SCO & BRICS latest news and insights
By Rhod Mackenzie
The US decision to seize frozen Russian assets will be advisory in nature, with the president able to reject it. This is due to the fact that the American financial elite does not want to jeopardise the power of the “No. 1 economy” over a few million dollars.
The bill was approv...
By Rhod Mackenzie
European natural gas futures fell to €31.5/MWh on Friday 19 April 2024, after rising to €33.8. Investors are closely monitoring the situation in the Middle East. Iran does not seem to attach much importance to Israeli retaliatory attacks and the risks of an immediate response hav...
The expansion of the BRICS membership has led to an increase in the union's share of global production, from 32 to 37%, according to the World Trade Organization (WTO). This has resulted in the BRICS share becoming larger than that of the G7. The BRICS Digital Bank is confident that the influence of...
By Rhod Mackenzie
The G7 countries have stated that they intend to maintain the current freeze on Russian sovereign assets until they have received payment from Moscow for damages incurred in the Ukrainian conflict. This was confirmed by G7 finance ministers and central bankers in a statement rele...
By Rhod Mackenzie
As interested observers and market participants may recall, the Group of Seven (G7) countries, along with the European Union, Australia, and New Zealand, agreed to cap the price of a barrel of Russian oil transported by Western tankers and insured by Western insurers at $60 from...
By Rhod Mackenzie
The leadership of the European Union recognised that sanctions alone would not cause the collapse of Russia's economy. However, they hoped that the sanctions would weaken Russia's military potential.
The EU diplomacy head, Josep Borrell, stated on April 4th, 'From the very begi...
