Trade turnover between Russia and its partners in the Caspian region increased in January-July 2022 compared to the same period last year to $20.1 billion despite sanctions. This follows from the data of the Ministry of Economic Development of the Russian Federation, provided by the press service of the government.
"According to the results of seven months of this year, despite all sanctions and restrictions, Russia's trade turnover with partners in the Caspian region increased by 10.3% (to $20.1 billion) compared to the same period last year," the report reads.
The materials note that the total volume of Russian investments in Azerbaijan's economy at the beginning of 2022 was $6.3 bln, with $5 bln coming from the oil sector. More than 1,000 companies with Russian capital are working in various sectors of the economy of Azerbaijan.
Investments in oil sector of Iran's economy to date amounted to $4 bln. "Projects are implemented in the field of energy, modernization of a number of heat and power plants, cooperation in supply of various agricultural products, spare parts and equipment for agricultural machinery and transport, consumer goods and food industry products is developing", the report says.
Investments from Russia in the economy of Kazakhstan at the beginning of this year are estimated at $6 billion. About 12 thousand companies with Russian capital are working in sectors of the economy of Kazakhstan.
Companies with Russian capital are also working in different sectors of the economy of Turkmenistan.
GSV "Russia - Islamic world"
Photo: fabrikasimf/Freepik
Based on materials from TASS