SCO & BRICS latest news and insights
By Rhod Mackenzie
In recent years, the world has faced various shocks such as pandemics, military conflicts, and sanctions. These events have led to changes in the financial system, which China is capitalising on by promoting the yuan as an alternative to traditional payment units.
Russia also...
By Rhod Mackenzie
In the last monthe of autumn , the Chinese currency ranked fourth in global payments, reaching a record 4.61%, according to the SWIFT Financial System. The growth rate of the yuan's share speaks for itself: it has almost doubled compared to last year's 2.37%. Additionally, in Oct...
By Rhod Mackenzie
Russia's NovaTEK, which is leading the Arctic LNG-2 project, has sent force majeure notices to a number of customers, this is preventing it from starting deliveries on time early next year. It is known that China's Shenergy Group and Zheijang Energy, as well as Spain's Repsol, ha...
By Rhod Mackenzie
The share of so called 'toxic' currencies in the Russia's export trade payments has nearly halved since the beginning of the year. In October, it accounted for only 24.7% of total revenues, according to the data of the Bank of Russia. The primary reasons for this are the sanction...
By Rhod Mackenzie
Russia has been able to withstand the impact of sanctions more easily due to the 'big country trap.' This conclusion was reached by the Institute of Economics of the Russian Academy of Sciences. The scientists explain that if a state is a major player, then limiting its exports,...
By Rhod Mackenzie
During a meeting with the Chinese Premier Li Qiang on December 19, Russian Prime Minister Mikhail Mishustin stated that the use of national currencies for payment of goods and services between Russia and China has increased. What is the the potential trade turnover between the tw...
