E. S. BIRYUKOV

Candidate of Economic Sciences, MGIMO University, Russian Foreign Ministry

GCC Keywords:, Russia, foreign economic cooperation

The countries of the Gulf Cooperation Council (GCC) - Saudi Arabia, the United Arab Emirates, Kuwait, Oman, Qatar, and Bahrain-are important for the global economy. Since the second half of the 20th century, the region's place in the world economy system has been determined by the supply of energy and raw materials resources - these countries account for about 40% of the world's proven oil reserves and more than 20% of gas reserves.

Over the past two decades, the GCC countries have been modernizing their economies to diversify their economic structure through the development of services and non-primary industries; investment flows are being reoriented to national economies, private sector development is being stimulated, foreign technologies are being attracted, and efforts are being made to train national personnel.

Although the stable economic development of these countries continues to depend on high oil prices on the world market, which is confirmed by the share of raw material revenues in total export revenues: 94% in Kuwait, 80% in Saudi Arabia, and only in the United Arab Emirates and Bahrain-less than half of export revenues: 36 and 26%, Accordingly, ¹, but the engines of GDP growth in the Gulf countries over the past decade are processing industries and the service sector, which are significantly ahead of the extractive industries in terms of growth rates. The share of non-primary industries in GDP, in contrast to exports, in the region's countries already exceeds 50% (with the exception of Saudi Arabia and Qatar).

With a population of 44 million people (including foreign labor)², the total GDP of the "Arabian six" in 2010. It amounted to $1.042 trillion, or 1.7% of global GDP.³ In the context of high oil prices on the world market, the GCC countries annually receive a significant inflow of petrodollars from foreign trade - its surplus in 2011 alone was about $400 billion. (exports - $973 billion, imports - $574 billion ⁴), and in 2000 - 2011 -$2 trillion (exports - $5.7 trillion, imports - $3.7 trillion ⁵).

Currently, Arab monarchies are striving to take the place of a major financial center in the international division of labor, and not just an energy exporter. Government entities, companies and individuals in these countries own financial assets that, according to some estimates, amount to between $2.5 and $ 4 trillion, ⁶ including $ 1.8 trillion in sovereign wealth funds.⁷ The volume of foreign direct investment (FDI) is increasing - in 2008-2010, the annual import of FDI to Saudi Arabia alone amounted to $28-38 billion. per year (more than 2.5% of global investment), with FDI exports amounting to $2-4 billion. in year ⁸. Major investors in Saudi Arabia (descending order) - Kuwait, USA, France, China, Germany, Japan, Bahrain ⁹.

The region ranks 1st in the world in terms of project financing, largely due to the reorientation of its own funds. The volume of projects implemented - primarily at the expense of the budget or state-owned companies, but also investors from other countries in the region, developed countries, and China-amounts to $2.2 trillion, of which oil, gas, and petrochemicals account for $690 billion; electricity - $300 billion, part of which will be used to create a unified energy system. GCC energy systems ¹⁰; real estate - $900 billion; telecommunications and information technology sectors-about $180 billion ¹¹. This is a large-scale market for foreign economic orders. Industrial exhibitions, fairs, salons and expositions are constantly held here.

This activity explains the high interest of the countries of the West, East and South-East Asia in developing cooperation with the GCC countries.

RUSSIA - GCC: FOREIGN TRADE

Against this background, Russia's cooperation with the GCC countries is at a low level. The trade turnover in 2012 did not exceed $3 billion, which is about 1% of the total volume of Russia's foreign trade (for comparison, the volume of foreign trade with five Arab countries of North Africa (Algeria, Egypt, Libya, Morocco, Tunisia) is $9 billion) ^.12 Western countries, on the contrary, pay increased attention to the GCC region, although it is not their key foreign economic partner.

Table

Volume of Russia's foreign trade with the GCC countries, 2000-2012 ($ mln)

Data for 2000-2008-see: Shkvarya L. V. Foreign trade of Russia with the countries of the Persian Gulf / / MEiMO. 2010, N 10; data for 2009-2012 - www.customs.ru

The reasons for the low level of foreign trade cooperation between Russia and the GCC countries are, firstly, similar foreign economic specialization, and secondly, some inertia. ¹³ In Soviet times, foreign economic relations with the sub-region were virtually nonexistent, although in the 1980s the trade turnover between the USSR and Arab countries reached almost $11 billion annually.¹⁴ The period of the 1990s was characterized, in general, by a decrease in the activity of our country in foreign markets.

It should be noted that the similarity of the structure of the economy, which many experts see as an obstacle to the development of foreign economic cooperation, can also become an "opportunity" - it is in the areas of specialization that Russia and the GCC countries have the competencies that allow them to develop fruitful trade and investment cooperation.

The table shows the dynamics of Russia's foreign trade with the Gulf countries. The almost zero indicator of the volume of cooperation with some of them in the early 2000s allows one of the Russian researchers of this region, L. V. Shkvara, to use a successful term, in our opinion, "not covered countries" ¹⁵. She also notes that trade "develops unevenly and often depends on one-time deliveries (contracts)" ¹⁶. At the same time, an important trend is the steady growth of bilateral trade, in particular, between Russia and the UAE.

Currently, about 80% of the foreign trade turnover with the Persian Gulf sub-region is accounted for by Russian exports, mainly non-raw materials. The structure of Russia's foreign trade is heterogeneous. A significant share of Russia's exports is accounted for by machine-building products; then (by volume) - metals and products made from them; agricultural products and precious metals; pulp and paper products and wood ¹⁷.

Imports from the GCC countries are significantly less than Russian exports, and for some countries the figure has fluctuated, on average, in the range of $1 - 4 million per year over the past ten years. The structure of imports from the UAE is food and agricultural raw materials (25% of imports), machinery, equipment and vehicles (more than 20%), textiles and products made from it (more than 20%). The main import items from Saudi Arabia are chemical products, food products and agricultural raw materials. Chemical products dominate Qatar's exports - 99.9%, while imports from Oman are almost 100% represented by ores and chromium concentrates.¹⁸

Nevertheless, in recent years, Russia and the GCC countries have shown high interest in increasing economic cooperation. First of all, a considerable number of implemented joint projects in a wide range of industries indicate this. This is strategically important for both sides, as both Russia and the" Arab Six " are increasingly involved in trade and investment international economic relations.

The most promising ots-

They covered the financial, military and technical spheres, oil and gas exploration and production, tourism, food supplies, real estate investment, construction, infrastructure development, as well as port development, nuclear power plant construction, metallurgy, diamonds, aircraft construction.

At the same time, there is a significant potential for enhancing cooperation in a number of other sectors of the economy.

MAIN AREAS OF COOPERATION

Financial sphere. In general, at the interstate level, the attraction of capital from the GCC countries began in 1991, when the USSR took loans from the GCC countries in the amount of about $2 billion ¹⁹. Non-fulfillment of loan agreements has become one of the negative factors for the development of foreign economic relations. Partial repayment of the debt was carried out by one-time export deliveries of Russian products, and full payment of debts was made in 2006-2009.

The USSR took the largest loan from Kuwait in the amount of $1 billion ²⁰. Repayment was made in accordance with the interstate agreement of 2006 - the debt was repaid in monetary terms, and interest was paid by deliveries of military-industrial complex products. Saudi Arabia provided a loan of $250 million, which was repaid by Russia within the framework of the London Club*. The debt owed to Oman ($200 million ²¹) was repaid in 2009.

Part of the $500 million loan. According to the Ministry of Finance of the Russian Federation, the United Arab Emirates ' funds were allocated for R & D, including the development of the Pantsir ²² air defense system, but the main amount was allocated to the country's budget. In 1994, the parties agreed that the debt would be repaid through deliveries of Russian engineering products, and the Emirati side co-financed these deliveries by paying an additional $400 million.²³ The debt and interest were finally paid in 2007.

The settlement of the state debt problem has opened up new opportunities for cooperation in the investment sphere.

The cooperation of the Russian Direct Investment Fund (RDIF)should be noted and the Kuwait Sovereign Investment Fund (Kuwait Investment Agency - IAC), which has already invested $500 million. to RDIF projects ²⁴. The IAC Director is a member of the RDIF's Expert Council. In June 2013, at the St. Petersburg Economic Forum, RDIF and Arab investors announced an even more ambitious project : together with the Mubadala Sovereign Wealth Fund (Abu Dhabi), a $2 billion investment fund was created on a parity basis and funds will be channeled into the Russian economy.²⁵

In 2007, during Vladimir Putin's visit to Saudi Arabia, Vnesheconombank (VEB) and the Saudi Development Fund signed a Memorandum of Understanding and cooperation in the development of industrial exports.

Russian VTB Bank and Gazprombank also have their own interests in the region, in particular, in raising capital.

VTB Bank cooperates with the largest financial institutions of the GCC countries: in 2009, a memorandum of understanding was signed with the Liquidity Management House company (a branch of the Islamic bank Kuwait Finance House); in 2010, a memorandum of understanding was signed with the Bahraini banking group Al Baraka; since 2009, the bank's representative office in the United Arab Emirates (Dubai) has been operating. VTB reached an agreement to sell $2.5 billion worth of shares during the privatization process in 2013. a consortium of investors that includes the Qatar Sovereign Wealth Fund ²⁶.

VTB Bank allows its clients to invest in the Saudi Arabian stock market, where foreign investors are not allowed to invest directly. A subsidiary of VTB Capital has issued dollar-denominated equity notes linked to the shares of this stock market. These notes are backed by basic shares and thus allow you to invest funds without taking on the credit risk of the program's host bank.

In 2010, Russia's Gazprombank reached an agreement with a major investor, the Qatar Investment Authority (QIA), to invest $150 million each in the purchase of commercial real estate in Moscow. In total, the Qataris announced their intention to invest $500 million in Russian real estate ²⁷.

In November 2010, the Mubadala sovereign investment fund transferred $100 million to the Russian company Verno Capital for investments in the Russian stock market28.

On the Gulf side, the following banks have experience working with Russian counterparties: Emirates NBD, Mashreq-bank, National Bank of Abu Dhabi, Abu Dhabi Commercial Bank, The Arab Investment Company, Bank Muscat, Doha Bank, TAIB, Arab Bank, First Gulf Bank, Arab Banking Corporation, NBB, GIB, etc.²⁹ A representative office of Arab Banking Corporation (Bahrain) has been operating in Moscow since 2010.

Military-technical cooperation, aviation, mechanical engineering, space. Russia supplies military equipment to the region. According to the results of 2012 - a record year for Russia in terms of arms supplies to the world market ($15.2 billion, an increase of 11% compared to the previous record year) - the Middle East and North Africa (23% of the total volume) were in second place after the Asia-Pacific region. In 2011, a multi-million dollar contract was signed for the supply of Kalashnikov assault rifles with AK-103 grenade launchers and ³⁰ rounds of ammunition to Bahrain. Also in 2011 Russia and the United Arab Emirates have been negotiating the modernization of more than 300 infantry fighting vehicles delivered earlier. In 2012, Oman was added to Rosoboronexport's order system.

* The London Club (officially known as the "Advisory Committee of Commercial Banks") is an association of about 600 commercial lending banks created to resolve issues related to the repayment of loans by foreign borrowers (author's note).

In the field of civil aviation, the countries of the region are interested in Russian Sukhoi Superjet aircraft. In 2012, Russian Deputy Prime Minister Viktor Zubkov, after talks in Bahrain, made a statement that this country could buy a batch of aircraft, and in total, within 15-20 years, Russia could sell about 60 Sukhoi Superjet 100³¹. However, no contracts have been signed yet.

Mechanical engineering. The main items of Russian exports to Kuwait are KAMAZ, Lada, Niva vehicles and their spare parts, truck cranes, tires, pumping and compressor equipment, computer equipment, and electric power equipment. In 2005, Qatar purchased a batch of KAMAZ trucks worth $50 million, and also buys VAZ ³² products. This is especially important in view of KAMAZ's strategy until 2020, which provides for increasing the share of exports in sales and organizing assembly plants abroad. Currently, the concern's cars are assembled in Kazakhstan, Vietnam, India, and Pakistan ³³.

Space. During the 2000s, Russia and the GCC countries have been cooperating in the field of space. Since 2000, 14 Saudi communications and remote sensing satellites have been launched into space by Russian carriers. Roscosmos and the Russian Foreign Ministry are working on forming a legal framework with Saudi Arabia, in particular, on draft agreements: on cooperation in the field of research and use of outer space for peaceful purposes, on the development and joint use of ^the GLONASS satellite system34. In 2009, the space company Kosmotras launched the first Emirati remote sensing satellite, Dubai-sat-1, from the Baikonur cosmodrome. And the Federal State Unitary Enterprise Khrunichev State Research and Development Center, part of Rosoboronexport, launched the Emirati Yasat-1B communications spacecraft in 2012.

Oil and gas industry and other resources. Investment in mining in the Middle East. Russia's LUKOIL is active in this area. In 2004, the company started operations in Saudi Arabia after winning a tender for the exploration and development of deposits in the Rub al-Khali desert. The joint venture LUKOIL Saudi Arabia Energy Ltd. (LUKSAR) was created, where 80% belongs to LUKOIL Overseas, and 20% - to the state oil company Saudi Aramco. The company has discovered two fields-Tukhman and Mushaib with significant gas reserves.³⁵ Field development will be profitable if the purchase price for natural gas is significantly increased (set by the state), and negotiations are underway with Saudi Arabia on this issue. LUKOIL's total investment in the project was more than $500 million ³⁶.

In the second half of the 2000s, Russia and Qatar worked very closely to create and develop the Gas OPEC, a Forum of Gas Exporting Countries. A permanent secretariat of the Forum was formed, and the task of transforming it into an international organization was set. In the European market, Qatari gas competes with Russian gas, and Qatar is seeking to increase its market share. However, the creation of a gas cartel, which could be very beneficial to exporting countries, is postponed indefinitely.

Gazprom Marketing&Trading Singapore, a part of Gazprom, has signed a contract for the purchase of liquefied petroleum gas (LPG) with Qatar International Petroleum Marketing (Tasweeq)³⁷. In 2010, Gazprom EP International, a subsidiary of the company, received an invitation from the Qatari side to participate in a tender for oil and gas operations. Gazprom supplies liquefied natural gas (LNG) to Kuwait from Russia's only LNG production plant (built as part of the Sakhalin-2 project).

In 2012, Russia's Bashneft exported the bulk of its oil through the Star Oil dealer registered in the offshore zone in Sharjah (UAE), with sales totaling about $2.7 billion. ³⁸ In 2011, Bahrain (the only GCC member state that is a net importer of gas) initiated negotiations on gas purchases in Russia. However, to a greater extent, they were conducted in order to ensure a reduction in the purchase price from neighboring Iran and Qatar.

In 2009 Gazpromgeo-fizika LLC and the Kuwaiti company Noor Financial Investment announced the signing of an agreement on the establishment of two companies to conduct exploration of hydrocarbon deposits in Kuwait and to enter the markets of neighboring countries-Syria, Lebanon, and Iraq.

Service cooperation in the field of oil and gas production is also promising. Many Russian companies, including medium-sized businesses, are seeking to enter the GCC market. By order of Petroleum Development of Oman-the national oil company of Oman-Tatarskaya komaniya LLC Tatgeotech is preparing analytical materials to increase the efficiency of oil reservoirs. Neftegazkomplektservice CJSC (Moscow region) is engaged in pipeline magnetoscopy (contractors: Oman Petroleum Development Oman, Emirati Abu Dhabi Marine Operating Company, Caspian Pipeline Consortium (CPC), etc.). Borets LLC, a Moscow-based company, provides oil well maintenance and equipment repair services.

Geological exploration and production in Russia. In 2011-2012, the Russian press repeatedly reported on Qatar's interest in investing in the project of the gas concern NOVATEK (the second largest gas producer in Russia) to produce LNG in Yamal. However, so far the negotiations have not been successful.

In 2011, the Ural Industrial - Ural Polar Corporation and the Qatar Holding State Investment Fund signed an agreement on Qatari investments worth $500 million in geological exploration, exploration and development of subsurface areas (brown coal, iron, copper-molybdenum and chromium ores). Yamalo-Nenets Autonomous Okrug and Sverdlovsk Region ³⁹.

Oman holds a 7% stake in the international joint - stock company-the Caspian Pipeline Consortium (CPC), which manages the pipeline from Kazakhstan's fields to Novorossiysk (Russia's share is 24%).

Metallurgy. In 2012, TMK acquired a 55% stake in the Gulf International Pipe Industry⁴⁰, while Metalloinvest, a mining and metallurgical holding, built the Hamriyah Steel plant in the United Arab Emirates (1 million tons of rebar per year), with an investment of $150 million. ⁴¹ In 2011, the Company's total investment in the steel industry was $ 100 million. Ural Mining and Metallurgical Company (UMMC) has signed a contract for the supply of $200 million worth of copper wire rod to Qatar.

Infrastructure (ports, railway construction, nuclear power). GCC companies working in the field of port infrastructure development are eager to enter the Russian market.

In 2012, the project to build the Pechenga international commercial sea port 60 km from Murmansk was "unfrozen" (suspended in the 1990s). Among the investors with whom negotiations are underway is Oman.

Ust-Luga and the port operator Gulftainer from the United Arab Emirates signed an agreement on the development of the Ust-Luga port complex. Under the agreement, Gulftainer plans to invest at least $192 million in the Yug-2 automobile terminal.⁴³

Russian Railways opened two foreign branches in Qatar (Doha) and the United Arab Emirates (Abu Dhabi)in 2012⁴⁴. In addition, Zarubezhstroy-Technologiya, a subsidiary of Russian Railways, plans to participate in a tender for the construction of a light metro in Kuwait, the contract value may reach $3-4 billion. and in the tender for the construction of a section of railway in Abu Dhabi for $2 billion ⁴⁵.

Stroytransgaz has implemented a number of infrastructure transport projects. In 2005 At the request of the Riyadh Chamber of Commerce and Industry (CCI), it developed a concept for creating a national gas transportation and distribution network in Saudi Arabia and carried out design and survey work on the gasification of Riyadh. In 2009, the company completed work on two contracts for the construction of the 217 km long Sheiba-Abkeyk oil pipeline and 900 km long water pipeline. In addition, the company is negotiating with the Kingdom's authorities to participate in the construction of the 640 km long Sheiba-Jumeiyah gas pipeline and the 400 km long water pipeline. ⁴⁶ Since 2004, the company has had a representative office in Khobar (Saudi Arabia). The company also successfully entered the Emirati market in 2008-2010. Construction of the Tawila-Fujairah gas pipeline (244 km long and worth $417 million) was completed. Stroytransgaz is exploring opportunities to enter the promising Qatari market, constantly monitoring oil and gas and energy projects in this country.

Rosatom Corporation has been awarded a contract for the supply of uranium fuel by its subsidiaries Techsnabexport and UraniumOne for the first nuclear power plant in the UAE ⁴⁷. Even more interesting are Saudi Arabia's plans to build 16 nuclear reactors by 2030, with a total cost of $100 billion.

Real estate and construction. One of the most promising areas of cooperation is attracting Arab investment in the real estate market, both residential and commercial. The GCC countries are among the world leaders in high-rise construction. Dubai has built the world's tallest building, the Burj Khalifa (more than 800 meters high, 163 floors), and Jeddah (Saudi Arabia) will build the Mile Tower, which will exceed 1 thousand meters in height.

In September 2012, Dubai-based Arabtec Holding signed a contract worth 95 million euros with Gazprom for the construction of the first phase of a 463-meter skyscraper in St. Petersburg. In May 2010, VTB Capital acquired the Capital Plaza business center (49,000 square meters) in Moscow from Capital Group in the interests of the State Reserve Fund of the Sultanate of Oman (its share in the project is 80%). The Government of Tatarstan and Dubai Pearl (UAE) are negotiating the construction of an international exhibition and trade center in Kazan ⁴⁸. The Mountain Carousel sports and tourism complex, which will host the Olympic Media Village during the 2014 Sochi Olympics, is 3% owned by the state investment fund ADIC from the United Arab Emirates.

Food supplies. Russia is one of the largest grain suppliers to Arab countries, in particular, to Egypt and Saudi Arabia. The Government of the latter decided to reduce national wheat production from 2008 and completely abandon its cultivation on its territory from 2016 due to low costs for grain imports. In this regard, we can expect to expand cooperation in the coming years.

In December 2012, Siberian holding SAKHO (land area 400,000 ha) and investment group Najd Investments (Saudi Arabia) established a joint venture. Such domestic organizations as JSC Rosselkhozbank, LLC Rosinteragroservice, Saratov Grain Union, and LLC ADM show interest in attracting investments from the GCC countries in Russian agriculture. In particular, negotiations on this issue were conducted with the Qatari "Hassad Food".

Tourism. Tourism is a promising area of bilateral cooperation. The UAE is on the 10th place among the most popular countries among Russian tourists. In 2011, the UAE was visited by 395 thousand people - since 2007, the flow of tourists has almost doubled (207 thousand) ⁴⁹. Further growth of tourist flow from Russia to the UAE and other countries of the region is predicted (Oman, Bahrain, Qatar are actively developing tourism).

On the other hand, there are also great prospects for attracting tourists from the GCC countries to Russia, including during the summer period,

when a part of the population wants to leave the GCC for Europe because of the heat.

Based on the presented data, it is obvious that Russia's foreign economic cooperation with the GCC countries is developing quite actively. At the same time, the growth of foreign trade turnover continues to be insignificant.

Cooperation at the international level between the Common Economic Space (CES) and the GCC would be promising. Taking into account the positive balance in bilateral trade, the non-resource structure of exports, and the global trend towards the development of interregional integration associations, it would be advantageous for Russia to conclude a free trade area agreement (FTA) between the CES and the GCC. It is worth noting that negotiations on the GCC-EU FTA are currently underway.

* * *

The economies of the GCC countries show very high dynamics of development. Perhaps only its low population size prevents the Persian Gulf sub-region from claiming an informal presence in groups of leading emerging market countries, such as the BRICS.

In March 2013, Russia adopted and approved the state program "Development of Foreign Economic Activity". This program also mentions the Arab monarchies of the Gulf - " Development of direct trade and economic cooperation with regional economic organizations/associations in which the Russian Federation does not participate (ASEAN, MERCOSUR, GCC, etc.)"50. How effective the implementation of the program will be will be judged by the results of the year based on customs statistics.

¹ International Trade Statistics 2012. WTO, Geneva, 2012, p. 80.

² World Development Indicators 2012. World Bank, Washington, 2013, p. 20.

³ Data for Saudi Arabia, the United Arab Emirates, Oman, Bahrain and world GDP in: World Development Indicators 2012.., p. 20; data for Qatar and Kuwait: IMF Regional Economic Outlook. International Monetary Fund, Washington, November 2012, p. 89; developing countries ' GDP data: IMF World Economic Outlook Database. International Monetary Fund. Washington, October 2012; World Development Indicators 2012...

⁴ IMF Regional Economic Outlook.., p. 89.

⁵ Author's calculations based on World Development Indicators 2012...

^{Aydrus I. A. -3.6} Economic cooperation between Russia and the Arab world: factors, problems, prospects // Integration of Russia into the global economy. 2nd ed. Moscow, RUDN University, 2009, p. 377; Setser V., Ziemba R. Understanding the New Financial Superpower. The Management of GCC Official Foreign Assets // RGE Monitor. December 2007.

⁷ Sovereign Wealth Fund Institute - www.swfinstitute.org

⁸ World Investment Report 2012. UNCTAD, Geneva, 2012.

⁹ Investment Country Profiles. Saudi Arabia. February 2013. UNCTAD, Geneva, 2013. P. 7.

^{10 UES of the Persian} Gulf countries / / Asia and Africa today. 2013, No. 2, p. 35.

^{Trukhin A.} 11 Statistics of prosperity // Expert Online, 04.09.2012 - www.expert.ru

¹² Author's calculations based on the data of the Federal Customs Service of the Russian Federation.

¹³ Ibid.

^{Aidrus IA. - Z.} 14 Decree. soch., p. 387.

^{Shkvarya L. V.} 15 Vneshnaya torgovaya Rossii s stranami Persizskogo zalivogo [Foreign trade of Russia with the countries of the Persian Gulf]. 2010, p. 80.

¹⁶ Ibid.

¹⁷ Ibid.; website of the Russian Foreign Ministry - www.mid.ru

¹⁸ Official references of the Russian Foreign Ministry on Bilateral relations - www.mid.ru, section - "Russia in the system of international relations", part - "Russia - countries of the world".

¹⁹ Author's calculations based on the data of the Ministry of Finance of Russia.

²⁰ Website of the Russian Ministry of Finance - http://www.minfin.ru/ru/press/ speech/index. php?pg4-96 & id4=5190; Kommersant. 29.05.2006.

^{Vachnadze G. N.} 21 Asia and Russia: Ekonomicheskie svyazi v 2000 godu [Economic Relations in 2000]. Moscow, Business Press Agency, p. 351.

²² Russia will pay $580 million. as part of the repayment of the debt of the former USSR to the UAE - http://www.minfin.ru/ru/press/ speech/index. php?type4= l &pg4 - 47&id4 - 744

^{Storchak S.} 23 Russia in September-October will transfer the UAE over $560 million to repay the debt of the former USSR / / website of the Ministry of Finance of Russia -http://www.minfin.ru/ru/press/speech/index.php?pg4=71 &id4-744

²⁴ http://rdif.ru/fullNews/222/

²⁵ http://rdif.ru/fullNews/406/

²⁶ Sunduk Qatar al-siyadi yashtari uskhum sani Akbari banks rusiy (Qatar's Sovereign Wealth Fund buys shares of the second largest Russian bank) / / Website of the Zawiyya News Agency (Dubai). 29.04.2013 - http://www.zawya.com

²⁷ Kommersant. 06.05.2010.

²⁸ Mubadala Sovereign Wealth Fund Website - http://www.mubadala. com/ar/what-we-do/investments/verno-capital; сайт компании Verno Capital - http://www.verno-capital.com/public/pdf/Verno%20Capital_ Mubadala%20Investment_20101130.pdf

^{Shkvarya L. V.} 29 Russia-Gulf countries: investment cooperation / / Asia and Africa today. 2011, N 5, p. 21.

³⁰ RIA Novosti website - http://ria.ru/interview/20100130/ 206953893.html

³¹ Website of JSC "Company "Sukhoi" - http://sukhoi.org/news/smi/ arch / index. php? id-4651; Kommersant. 19.01.2012.

³² Russian-Qatari relations-background information. Website of the Russian Foreign Ministry, 10.10.2011.

³³ KAMAZ website - http://www.kamaz.net/ru/company/ about/

³⁴ http://www.rfemb-ksa.mid.ru/torgov_econ.html

³⁵ http://www.oilcapital.ru/company/199732.html

³⁶ LUKOIL Overseas website - http://luk.oil-overseas.ru/projects/saudovskaya-araviya/

³⁷ Сайт Gazprom Marketing & Trade, 11.12.2012 - http://www.gaz-prom-mt.com/WhatWeSay/News/Pages/Signing-of-Tasweeq-deal.aspx

³⁸ RIA Novosti website - http://ria.ru/company/20111230/ 529915l04.html

³⁹ Russian-Qatari relations...

⁴⁰ TMK official Website - http://www.tmk-group.ru/ structure 1. php?flr_id=-429

⁴¹ Website of Metalloinvest Management Company LLC - http://metalloinvest.com/ press-center/2/1783/

⁴² Russian-Qatari relations...

⁴³ "Gulftainer" tutawwaru minaa "Ust-Luga" ar-Rusi bi-kul-fa milyar dirham ("Gulftainer" invests in the development of the Russian port "Ust-Luga" billion dirhams / / Al-emirat al-yaum (newspaper "Emirates today"). 19.09.2011 - http://www.emaratalyoum. com/business/local/2011 - 09 - 19 - 1.423754

⁴⁴ Clauses 158.10, 158.11 of the Charter of JSC "Russian Railways" - site data www.rzd.ru

⁴⁵ Russian Railways website - http://press.rzd.ru/smi/public/ru? STRUCTURE_ID=2 & layer_id=5050&id=265622; Vedomosti. 13.06. 2012.

⁴⁶ http://www.rfemb-ksa.mid.ru/spravka.html

⁴⁷ Data from the website of JSC Techsnabexport, 07.09.2012 -http://www.tenex.ru/wps/wcm/connect/tenex/site/press/media/d6f94 1004sa 1 e938aee4ef60560ed 14A

⁴⁸ ИНТЕРФАКС, 11.05.2011 - http://www.interfax-russia.ru/ Povolj ie/news.asp?id-230134&sec= 1679

^{Romanova T.} 49 Russian tourists preferred China to Egypt // Vedomosti. 06.03.2012.

⁵⁰ http://www.economy.gov.ru/minec/activity/sections/foreign economicactivity/doc20130322019?presentationtemplate=doc HTM LT emplatel0&presentationtemplateid-2dc988804eef256ead75ef33ff830e22 &WCM_Page.ResetAll-TRUE&CACHE=NONE&CONTENTCACH E-NONE&CONNECTORCACHE-NONE

Постоянный адрес данной публикации: