Energy News  
TRADE WARS
Russia counts China trade losses from coronavirus
by Staff Writers
Moscow (AFP) Feb 21, 2020

Russian exports to China have been hit hard by the new coronavirus, which curbed demand and the movement of people and goods, official figures showed Friday.

Exports to China fell by nearly 34 percent from January 1 to February 19, according to Russian customs service data sent to AFP.

Trade in grain, minerals, animal fats and vegetable oil and especially hydrocarbons have been affected, with exports shifting into lower gear as the Chinese economy slows.

Finance Minister Anton Siluanov told RBK daily Thursday that the fall in China-Russia trade amounted to one billion rubles per day ($15.5 million).

Russian imports from China have remained stable, but Beijing is exporting more electronics and less fresh produce, the customs figures showed.

This week, Russia's agricultural watchdog Rosselkhoznadzor banned imports of Chinese meat products such as sausages and offal.

Media in Russia's Far East reported that Chinese fruit and vegetables have vanished, and the price of remaining produce has risen sharply.

China is Russia's largest economic partner with trade amounting to $110 billion in 2019. Moscow aims to increase that figure to $200 billion by 2024.

Moscow on Thursday banned all Chinese citizens from crossing into Russia to prevent the spread of the COVID-19 virus.

Last year, 2.3 million Chinese citizens entered Russia including 1.5 million tourists.

The Association of Tour Operators of Russia has said the domestic tourism industry will lose at least 2.8 billion rubles in February and March and that the total could rise to 31.2 billion rubles if Chinese visitors stay away over the summer.

A fall in oil prices as China cuts back also threatens Russia, whose state budget is dependent on oil and gas. The price of Brent crude has dropped nearly $10 per barrel since the start of the year, when it was close to $70.


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
Foreign firms struggle to resume operations in virus-hit China
Beijing (AFP) Feb 18, 2020
Foreign firms are struggling to resume work in virus-hit China as they face disrupted supply chains, rising inventory and quarantine rules meant to contain the deadly epidemic, the EU chamber of commerce said Tuesday. With many pharmaceutical companies globally sourcing from China, pharmacies may also face a shortage of antibiotics and other drugs if the epidemic is not resolved soon, said Joerg Wuttke, president of the European Union Chamber of Commerce in China. Firms in China have seen a slow ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Utilis partners with SITE Technologies to provide next-generation total property assessment

Saudi Arabia shivers in worst cold spell since 2016

Space key to wetland conservation

ECOSTRESS mission sees plants 'waking up' from space

TRADE WARS
Third Lockheed Martin-Built GPS III satellite delivered to Cape Canaveral

Honeywell nets $3B+ deal for new Air Force navigation system sustainment

Google Maps marks 15-year milestone with new features

Space Force decommissions 26-year-old GPS satellite to make way for GPS 3 constellation

TRADE WARS
Hungary's Orban vows to plant 10 trees for every newborn

Satellite image data reveals rapid decline of China's intertidal wetlands

Hot climates to see more variability in tree leafing as temperatures rise

Forests bouncing back from beetles, but elk and deer slowing recovery

TRADE WARS
Catalyst recycles greenhouse gases into hydrogen gas, fuel, other chemicals

Protein-powered device generates electricity from moisture in the air

From petroleum to wood in the chemical industry: cost-efficient and more sustainable

Drilling a 3,000 meters deep well

TRADE WARS
Smartass Meters Make IOUs for California IOUs by Taking Solar Power But Not Metering It

Geronimo Energy and Basin Electric Power Cooperative Announce Power Purchase Agreement for 128 MW South Dakota Solar Project

Gantner contracted for largest Solar Power Plant in the Netherlands

Prodiel to install 500 MW at two photovoltaic plants in Spain for Solarcentury

TRADE WARS
Alphabet cuts cord on power-generating kite business

Iberdrola will build its next wind farm in Spain with the most powerful wind turbine

UK looks to offshore wind for green energy transition

Britain's green energy sector brightens: survey data

TRADE WARS
Protesters occupy disputed German coal mine

Protests in Germany as cabinet passes coal exit law

BlackRock coal divestment welcomed, scrutinised by insiders

Germany looks to step up coal exit timetable

TRADE WARS
Armed gang steals toilet rolls in panic-buying Hong Kong

Coronavirus casts shadow on China's big screen ambitions

China demotes top official in charge of Hong Kong

Death of whistleblower ignites calls for political reform in China









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.