21:47 - 19.08.2026

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August 19, Fineko/abc.az. Russian Deputy Prime Minister Alexander Novak announced that "friendly countries" now account for 84% of Russia's total foreign trade turnover.

Speaking at an economic meeting chaired by President Vladimir Putin, Novak highlighted the strategic pivot toward non-Western markets.

He added that local currencies now settle 89% of Russia's external trade payments, with the Russian ruble alone accounting for 56%. Novak outlined a structural transformation plan designed to steer the Russian economy toward a sustainable growth model through targeted investments, labor market shifts, and technological development.