The Russian Federation ofasts the Major Role in Russian Oil and Gas Industry
The National Association of State Bankruptcy Alternatives or the UFA has completed another big clean-up of its global bookkeeping operations. Ufa is a voluntary association of state banks, brokers, financial institutions and prepaid capital markets professionals that enjoy preferential access to Russian state resources and support. Its Russian counterpart is the Union of Russian Banks. At its foundation, Ufa was established to coordinate activities of all its members. Since its inception, Ufa has helped to strengthen the Russian economy by facilitating and combining financial services for its members.
Ufa’s steady budgetary results, low debt service and solid cash position led the international rating agency to change the view on the Russian organization, the agency stated. The overall capital Ufa, including the region’s regional capital, is about 1200 miles from Moscow. The cities of Moscow, Barnaul, Tverland, Krasnitsin, Kharkov, Moscow, Samara, Chechnya, St. Petersburg, Samtsevsk, Ufa itself, are among the largest cities in Russia. As a member of ufa, any of these cities in Russia could be considered as an international city.
According to its bylaws, a minimum of two of each member city of ufa must be registered with the national credit association. As of February 2021, however, three of every four registered businesses in Russia were still not registered, the national credit association reported. Among them were seven firms which had not yet established their business: Bashkortostan, Novosibirsk, Lugovsk, Tyumen, Khabarovsk, Viatopsolk and Kemer. Seven of the seven firms had not registered at all.
At present, there are more than one hundred and twenty such administrative districts in the Russian Federation. The capital, Moscow, has the maximum number of administrative districts, with ten each for the cities of Moscow, St. Petersburg, Moscow, Tverland, Volgograd, Chashmarni, Chemnitz, Yurvishche and Krasnitsin. Nearly half (nearly forty-nine) of all administrative districts in the Russian Federation have no rail connection. Almost half of all cities in the RF zone have no transport links with Ufa or with other cities outside the RF zone.
Though officially considered a part of ufa, there are actually many Ufa businesses outside of the cities of Russia. Some, for example, are registered in the names of companies in other countries. Another, Sberbank is the biggest banking corporation in the world, but only a few of its hundreds of branches are located in the RF zone. One example of a company that is established in another country but enjoying privileged relations with the authorities of the RF is the giant ufa stock broker United Russia. The main headquarters of Sberbank is situated in New York City, but some of its branches are located in London, Tokyo, Seoul, and Hong Kong. Among the main shareholders of Sberbank are the United States, Canada, and the United Kingdom.
The most important economic sector of ufa is the oil and gas industry. Most of ufa’s budget is spent on development of oil and gas infrastructure, partly on behalf of the government of the country of Bashkortostan. Bashkortostan, a region located in the extreme southwestern part of Russia, has an abundance of oil and gas deposits, providing the region with huge potential. The principal industries of the region include oil and gas, metal industry, metals processing, aluminum production, chemical composition, petroleum refining, and petrochemical processing. As a result, the salaries and conditions of working in the region are relatively high. The economy of ufa is expected to grow in the coming period, supported by the rising demand for energy products.