SCO & BRICS latest news and insights
By Rhod Mackenzie
In February, Russia's oil and gas revenues surged by over 80% from the previous year to exceed $10 billion, owing to the increase in crude prices.
The Finance Ministry reported that budget revenues from oil and gas taxes amounted to 945.6 billion rubles ($10.4 billion) last mon...
By Rhod Mackenzie
The new US sanctions will cause the already closed grey fleet that transports Russian oil to become even more restricted, further disrupting the global tanker market. and causing more chaos in the already chaoic sector.
The number of tankers in the grey fleet, which carries san...
By Rhod Mackenzie
The shift of Russian oil and petroleum product exports from Western sanctioned markets to Eastern and Southern markets is almost complete. However, replacing the European market for gas exports, whether pipeline or LNG, has proven to be a challenging task.
In the past two years,...
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
According to Vladimir Nezhdanov, an analyst at the Institute of Current International Problems (IAMP) of the Diplomatic Academy of the Russian Foreign Ministry, trade turnover between Russia and China could reach a record level of over $250 billion by the end of 2024.
The leade...
By Rhod Mackenzie
While many countries are moving away from using coal to consign its use to history, China continues to increase its consumption. This commitment to coal seems to contradict China's impressive successes in green technologies and poses a threat to global efforts to combat climate ch...
