8th May 2014

Economic Policy: Russia to fight EU-US sanctions with Chinese money

Russia decided to lift unofficial limits for Chinese investment as Kremlin tries to fight off impact of economic sanctions from the U.S. and EU. However, limits would be installed around significant gold, platinum-group metals, diamond mining and high-technology projects. Russian government will also look at how to bar large settlements of Chinese citizens on Russian territory to avoid ethnic tensions. At least two government discussions are scheduled this month to set guidelines for how Chinese investors will be allowed to work in Russia. So far, Russia invited China to join the Elga coal development project. Further, Chinese cooperation on the Sakhalin-3 oil and gas project is under consideration and China might help Russia to build a bridge across the Strait of Kerch to annexed Crimea.

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Members of the American Chamber of Commerce in the Czech Republic