SCO & BRICS latest news and insights
By Herbert Poenisch
In January, five new members joined the Brics bloc: Saudi Arabia, the United Arab Emirates, Egypt, Iran and Ethiopia. This means that five new currencies are in the pot for payments and mutual holdings, joining those of Brazil, Russia, India, China and South Africa.
The Brics...
By Rhod Mackenzie
On March 13, 2024, EuroChem launched a new plant for producing phosphate fertilizers in Serra do Salitre, Brazil. The ceremony was attended by the President of Brazil, and the state governor and members of the government - the vice president and ministers - also spoke.
During hi...
By Ahmed Adel
On Monday, Union Commerce and Industry Minister Piyush Goyal said that many large and small economies around the world have expressed willingness to start trading in rupee terms with India, which could be a “game-changing” development for India’s trade. This is another important step...
By Rhod Mackenzie
Venezuela purchases Russian oil to dilute its own production and sell or use it domestically. While there may be other new counterparties involved, the end buyer often remains the same.
Unfortunately, 'green energy' has not lived up to expectations.
The news of Russian oil supp...
By Rhod Mackenzie
Reuters reports that the OPEC group and the International Energy Agency (IEA) have different forecasts for global oil demand in the next 16 years.
The IEA predicts a record level of oil demand in 2024, with an increase of 1.22 million barrels per day. On the other hand, OPEC pre...
Kommersant reports that Russian oil companies are now supplying oil to Venezuela. The United States had relaxed sanctions against Venezuela's oil sector until April, but the risk of falling under restrictions again is prompting Venezuela to increase its own oil exports. In February, the country ex...
