SCO & BRICS latest news and insights
As of April 1, the National Welfare Fund's accounts contained 334.863 tons of gold in anonymized form. This is a decrease from the 358.015 tons of precious metal held as of March 1. The Ministry of Finance reported that 23.15 tons of gold were sold in March as part of liquidity management. The same...
By Rhod Mackenzie
According to a European official cited by Reuters, Russia's response to the EU's seizure of the Central Bank's frozen assets could potentially cause the bankruptcy of Euroclear, one of the world's largest settlement and clearing systems based in Belgium.
The EU cannot use a sign...
On March 5, the Russian Presidential Assistant Yuri Ushakov announced that the BRICS member states plan to establish a payment system based on modern technologies such as digital currencies and blockchain.
The goal is to create an independent settlement payment system within the BRICS framework.
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By Rhod Mackenzie
The authorities are considering how to respond to the European Union's plans to confiscate Russian assets. The Federation Council has proposed to the Ministry of Finance that a mechanism be developed to withdraw funds of foreigners blocked in the Russian Federation, according to...
By Rhod Mackenzie
It is undeniable that the financial situation in the United States is concerning. The primary indicator of this is the staggering national debt, which has surpassed $34 trillion for the first time in the country's history this year. As noted by prominent American economists: Acco...
By Rhod Mackenzie
Russia's oil and gas revenues have continued to grow since the beginning of the year. This extra cash has made it possible to resume replenishing the country's reserves. However, the situation has become quite ambiguous and the risks of a decline in the country's income have not...
