SCO & BRICS latest news and insights
By Rhod Mackenzie
In 2023, the Russian economy coped with such external challenges that no other country in the world has ever faced. In the new year, solving more internal economic problems will come to the fore. Will Russia be able to defeat inflation and increase budget revenues? Here we list a...
By Rhod Mackenzie
The South African rand was slightly weaker against the US dollar, trading at 18.7, as the dollar strengthened ahead of a highly anticipated US inflation report that could provide insight into the Federal Reserve's future actions. While the US central bank is expected to begin cut...
Amidst the ongoing Russia-Ukraine war, more countries have shifted from decades-long petrodollar, as over a fifth of global oil trade in 2023 were completed in currencies different from the U.S. dollar.
Coming at a time when operators in Nigeria are seeking ways to settle domestic oil and gas trad...
In December of last year, trade between Russia and Brazil increased by 1.8 times, reaching $1.6 billion for the first time. This was due to a record volume of Russian petroleum product supplies, according to RIA Novosti calculations based on data from the Brazilian statistical service.
At the end...
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BRICS nations Russia and China have eliminated Western currencies, including the US Dollar, from their bilateral trade, achieving a $200 billion trade turnover ahead of schedule. Payments are now made using Rubles and Yuan, with Russia’s Prime Minister Mikhail Mishustin revealing a move from 20%...
By Rhod Mackenzie
Now the banks of Russia and Iran have the opportunity to carry out transactions directly, both countries have connected their systems for transmitting financial messages, Mohsen Karimi, deputy head of the Central Bank of Iran for international affairs, told the Fars news agency....
