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SCO to Approve Plan Streamlining Export-Import Operations, Says Russian PM

Russian Prime Minister Mikhail Mishustin noted the opportunities for the Shanghai Cooperation Organization (SCO) to expand foreign economic activities and launch new projects. Russia partially lifted a diesel export ban, effective October 10, following agreements between Presidents Putin and Trump.

BRIC Team
By BRIC Team · BRIC.TV
Published Oct 20, 2026 · 2 min read · 1 views
SCO to Approve Plan Streamlining Export-Import Operations, Says Russian PM

Key Takeaways

  • •Russia lifts partial diesel export ban to stabilize energy supplies
  • •Global energy markets face challenges, potential economic slowdowns projected
  • •SCO to expand economic activities, streamline export-import operations
  • •Russian Navy conducts Arctic drills, showcasing military readiness

Russian Prime Minister Mikhail Mishustin emphasized the importance of the Shanghai Cooperation Organization (SCO) in expanding foreign economic activities and initiating new projects across various sectors. The SCO is expected to approve a plan aimed at streamlining export-import operations, which Mishustin believes will bolster economic resilience.

In the realm of energy, the Russian government has taken steps to adjust its policies. Following agreements between Presidents Vladimir Putin and Donald Trump, Russia partially lifted a diesel export ban, effective October 10. This move is part of a broader strategy to address market challenges.

Meanwhile, Russia's Energy Minister Alexander Novak indicated that the country is prepared to supply 300,000 tons of diesel to the global market this month, with potential exports increasing to 500,000 metric tons in November. Novak also mentioned ongoing discussions with Cuba regarding increased purchases of Russian oil, although financial arrangements remain a key consideration.

In other developments, the Russian media watchdog has urged news outlets to verify reports concerning the sanitary and epidemiological situation in the Irkutsk Region. This comes amid circulating false information, which the watchdog aims to counteract by ensuring accurate reporting.

On the international stage, tensions remain high as an oil supertanker struck a mine in the Strait of Hormuz, leading to an explosion. The incident underscores the vulnerabilities in global oil transportation routes and the potential for further disruptions.

In the Middle East, Israeli Prime Minister Benjamin Netanyahu has accused Hamas of plotting attacks on Israel ahead of upcoming elections. Netanyahu asserted that Israel has become the strongest country in the region, while its adversaries are weaker than before.

In the context of international diplomacy, US negotiators Steven Witkoff and Jared Kushner may visit Moscow in the coming weeks. The visit could focus on discussions related to the Ukrainian settlement, with hopes for a diplomatic breakthrough before the US midterm elections.

Back in Russia, the government is addressing domestic concerns, such as the resettlement program for areas under Ukrainian control in the Donetsk People's Republic (DPR). Authorities aim to help residents return to peaceful lives, assessing individual circumstances to provide necessary assistance.

In the aerospace sector, China successfully launched its 27th batch of SatNet communications satellites from the Wenchang Space Launch Site. The launch marks another milestone in China's expanding space capabilities.

Amidst these developments, the Russian Navy conducted Arctic drills, successfully striking a target with a cruise missile from a coastal defense system. This exercise is part of the Northern Fleet's planned training measures, demonstrating Russia's military readiness in the region.

#Business & Economy

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