RUSSIA

Russia is Hong Kong’s largest trade partner in Central and Eastern Europe. To stimulate investment with an aim to diversify its economy, the Russian government is providing a wide array of incentives for investors developing new products, technology in the energy efficiency, nuclear engineering, space technology, medicine and IT industries. However in practice, the Russian government imposes some restrictions on trade flows and limits on foreign direct investment in certain sectors. More

The U.S. State Department has announced the impending adoption of additional sanctions on Russia under the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991 following a determination that the Russian government has used chemical or biological weapons against international law or against their own nationals. The U.S. will consider a second tranche of sanctions if Russia does not meet a series of criteria within 90 days. More

The Russian economy has been undergoing a wave of diversification over the past decade to reduce its dependency on oil and gas. The government has tried to ease the investment climate via infrastructure projects and generous investment incentives. Most of these projects are complementary to those under the scope of the Belt and Road Initiative (BRI), therefore offering a whole new world of opportunity to Hong Kong investors and professional service providers. More