have expressed their willingness and confirmed their readiness to invest more than $1 billion in the Cuban economy," said Russian Deputy Prime Minister Dmitry Chernyshenko. The statement immediately followed a meeting between Cuban President Miguel Diaz-Canel and Russia's Vladimir Putin at the Kremlin. Punishing sanctions from the United States, collapsing tourism and inefficient state-run production have hamstrung Cuba's economy, leaving it with little room to manoeuvre. Russia, which also faces stiff U.S. sanctions, has over decades provided Cuba with both financing and material goods, including cargoes of oil, infrastructure investments and, most recently, the promise of droves of Russian tourists. But Russia has often delayed and cancelled projects with Cuba in the past, saying the island nation has failed to make good on payments. Chernyshenko said Russia this time would subsidise interest rates for businesses interested in investing in Cuba as part of the plan, calling Cuba a "reliable partner". The timeline for the coming $1 billion in promised investment is unclear. "There's still a lot of hard work to be done, we'll advance little by little,' Chernyshenko told reporters in Moscow, adding that "it is impossible to achieve things immediately, as if by magic'. During his visit to Moscow and St. Petersburg this week, Cuba's Diaz-Canel also attended commemorative events for the 80th anniversary of the victory of the Soviet Union and its allies over Nazi Germany.
Straits Times
08-05-2025
- Business
- Straits Times
Russia promises to invest $1 billion in ally Cuba by 2030
HAVANA - Russia said its businesses would invest more than $1 billion in long-time political ally Cuba by 2030, Cuba's presidency said on Thursday, promising a lifeline for the communist-run Caribbean island amid a gruelling economic crisis. Russia had previously announced the so-called "Plan 2030" with Cuba, but for the first time put a price tag on a range of proposals to invest in key areas including electricity production, agriculture and public lighting. "Under this Plan, Russian companies and businesspeople have expressed their willingness and confirmed their readiness to invest more than $1 billion in the Cuban economy," said Russian Deputy Prime Minister Dmitry Chernyshenko. The statement immediately followed a meeting between Cuban President Miguel Diaz-Canel and Russia's Vladimir Putin at the Kremlin. Punishing sanctions from the United States, collapsing tourism and inefficient state-run production have hamstrung Cuba's economy, leaving it with little room to manoeuvre. Russia, which also faces stiff U.S. sanctions, has over decades provided Cuba with both financing and material goods, including cargoes of oil, infrastructure investments and, most recently, the promise of droves of Russian tourists. But Russia has often delayed and cancelled projects with Cuba in the past, saying the island nation has failed to make good on payments. Chernyshenko said Russia this time would subsidise interest rates for businesses interested in investing in Cuba as part of the plan, calling Cuba a "reliable partner". The timeline for the coming $1 billion in promised investment is unclear. "There's still a lot of hard work to be done, we'll advance little by little,' Chernyshenko told reporters in Moscow, adding that "it is impossible to achieve things immediately, as if by magic'. During his visit to Moscow and St. Petersburg this week, Cuba's Diaz-Canel also attended commemorative events for the 80th anniversary of the victory of the Soviet Union and its allies over Nazi Germany. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Reuters
08-05-2025
- Business
- Reuters
Russia promises to invest $1 billion in ally Cuba by 2030
HAVANA, May 8 (Reuters) - Russia said its businesses would invest more than $1 billion in long-time political ally Cuba by 2030, Cuba's presidency said on Thursday, promising a lifeline for the communist-run Caribbean island amid a gruelling economic crisis. Russia had previously announced the so-called "Plan 2030" with Cuba, but for the first time put a price tag on a range of proposals to invest in key areas including electricity production, agriculture and public lighting. "Under this Plan, Russian companies and businesspeople have expressed their willingness and confirmed their readiness to invest more than $1 billion in the Cuban economy," said Russian Deputy Prime Minister Dmitry Chernyshenko. The statement immediately followed a meeting between Cuban President Miguel Diaz-Canel and Russia's Vladimir Putin at the Kremlin. Punishing sanctions from the United States, collapsing tourism and inefficient state-run production have hamstrung Cuba's economy, leaving it with little room to manoeuvre. Russia, which also faces stiff U.S. sanctions, has over decades provided Cuba with both financing and material goods, including cargoes of oil, infrastructure investments and, most recently, the promise of droves of Russian tourists. But Russia has often delayed and cancelled projects with Cuba in the past, saying the island nation has failed to make good on payments. Chernyshenko said Russia this time would subsidise interest rates for businesses interested in investing in Cuba as part of the plan, calling Cuba a "reliable partner". The timeline for the coming $1 billion in promised investment is unclear. "There's still a lot of hard work to be done, we'll advance little by little,' Chernyshenko told reporters in Moscow, adding that "it is impossible to achieve things immediately, as if by magic'. During his visit to Moscow and St. Petersburg this week, Cuba's Diaz-Canel also attended commemorative events for the 80th anniversary of the victory of the Soviet Union and its allies over Nazi Germany.
The Star
08-05-2025
- Business
- The Star
Russia promises to invest $1 billion in ally Cuba by 2030
Russia's Deputy Prime Minister Dmitry Chernyshenko attends a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, June 4, 2021. REUTERS/Evgenia Novozhenina/File Photo HAVANA (Reuters) - Russia said its businesses would invest more than $1 billion in long-time political ally Cuba by 2030, Cuba's presidency said on Thursday, promising a lifeline for the communist-run Caribbean island amid a gruelling economic crisis. Russia had previously announced the so-called "Plan 2030" with Cuba, but for the first time put a price tag on a range of proposals to invest in key areas including electricity production, agriculture and public lighting. "Under this Plan, Russian companies and businesspeople have expressed their willingness and confirmed their readiness to invest more than $1 billion in the Cuban economy," said Russian Deputy Prime Minister Dmitry Chernyshenko. The statement immediately followed a meeting between Cuban President Miguel Diaz-Canel and Russia's Vladimir Putin at the Kremlin. Punishing sanctions from the United States, collapsing tourism and inefficient state-run production have hamstrung Cuba's economy, leaving it with little room to manoeuvre. Russia, which also faces stiff U.S. sanctions, has over decades provided Cuba with both financing and material goods, including cargoes of oil, infrastructure investments and, most recently, the promise of droves of Russian tourists. But Russia has often delayed and cancelled projects with Cuba in the past, saying the island nation has failed to make good on payments. Chernyshenko said Russia this time would subsidise interest rates for businesses interested in investing in Cuba as part of the plan, calling Cuba a "reliable partner". The timeline for the coming $1 billion in promised investment is unclear. "There's still a lot of hard work to be done, we'll advance little by little,' Chernyshenko told reporters in Moscow, adding that "it is impossible to achieve things immediately, as if by magic'. During his visit to Moscow and St. Petersburg this week, Cuba's Diaz-Canel also attended commemorative events for the 80th anniversary of the victory of the Soviet Union and its allies over Nazi Germany. (Reporting by Dave Sherwood; Editing by Ewan Harwood)
Russia Today
07-02-2025
- Business
- Russia Today
Moscow's upcoming Future Technologies Forum a 'unique platform'
Moscow is set to bring together top minds in science and business at its 'unique' annual Future Technologies Forum, Deputy Prime Minister Dmitry Chernyshenko has announced. The capital will host the flagship event on February 20-21, gathering scientists, entrepreneurs, investors, and government officials from Russia and abroad. The forum will showcase groundbreaking research and cutting-edge technologies that are expected to shape key industries in the years ahead, according to the event's official website. Held annually since 2023, each forum highlights a distinct technological domain. Chernyshenko told RT on Thursday that in past years the event has showcased quantum communications and medical advancements, while this year's theme will be new materials and chemistry. 'This is a unique platform where the science of the future is discussed,' he stated. The collaboration between science, industry, and government is crucial to securing Russia's leadership in technology – a goal set by President Vladimir Putin, Chernyshenko added. Read more Russian lab touts MRNA cancer vaccine by end of year Achieving this objective will require close cooperation among research institutions, businesses, and academia, along with proper state support, First Deputy Prime Minister Denis Manturov noted last month in a statement about the forum's upcoming agenda. 'The New Materials and Chemistry National Project will accelerate industry development, launch new production facilities, and boost the chemical sector's contribution to GDP,' Manturov, who leads the initiative, explained. According to the program outline, the forum will feature discussions across four primary themes: 'Chemistry and High-Purity Substances', 'Modern Materials and Technologies', 'New Horizons', and 'Ecosystem'. The 'Chemistry and High-Purity Substances' segment will address the production and domestic manufacturing of essential chemical components, as well as advancements in high-tech chemistry for next-generation materials. 'Modern Materials and Technologies' will explore the role of innovative substance in fields such as biomedicine, transportation engineering, and nuclear energy. READ MORE: 'Cancer will evolve but can be defeated in its current form' – head of Gamaleya research institute The 'New Horizons' segment will highlight the materials driving progress in emerging sectors, including space exploration, nanomaterials for energy solutions, and quantum metamaterials, which feature extraordinary properties not found in nature. Finally, the 'Ecosystem' segment will focus on regulatory frameworks, standardization, infrastructure, and workforce development for these evolving industries.
