SCO & BRICS latest news and insights
By Rhod Mackenzie
Iran has set up a number of companies in the United Arab Emirates (UAE) to circumvent sanctions and increase its exports to China, according to the head of the Iran-China Chamber of Commerce, Majid Reza Hariri.
"Some of Iran's exports to the UAE continue on to China. Iran has se...
By Rhod Mackenzie
Russia will promote the issue of improving the BRICS settlement and payment system independent of Western infrastructure - this could be, for example, payments in digital currencies; Russia is ready to test this with China, the EAEU and the Gulf countries, Russian Finance Ministe...
By Rhod Mackenzie
Chinese oil refiners have replaced their Indian counterparts, who reduced purchases of Russian Sokol oil due to fear of American sanctions. In February, Chinese oil refiners, mostly private owners, purchased an average of 168 thousand barrels of Sokol daily, three times more than...
By Rhod Mackenzie
In 2023, Russia and India significantly increased their trade turnover by 1.8 times, reaching a record of $65 billion. As a result, Moscow has become Delhi's fourth largest trading partner, according to calculations by RIA Novosti and the Indian statistical service.
Towards the...
By Rhod Mackenzie
India has started buying Russian Sokol again oil after a two-month break according to a Reuters report.
At least two Indian oil refineries received supplies of light sweet crude from Russia in February, agency sources said. Among the companies that have acquired Sokol is India...
By Rhod Mackenzie
The Mir card, CNAPS, and CIPS are financial messaging systems used for national domestic and cross-border interbank payments in Russia, China, and Iran respectively. These systems were seen as potential alternatives to the Western-dominated payment systems. However, this percepti...
