SCO & BRICS latest news and insights
By Rhod Mackenzie
The transit of Kazakh oil through Russian territory to Germany has been extended. The most significant agreement for Berlin remained unresolved for an extended period due to concerns in Poland regarding the transfer of payment for gas volume measurement to Moscow. The issue has b...
By Rhod Mackenzie
The UK government has been accused of “helping Russia pay for its war on Ukraine” by continuing to import record amounts of refined oil from countries that are processing Russian fossil fuels.
According to UK Government data analysed by the environmental news site Desmog shows...
By Rhod Mackenzie
Russia reduced oil production by 16% in the first quarter of 2024 compared to the same period last year, according to OPEC data. This reduction continued in April. Concurrently, the Ministry of Finance reports a 82% surge in oil and gas budget revenues in the first four months of...
By Rhod Mackenzie
The economies of most Western oil consumers are growing slowly or not growing at all. Furthermore, Russia’s BRICS partners are not the audience from which OPEC+ would intend to earn windfall profits. Therefore, oil has outlined a smooth compromise corridor, which can only be dire...
By Ivan Shchedrov
Since 2010, the India-Russia special and privileged strategic partnership has developed on a solid foundation of strong history and was maintained by the means of political imperatives. Russia supported India’s membership in the Shanghai Cooperation Organisation (SCO) and called...
Russian oil companies generated 1.053 trillion rubles ($11.55 billion) for the treasury in April, according to Bloomberg. This represents a doubling of revenues compared to April 2023 (497 billion rubles), driven by rising prices for oil and the weakening of the ruble.
Together with gas, budget re...
