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Prior to the February 2022 invasion, Chinese cars accounted for less than 10% of the Russian market. Russia has jumped from 11th place to become China's largest export market for cars, reaching a value of $9.4 billion in January-October, Chinese customs data showed. Overall, monthly car sales in Russia are now more than double what they were a year ago, Autostat data showed, while separate data from federal statistics service Rosstat showed car production was nearly three times higher in September year-on-year, underlining the sector's partial recovery. 'UNSTABLE, SHAKY' MARKETSanctions against Russia contributed to lower car production and sales most notably in 2022, but also after Moscow annexed the Crimean peninsula from Ukraine in 2014. Meanwhile, the rouble's slide to 100 against the dollar this year has made imports more expensive, depressing purchases of Chinese cars.

Persons: PPK, Sergei Udalov, Udalov, Russia's, Natalia Zubarevich, Zubarevich, Gleb Stolyarov, Alexander Marrow, Zoey Zhang, Vineet Sachdev, Mike Collett, White, Mark Potter Organizations: Reuters, Reuters Graphics, Chery, Geely, HK, West shuns, Autostat, Russia, Western, Reuters Graphics Reuters, Moscow State University, Wages, Lada, Thomson Locations: MOSCOW, Russia, Moscow, Ukraine, Soviet, Beijing, China, West shuns Russia, Western

☆ Moscow tells officials to buy Russian Ladas, Chinese cars
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Alexey Malgavko//File Photo Acquire Licensing RightsOct 20 (Reuters) - Russia's government on Friday published a list of domestically-produced cars that state officials should buy, all either Russian or Chinese brands, highlighting Beijing's infiltration of Russia's automobile industry since the Ukraine war. As the West shuns Russia, Russia has shunned Western corporations. The Russian cars listed were five Lada models, produced by Russia's largest carmaker Avtovaz, as well as the UAZ, Aurus and Moskvich brands, and Evolute electric cars. The Moskvich, a revived Soviet-era car, is emblematic of China's growing sway over Russia's car industry. Five models of Chinese carmaker Haval, which has been producing cars at its plant in the Tula region, 200 kilometres from Moscow, since 2019, were listed.

Persons: VAZ, Alexey Malgavko, Vladimir Putin, Sehol, Haval, Gleb Stolyarov, Alexander Marrow, Barbara Lewis Organizations: Lada, REUTERS, Renault, Nissan, West shuns, Kommersant, Apple, Industry and Trade Ministry, Russia's, Reuters, Thomson Locations: Soviet, Izhevsk, Russia, Ukraine, West shuns Russia, Moscow, Tula

☆ China's trade with Russia hit a record $190 billion in 2022 as Moscow deepens partnership with Beijing amid withering western sanctions
▼ + stars: | 2023-01-13 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

China's trade with Russia hit a record $190 billion in 2022, a sign Moscow is deepening its partnership with Beijing. Trade with Russia made up 3% of China's total trade volume last year, per a Reuters report. Trade with Russia also made up 3% of China's total trade volume last year, per a Reuters report. A Reuters analysis of industry data found that Russian rail exports of liquefied petroleum gas to China more than doubled in 2022, and Russian oil exports rose 10% in the first 11 months of 2022. That's largely the result of Russia leaning more on China as its trade volume gets battered by Western sanctions.

☆ India sends more vacuum gasoil to the U.S. as the West shuns Russian oil
▼ + stars: | 2022-11-11 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +3 min

The United States and Canada banned Russian oil imports over Moscow's invasion of Ukraine, while sanctions from the European Union on Russian crude and oil products imports will take effect on Dec. 5 and Feb. 5, respectively. Meanwhile, India, the world's third-largest oil importer, has been ramping up Russian crude imports and increasing oil product exports to the West for higher margins. A vessel ships vacuum gasoil from India to the U.S.India's VGO exports to the United States climbed in 2022 compared with last year. "Given that the U.S. is not buying Russian oil, they are looking for any and all alternatives," said Roslan Khasawneh, senior fuel oil analyst at Vortexa. U.S. and EU sanctions do not apply to refined products produced from Russian crude exported from a third country as they are not of Russian origin.

☆ Russian c.bank: No need to ease capital controls further for now
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

The rouble has become the world's best-performing currency this year, boosted by capital controls that include curbs on foreign currency withdrawals. Nabiullina warned against underestimating the impact of sanctions imposed against Russia over its actions in Ukraine, but said Russia's economy and banking sector have stood up well to the challenge. "Sanctions are very powerful and their influence on the Russian and global economy should not be downplayed," Nabiullina said. As the West shuns Russia and Moscow seeks to develop trading routes, potential partners are afraid of secondary sanctions, Nabiullina said. Reporting by Elena Fabrichnaya and Alexander Marrow; Editing by Ana Nicolaci da CostaOur Standards: The Thomson Reuters Trust Principles.

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