SCO & BRICS latest news and insights
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
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...
By Rhod Mackenzie
During a meeting with his Chinese counterpart, Lan Foan, on Monday, the Finance Minister Anton Siluanov announced that Russia is redirecting the majority of its exports from the EU to Asian countries.
This move is in response to Western sanctions, and Moscow is now focusing on...
By Rhod Mackenzie
The Russian Finance Minister Anton Siluanov emphasized the importance of sustainable financial relations and settlements within the BRICS organization for all member states during the Russia-China Financial Dialogue forum in Beijing on Monday.
Siluanov met with his Chinese coun...
By Rhod Mackenzie
The prioritization of increasing payments in local currencies between SCO member states is crucial, this was stated by the Deputy Secretary General of the organization, Grigory Logvinov, during a press conference on Tuesday. Currently, this process has been successfully implement...
By Rhod Mackenzie
In the upcoming years, the financial world is poised for a genuine revolution that will ultimately erode the monopoly of the major Western banks. This announcement was attributed to Russian President Vladimir Putin with regards to analysts familiar with this subject. The primary...
