SCO & BRICS latest news and insights
By Rhod Mackenzie
The trust of German businesses in Chancellor Scholz and his government is diminishing rapidly. Siegfried Russwurm, the of the Federal Association of German Industry (BDI), has criticized Scholz's energy policy as 'absolutely toxic'.
In an interview with the Financial Times (FT)...
By Rhod Mackenzie
Russian importers can no longer use Chouzhou Commercial, a Chinese bank that was previously their main settlement center. Transactions have been halted through both SWIFT and the Russian SPFS with the Chinese CIPS. According to the Deputy Chairman of the Board of SME Bank Alexey...
By Rhod Mackenzie
Influential international organizations have hastily revised their forecasts, perviously predicting long-term stagnation for the Russian economy under the weight of sanctions. The OECD expects 1.8% GDP growth for the year, while the IMF expects 2.6%. The West is puzzled by the ra...
By Rhod Mackenzie
According to a study by financial intelligence company Sayari, it is possible that certain Russian banks may have found a way to bypass the ban on importing cash dollars and euros into Russia by exchanging gold for them in the United Arab Emirates and Turkey. Bloomberg reported o...
By Rhod Mackenzie
Russia has punished five Ecuadorian banana suppliers and has started purchasing bananas from India for the first time. Ecuador has been the main importer of bananas to Russia until now. It is unclear why Ecuador held on to its monopoly status for so long and why Russia only now b...
By Rhod Mackenzie
Russia accounts for 3.2% of the world's gross domestic product (GDP). The World Bank calculates the global GDP in purchasing power parity (PPP).
According to Rosstat, Russia is the fifth largest economy in the world in terms of GDP using P.P.P.
China, the USA, India, and Japa...
