Boris Titov Headed the Russia-Cuba Business Council

Boris Titov, Presidential Commissioner for the Protection of Entrepreneurs’ Rights, was elected Chairman of the Russia-Cuba Business Council, which operates as part of the Russian Chamber of Commerce and Industry. The members of the council made the corresponding decision today, January 11, informs press office advice.

According to Mr. Titov, among the topical areas of bilateral cooperation between Russia and Cuba are projects in the field of energy, transport, medicine, as well as the food industry and tourism. At the same time, he noted that the main task of the business council will be to activate the potential of trade and economic relations with Cuba, including the promotion of the interests of domestic business in the markets of this country.

In addition, Boris Titov stressed that, taking into account the sanctions that have been imposed on both Russia and Cuba, the countries will have to develop new mechanisms for mutual settlements that will mitigate the effect of restrictions.

“We are considering options for both ruble settlements, and cryptocurrencies, and clearing schemes. I hope that within the framework of the business council, new initiatives will appear and be implemented that will be useful both for Russia and Cuba,” the Ombudsman specified (quoted from “Interfax”).

Powers of Boris Titov as a business ombudsman expired in June 2022, he served the maximum two terms allowed. In June, Vedomosti, citing sources reportedthat his contract will be extended until 2023.

In September, Boris Titov said that there were many candidates for this position, some of them were rejected for various reasons. On September 15, it became known that business representatives turned to the presidential administration with a request to appoint Elina Sidorenko, head of the ZaBusiness.RF platform, to the post of business ombudsman. October 28, head of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin warned about the risk of abolishing the position of business ombudsman due to the long absence of the candidate.

More details – in the material “Kommersant” “The business ombudsman is expected to restart”.

Milena Kostereva