SCO & BRICS latest news and insights
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...
By Rhod Mackenzie
Last week, the Finance Committee of the Iraqi Parliament called for an end to the sale of Iraqi oil in dollars in response to US sanctions against Iraqi banks.
According to Oil Price, the committee stated that the US Treasury is using money laundering as a pretext for imposing...
