SOVEREIGN ECONOMY: TOP EVENTS OF THE WEEK
In 2023, the customs reduced its contributions to the budget by 35.1%. Russia's Federal Customs Service (FCS) has transferred 1.288 trillion rubles to the Russian budget in the first quarter of 2023. Revenues have decreased by 35.1%, compared to the same period in 2022, when the amount was 1.983 trillion rubles.
Russian enterprises, previously specializing in assembling premium car brands such as BMW and Mercedes, are switching to Chinese technology now. Kaliningrad's "Avtotor", which previously assembled BMW vehicles, began to draw up cars from Chinese brands Kaiyi, BAIC, and SWM. The Mercedes plant near Moscow has been sold to the Russian dealer group "Avtodom" and will switch to producing Chinese cars. Partners responsible for loading the plant are not publicly named. However, the governor of the Moscow region, Andrey Vorobyov, stated that they are selecting a Chinese partner.
OPEC predicts a decrease in oil production in Russia by 0.75 million barrels per day (b/d) to an average of 10.28 million b/d in 2023. At the same time, the decline in Russia is compensated by growth in other non-cartel states, primarily the US. The organization's monthly report noted that the expected drop in Russia already takes into account recently announced additional voluntary adjustments to production until the end of 2023.
The heads of the G7 Foreign Ministries confirmed their intention to tighten sanctions against Russia and support Ukraine. Participants in the meeting in Karuizawa, Japan, have agreed to strengthen their coordination in order to prevent attempts to evade sanctions and the supply of weapons to Russia by third parties. They discussed it during a ministerial session devoted to Ukraine.
Five nuclear-armed states have allied to exclude Russia from the global nuclear fuel market. The US, Canada, the UK, France, and Japan have allied to push Russia out of the international nuclear energy market. These countries will use the resources and capabilities of each country's civil nuclear energy sectors to dismantle Russia's control over the supply chain.