UAE, Russia to boost economic cooperation

07 Apr 2015

(MENAFN) The UAE and other GCC countries are set to boost economic cooperation with Russia, the country suffering from an agonized economy due to sanctions and shrinking oil revenue, Gulf News reported

The economic trade between Russia and the UAE stands at USD2 billion, with figure to increase in the upcoming months, according to a statement issued by the Chairman of the Russian Business Council.

“We have brought in new regulations to attract Islamic financial institutions from the Middle East and Asia as demand for financing grows in Russia,” the chairman added.

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