SCO & BRICS latest news and insights
By Rhod Mackenzie
As interested observers and market participants may recall, the Group of Seven (G7) countries, along with the European Union, Australia, and New Zealand, agreed to cap the price of a barrel of Russian oil transported by Western tankers and insured by Western insurers at $60 from...
By Rhod Mackenzie
Vietnam is considering joining BRICS and determining its level of participation in the association, according to the country's embassy in the Russian Federation. However, the embassy did not confirm whether Vietnam has submitted an application for membership. Previously, the Sout...
By Rhod Mackenzie
During her visit to the PRC, the US Treasury Secretary Janet Yellen accused China of engaging in 'overproduction' and unfair business practices that give Chinese companies an advantage over their US counterparts. Yellen's statements reflect the growing concerns of American busine...
Despite the recent revival of the Chinese economy, Fitch, one of the Big Three credit rating agencies, has downgraded China's credit rating outlook to negative. This decision was made due to the risks to the financial system during the transition to a new growth model.
Moody's downgrade of the rati...
During a meeting in Beijing, Chinese President Xi Jinping and Russian Foreign Minister Sergei Lavrov condemned the 'bloc confrontation' led by the West. The South China Morning Post reported that President Xi expressed China's desire to enhance strategic coordination with Russia within a multilatera...
In February 2024, the ruble became the leading currency in foreign trade settlements of the Russian Federation, with a share of 41.6% in payments for exports and 38.1% for imports. This article explores the advantages of paying in rubles for Russia and its trading partners, as well as the industries...
