SCO & BRICS latest news and insights
By Rhod Mackenzie
More than 80% of payments between the Russian Federation and China are made in national currencies, so we can declare that the de-dollarization of economic relations between the two countries has taken place, said Georgy Zinoviev, director of the first Asian department of the Rus...
By Rhod Mackenzie
With the countries of Iran, Saudi Arabia and the United Arab Emirates joining the BRICS, the multilateral mechanism now includes the World's major global oil producers and importers. Analysts now predict that a wider adoption of local currencies will be used for its trade among B...
By Anna Koroleva
The Brazilian Finance Minister Fernando Addad said that Brazil has offered Argentina to use the yuan as a guarantee instrument in bilateral trade. Thus, TASS reports, the Chinese currency can replace for these two countries the American one, which is still used. The state bank Ban...
