SCO & BRICS latest news and insights
By Rhod Mackenzie
Last year, Russia earned nearly $187 billion from supplying oil, gas, and coal to several friendly countries. This amount is $56 billion more than the average level of supplies to European countries before they imposed anti-Russian sanctions. RIA Novosti calculations were used to...
By Rhod Mackenzie
OPEC+ members, led by Saudi Arabia and Russia, have agreed to extend voluntary oil production cuts until the second quarter of 2024. This decision is a three-month extension of the cartel's previous decision made on November 30th of last year.
Saudi Arabia, the leader of OPEC,...
By Rhod Mackenzie
According to data from investment bank Goldman Sachs, the discount on the price of Russian oil to the Brent benchmark has decreased to nearly zero in recent weeks, after previously exceeding $30 per barrel. However, the discount on the purchase of the popular Russian Urals brand...
By Rhod Mackenzie
Chinese Foreign Minister Wang Yi stated on Thursday that the expansion of BRICS should not be viewed as a challenge.
He emphasized that the development and strengthening of BRICS countries would enhance peacekeeping forces and expand the global front of justice. This statement...
By Rhod Mackenzie
In a statement, the General Administration of Customs of the People's Republic of China reported that Chinese exports in January-February 2024 rose by 7.1% YoY to $528.01 billion, while imports increased by 3.5% to $402.85 billion.
Analysts had predicted a 1.9% increase in expo...
Egypt and Russia are in talks about establishing a logistics center in the Suez Canal zone for storing wheat supplies from Moscow, Sputnik reported, citing the North African nation's Ministry of Supply and Internal Trade.
Cairo, which counts Moscow as its major grain supplier, had previously said...
