According to preliminary estimations, Russia's gross domestic productsurged by 4.1 percent in the second quarter of 2002, compared to thecorresponding period of last year, and amounted to 2.254 trillion rubles($71.28bn) in market prices, the State Statistics Committee reported. Theproduction of goods added 3.7 percent in the second three months of thisyear. Industrial output increased by 3.9 percent, agricultural productionwent up by 3.2 percent, construction jumped by 3 percent. The volume ofprovided services rose by 4.5 percent, including market services by 5percent and non-market services by 2.2 percent.As it was reported earlier, the growth in Russia's gross domestic productwas 3.7 percent in the period from January to March 2002. According toforecasts of the Economy Ministry, the country's GDP is expected to be 3.9percent this year..
The US is going to ban exports of Iranian oil to the world market from November 5 of this year. In turn, Iran threatens to block the passage of oil tankers of the Gulf countries through the Strait of Hormuz
China has allocated $20 billion to restore economies of the Arab states. In addition, China and the Arab countries will create an inter-bank association worth three billion dollars