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Russia Today
18-03-2025
- Business
- Russia Today
West uses sanctions against Russia as an instrument of ‘strategic pressure'
Western sanctions are not a temporary measure but rather a tool for applying strategic pressure on Russia, President Vladimir Putin has said. The country's rivals will always seek to weaken it, he added on Tuesday, speaking during a meeting of the Russian Union of Industrialists and Entrepreneurs in Moscow. According to the president, a total of 28,595 sanctions have been imposed against Russian companies and individuals in recent years. He added that the West does not intend to hold back, threatening new sanctions and 'churning out these packages one after another.' 'Sanctions are not temporary or targeted measures; they are a mechanism of systemic, strategic pressure on our country,' Putin said. According to Putin, even if sanctions against the country are eased, the West will find another way to 'throw a wrench in the works.'
Russia Today
18-03-2025
- Politics
- Russia Today
Putin to hold phone call with Trump
Russian President Vladimir Putin is due to speak on the phone with his US counterpart, Donald Trump, later today. The Ukraine conflict and a possible ceasefire are expected to be discussed. Ahead of the crucial call, Putin spoke with members of the Russian Union of Industrialists and Entrepreneurs (RSPP) on the country's successful resistance to Western sanctions.
Russia Today
07-03-2025
- Business
- Russia Today
Russia ‘keeping cards close to its chest' in US sanctions talks
Russia holds strategic business 'cards' that it can use in negotiations to normalize relations with the US, Aleksandr Shokhin, president of the Russian Union of Industrialists and Entrepreneurs (RSPP), has said. Speaking to the media on Friday, Shokhin reflected on recent discussions with Robert Agee, head of the American Chamber of Commerce in Russia (AmCham). Agee has urged the administration of US President Donald Trump to lift certain economic sanctions on Russia. While business leaders see an opportunity to capitalize on the thaw in US-Russian relations initiated by Washington, Shokhin cautioned that a measured approach is necessary for lasting progress. 'We shouldn't reveal our cards too soon, to borrow from Trump's vocabulary. We have some that we're keeping close to our chest for now,' he remarked. Trump has frequently used gambling metaphors when discussing political leverage. Last Friday, he told Ukrainian leader Vladimir Zelensky that he has 'no cards' to play in the conflict with Russia without US support. In an interview with Russian media on Friday, Agee advocated easing restrictions in areas such as aviation, investment and banking. Shokhin agreed with these priorities, noting that they are key topics in the RSPP's discussions with American business representatives. 'We would certainly welcome the re-entry of Russian banks into the SWIFT system and the normalization of financial transactions,' he said, acknowledging that both the RSPP and AmCham consider this a 'challenging' objective. The Belgium-based payment system operates outside US jurisdiction, complicating any efforts to reintegrate Russian banks. Trump's administration has taken a different approach from that of his predecessor, Joe Biden, who sought to diplomatically isolate Moscow and weaken its economy through unilateral sanctions. The current White House argues that a pragmatic foreign policy requires engaging both allies and rivals, emphasizing that improving ties with Russia aligns with American interests.
Russia Today
25-02-2025
- Business
- Russia Today
Russia plans to increase fertilizer supplies to Ghana
Russia is considering increasing its fertilizer exports to Ghana, Dmitry Mazepin, an official of the Russian Union of Industrialists and Entrepreneurs (RSPP), has stated. The West African nation has experienced a decline in agricultural output in recent years, contributing to a global cocoa bean shortage. The chairman of the RSPP commission on fertilizer production told Rossiya-24 in an interview published on Monday that Russia has extensive interests in Africa, with Ghana being strategically important for various reasons, including its agricultural sector. 'I flew to Ghana for the first time at the invitation of the country's leader. We hope that we will understand under what conditions we can expand our presence,' Mazepin stated. He said last year alone, the African country imported about 100,000 tons of Russian fertilizers. According to Observatory of Economic Complexity data, Ghana imported $27.8 million worth of nitrogenous fertilizers from Russia in 2023. 'We want to increase these figures, so I flew in to see what opportunities we have,' the former CEO of Russian fertilizer giant Uralchem said. Ghanaian President John Dramani Mahama, who took office in January, has pledged to ensure food security by increasing local production under the Agriculture for Economic Transformation Agenda. On February 14, the country's agriculture minister told lawmakers that the government is determined to boost crop yield and secure Ghana's position as the world's second largest cocoa producer. Russia is one of the world's leading fertilizer producers. However, Western sanctions imposed on Moscow in connection with the Ukraine conflict have affected deliveries, which plunged 15% year-on-year in 2022. A total of 262,000 tons of Russian fertilizers had been blocked at ports in Latvia, Estonia, Belgium, and the Netherlands. Moscow offered to give the commodity for free to countries in need, including Africa, in order to strengthen the continent's food security. Since late 2022, Uralchem has supplied more than 134,000 tons of fertilizers to African nations free of charge. Over 111,000 tons have been shipped from European ports and warehouses to Malawi, Nigeria, Kenya, and Zimbabwe in collaboration with the UN World Food Program. In November, Russian fertilizer producer PhosAgro reported a 41% surge in exports to Africa for the first nine months of 2024, compared to the same period of the previous year.
