News Snapshot:
[BRICS summit] . The acronym “BRICS” refers to an informal grouping of the five developing economies. According to Putin, trade between Russia and the BRICS countries increased by 38% and amounted to $45 billion in the first three months of the year. “Contacts between Russian business circles and the business community of the BRICS countries have intensified,” Putin said. For example, negotiations are underway to open an Indian supermarket chain in Russia [and to] Increasing the share of Chinese cars, equipment and appliances in our market.” [to a record level in May] which overthrew Saudi Arabia as the country’s largest...
