The purposes of the bank are aimed at creating new ties, new infrastructure, and new quality of life in shareholder countries.

It will be completely Russian-made, said Oleg Belozerov, head of the company.

A test version of Nau Engine can be presented in 2023 and the full-fledged start is planned in 2025.

Russian Deputy PM also noted high costs on delivery of products that have appeared as the transport element extended.

Retail prices have been stable thus far but there has been a rise in sales on the exchange, the regulator said.

Mikhail Mishustin believes that "engineering industry for the fuel and energy complex has a significant potential".

The Finance Ministry said earlier that it would allocate 40.4 bln rubles for sale of foreign currency from May 10, 2023 to June 6, 2023, with daily foreign currency sales equaling 2 bln rubles.

After the project reaches its full capacity, Russian pipeline gas supplies to China will increase by 10 bln cubic meters.

According to the Ministry of Finance, this is 33.1% of planned budget assignments.

Non-oil and gas revenues totaled $72.2 bln and increased by 5% year-on-year in the reporting period.