SCO & BRICS latest news and insights
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...
By Rhod Mackenzie
Over the past two years, the concept of the "Global Majority" has emerged as a prominent feature in Russian foreign policy discourse. The term is used to define the group of more than 100 countries that are not participating in the West’s economic sanctions against Russia. The mo...
By Rhod Mackenzie
During their visit on 16-17 May, the heads of Russia and China identified the tasks and plans for the further development of Chinese-Russian relations and cooperation. A large number of economic initiatives and plans were announced. As Vladimir Putin stated, Moscow and Beijing ar...
For the first time, the ruble accounted for more than 40% of both exports and imports of Russia. Furthermore, prior to the Ukrainian crisis in 2022, the share of the ruble in exports was approximately half that of imports. However, it proved more challenging for importers to switch to the national c...
The International Monetary Fund (IMF) has for the first time outlined the deglobalisation trend in the world economy. The study, entitled 'Geopolitics and its impact on world trade and the dollar', identified three main blocs in the global economy: those focused on the United States, China and the n...
