3 August 2020
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London: 22:10

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883 days have passed since the Salisbury incident - no credible information or response from the British authorities                                                                                                                                                                                                                                                                                                                                                     875 days have passed since the death of Nikolay Glushkov on British soil - no credible information or response from the British authorities

AMBASSADOR'S ARTICLES

06.03.2017

The growing Russian economy is increasingly open for business (article by Ambassador Yakovenko for The Daily Telegraph, 6 March 2017)

Tough challenges, including weak global growth, low energy prices and Western sanctions have been used by the Russian Government as incentives to make difficult, but sound decisions to keep our economy in shape. Most of the problems have been overcome, and we have adapted to the new, tougher trade and economic environment, that some call deglobalisation.

While Russia’s GDP fell by 3.7pc in 2015, last year the contraction was insignificant (0.2pc), and we witnessed a transition to growth already in the third quarter of 2016. Now experts have to admit that the results surpass most predictions, and fundamentals of the Russian economy have strengthened. GDP is expected to grow between 1 and 2pc this year.

The Russian Government has been working hard to minimise negative external effects and to secure a structural transformation of the economy. A well-timed anti-crisis programme was launched and has proved successful. The Government is actively scaling down the dependence on commodities and implementing structural reforms. We have maintained macroeconomic stability, preserved and even enlarged our financial reserves. As of 1 January 2016, the reserves stood at around $370 bn, and now there are almost $400 bn.

Public debt is low. Obligations for external debt repayment will have decreased from $130 bn in 2015 to $80 bn by the end of 2017. The federal budget deficit remains at safe level and will be financed by loans, which should not exceed the ceiling of 17pc of GDP. That is much lower than in EU member states. Despite the difficulties, the Government is meeting all of its social obligations in full. The unemployment rate stays reasonable.

Russian financial authorities have been doing an important job in stabilising the markets and bringing inflation down. The inflation rate has steadily decreased and has a potential to meet the 4pc target by the end of this year. Foreign direct investment inflow increased from $6 bn in 2015 to more than $25 bn last year. At the same time, capital outflow decreased from $150 bn. in 2014 to $15.5 bn. in 2016. Industrial production growth rates are expected to rise from 0.4pc in 2016 to 1.1pc in 2017 and up to 2.1pc in 2019.

Over past two years the financial stability of Russian banking system was restored. The profits of the Russian banks grew five-fold over the year. The volume of bad debt saw no increase. The loan portfolio remained stable without marked decrease. The dollarisation of the Russian economy (deposits and loans in US dollars) has been brought to 24pc, which is much less than in other emerging markets (in some countries this indicator is 60 to70pc).

Overall, the Russian economy is on a trajectory of sustained growth in the coming months making most international economists revise upwards their forecasts. We believe that foreign direct investment will increase substantially. We welcome major foreign companies and hedge pensions funds, which have serious long term interests in investing in the Russian economy, bonds and stock markets. In early February a leading global Russian agrocompany PhosAgro, which makes phosphate-based fertilizer, successfully completed its SPO at the Moscow Exchange, selling 4,5pc of its share capital for 15 bn roubles (about $250m) in just one hour. It is one example among many indicative of how Russia is viewed by international business.

The Russian Government is committed to providing every help and support to companies starting or continuing their business in Russia. Rouble devaluation has made Russian assets very attractive for purchase. Real sector companies, including agriculture, car and other industries, will benefit from localising their production in Russia.

I am confident 2017 will dramatically improve prospects for the Russian economy, raising its attractiveness further for foreign investors, including those from the UK.




LATEST EVENTS

21.07.2020 - Ambassador Andrei Kelin's interview with Sky News, 21 July 2020

Q: Thank you Mr Ambassador for speaking to us today. My first question is have you seen the report today, have you read it, what do you think? A: Yes, of course, I’ve seen it and and I have read it this morning. My first impression is that the Shakespeare’s phrase is very much applicable to it: much ado about nothing. The report is called “Russia”. But if you put the name of any other country, it will be the same, because this report is not about Russia. It is about the relationship between different intelligence agencies inside the UK.


03.07.2020 - Open Skies Clouded by Sham and Ambiguity (by Ambassador Andrei Kelin)

Ambassador Andrei Kelin's article published on the website of Royal United Services Institute (RUSI) on 2 July 2020.


02.12.2019 - Ambassador Andrei Kelin's interview to Sputnik News Agency

On 27 November, 2019 Ambassador Andrei Kelin gave an interview to Sputnik News Agency during the V Russian-British Business Forum.


15.08.2019 - The liberal "end of history": what's next?

Following an interview with President Vladimir Putin published by the Financial Times a month ago, the issue of the future “liberal world order” in its idealistic version has been part of London’s political discussion agenda, with the emphasis being put on moral and political leadership in the present-day world.


09.07.2019 - What has happened to Western liberal idea? (by Ambassador Alexander Yakovenko)

In the recent interview with President Putin, the Financial Times seems to have launched a discussion on liberalism only at its own peril. Inadvertently, a real problem was touched upon, whose pressing nature is no longer denied by anyone in the West. The newspaper had to admit it in its Editorial of 29 June. Its authors claim that the threat to liberalism comes from within, including President Trump and his policies, Brexit and, certainly, the rise of “populist nationalism”. They refer to voters’ disillusionment with liberalism and loss of confidence in the economic system and trust in political elites. The latter are invited to redouble their efforts to take into consideration issues raised by voters and “to renew liberalism”.


09.08.2018 - Letter from Ambassador Alexander Yakovenko to the Guardian’s editor

In response to the Ambassador Beruchashvili’s letter, offering not so much a recollection of the August 2008 events in the Caucasus, but rather a misleading reiteration of the Georgian claims against Russia I have to refer to some of the universally recognized facts and consequences resulting from those tragic events.


24.07.2018 - Eastern Economic Forum: the East is bright (by Ambassador Alexander Yakovenko)

When talking about Russia’s Far East, you invariably remember its stunning natural beauty, abundance in natural resources and vast territories. But when one thinks of its investments prospects, you also invariably remember its harsh climate, low average population density and the lack of transport and other infrastructure. But now the situation is changing fundamentally. The region is undergoing a huge and qualitative revival. The development of the region has been declared one of the national priorities for Russia. In the last 5 years 18 advanced development zones and 5 free ports have been established in the Russian Far East. Long-term tax exemptions have been provided for large investment projects. Paperless e-visas for visitors of Vladivostok are available for citizens of 18 countries.


03.05.2018 - SALISBURY: A CLASSIFIED CASE (by Ambassador Alexander Yakovenko)

On 4 March 2018 two Russian citizens Sergei and Yulia Skripal were reportedly poisoned in Salisbury, Wiltshire with the toxic chemical named A-234 under the British classification. On 12 March Foreign Secretary Johnson summoned me to the Foreign and Commonwealth Office and said that Russia was “highly likely” responsible for the attack. He invited us to respond by the next day, whether this had been a direct act by the state or Russia had lost control over this nerve agent. The incident had international repercussions, including expulsion of 150 Russian diplomats from 28 countries, notwithstanding the fact that the charges were based on assumptions and unverifiable intelligence. The Western countries lost the same number of Moscow-based staff. Meanwhile, the British government provided no evidence either to the public, its allies or Russia. Subsequent events revealed that no proof of Russia’s involvement existed. On 1 May, National Security adviser Sir Mark Sedwill confirmed that (despite a number of previous leaks) no suspect had been identified, a statement that speaks for itself.


14.02.2018 - The international community needs a unified legal base to combat information crimes (by Ambassador Yakovenko for RT)

Amid the rapid advance in technologies we face a growing number of cyber-crimes: in 2016, these offences caused damage of $445 billion and by 2020, according to experts, this figure can reach up to $3 trillion, exceeding the overall income received from the Internet.


26.01.2018 - UNGA: Glorification of Nazism must stop (by Ambassador Yakovenko for RT)

In December the UN General Assembly (UNGA) adopted the traditional resolution on “Combating the glorification of Nazism, neo-Nazism and other practices that contribute to fuelling contemporary forms of racism, racial discrimination, xenophobia and related intolerance”. It was supported by an overwhelming majority of UN Member States: 133 states voted for this document, 57 became its co-sponsors, and only Ukraine and the United States voted against.



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