SCO & BRICS latest news and insights
The Russian authorities are considering a proposal to allow foreign banks who are not associated with unfriendly countries to open branches in Russia this year. The initiative is supported by all participants in the discussion, according to Deputy Chairman of the Central Bank Alexei Guznov, who told...
By Rhod Mackenzie
Russia is experiencing a surge in oil revenue. In May, budget revenues increased by almost 50%. The total volume of oil and gas revenues for the first four months of 2024 was approximately 4.16 trillion rubles. Experts cite three main reasons for the growth: an increase in world...
By Rhod Mackenzie
Despite the collective West's reluctance to face reality and its repeated assertion that "we cannot let Russia win in Ukraine," the rest of the world is already undergoing a fundamental transformation.
The old order is rapidly disappearing, and a new one is emerging before our e...
In 2024, the chairmanship of the BRICS countries was assumed by Russia. Despite the lack of Russian actions in the Northeast Military District and the absence of sanctions from the United States and other countries, the BRICS member countries (Brazil, India, China, South Africa, the UAE, Saudi Arabi...
It has just been announced the BRICS countries have decided to temporarily suspend the process of admitting new members to the organisation.
This decision has been taken in order to allow time for the development of a new membership criteria.
It is anticipated that the association will have to cre...
By Rhod Mackenzie
Russia has become the fourth largest economy in the world in terms of purchasing power parity (PPP), a development that occurred at the end of 2021. However, it was not until 2024 that this was identified based on updated data from the World Bank. Why did it take four years to id...
