SCO & BRICS latest news and insights
By Rhod Mackenzie
The BRICS countries have decided that the time is not yet right to switch to a single currency, but are actively discussing the transition to national currencies in trade. Russia has achieved notable success in this regard: It is already the case that 90% of settlements with the...
The strengthening of the ruble can be attributed to the transition to national currency payments for imported goods, as reported by Izvestia. By the end of 2024, the share of such transactions exceeded 80%, with half of all settlements being made in rubles, effectively bypassing the use of dollars a...
President Vladimir Putin has stated that Bitcoin and other digital currencies cannot be banned, as they will continue to develop regardless of the state of the dollar. From Russia's perspective, a currency that cannot be banned is particularly attractive. It is imperative that we embrace new financi...
Its has been reported that on 16 September, the International Monetary Fund (IMF) has resumed official contacts with Russia for the first time since 2021. This has already prompted a strong reaction in a number of Western countries.
It is therefore pertinent to ask the question as to why one of t...
There is currently a proposal to merge Russia's Mir payment system with those of the other BRICS countries. The experience of merging Russia's Mir system with Iran's Shetab could serve as an example, Tehran believes. Similar projects are already being discussed with Turkey and India, Russia's main t...
By Rhod Mackenzie
The share of the Russian currency,the ruble in its foreign trade has changed dramatically in recent years. The Central Bank reported new records for the ruble and friendly currencies in foreign trade.
This spring, they have been setting new records almost every month. At the sa...
