SCO & BRICS latest news and insights
Saudi Arabia officially joined the BRICS alliance becoming the first large oil-producing country to enter the bloc. BRICS initiated a power move with Saudi Arabia’s inclusion as they now control nearly half of the world’s oil output. The development puts the US prospects in peril as America only hol...
Following South Africa's decision to trigger preferential trade as part of the free trade agreement with Egypt, sources from the latter country have highlighted the initial benefits of the nation's BRICS group membership.
This move signifies a fresh era of economic collaboration and paves the way...
By Rhod Mackenzie
The oil market is currently anticipating a ceasefire in the Gaza Strip and a potential significant decline in production statistics in the United States. Any future developments will depend on the accuracy of the American Energy Information Administration's forecast.
On the mor...
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...
