SCO & BRICS latest news and insights
The expanded BRICS, the association of major developing economies, could become a platform for a self-sufficient dollar-free grain market, economists say.
BRICS – which is an acronym for Brazil, Russia, India, China, and South Africa – added net grain importers Egypt, Ethiopia, Iran, Saudi Arabia,...
By Rhod Mackenzie
On January 1, Russia took over the chairmanship of BRICS. Since the beginning of this year, five more countries have joined the association: Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE. Argentina was also expected to join, but its new president, Javier Miley, abruptly change...
By Rhod Mackenzie
More nations worldwide will gradually shift away from using the dollar in international trade and instead use their national currencies. Professor Jeffrey Sachs, an economist at Columbia University in the United States, shared this opinion with Izvestia on January 5.
“I do not b...
By Rhod Mackenzie
The year 2023 saw the world become divided into two camps: the so called collective West, led by the United States, and an informal alliance of China, Russia, and other countries that have formed an alternative to the Western world order. The clash between these opposing models o...
By Rhod Mackenzie
According to a study cited by RIA Novosti, one-third of UN member countries have opted for de-dollarization and are developing their own national means of payment.
The analysis reviewed statements made by officials from all 193 UN countries in international and Russian media....
By Rhod Mackenzie
Russia and China are strengthening their partnership. They have already reached the $200 billion trade mark ahead of schedule, and the share of the dollar in transactions is steadily declining. In politics, Beijing is not only promoting the multipolarity agenda with Moscow, but h...
