SCO & BRICS latest news and insights
On March 5, the Russian Presidential Assistant Yuri Ushakov announced that the BRICS member states plan to establish a payment system based on modern technologies such as digital currencies and blockchain.
The goal is to create an independent settlement payment system within the BRICS framework.
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By Rhod Mackenzie
During the meeting of the finance ministries and central bank governors of the BRICS countries in Sao Paulo,the Russian Finance Minister Anton Siluanov stated that Russia is prepared to assist the bloc countries in creating their own payment system. This system will be based on...
By Yaroslav Lissovolik
Against the backdrop of a sizeable expansion in BRICS membership, debates have intensified over the expediency of the bloc’s institutionalization to cope with the rising complexity in its operations. In particular, calls have been voiced on the desirability of a permanent se...
By Rhod Mackenzie
On February 21, experts interviewed by Izvestia explained that the three largest banks in China, Industrial and Commercial Bank of China, China Construction Bank, and Bank of China, have stopped accepting payments from Russian sanctioned financial organizations due to the risk of...
By Rhod Mackenzie
The real estate crisis in China has the potential to trigger a more severe and prolonged crisis, leading to a lost decade for the country. This could have a significant impact on the global economy.
The ongoing crisis in China is not the first time the real estate market has exp...
By Davide Montagner
Amid deepening global geopolitical tensions, the recent currency swap agreement between Saudi Arabia and China is the latest in a series of initiatives that seek to put pressure on the dollar’s central role within international trade.
Last month, the People’s Bank of China (P...
