SCO & BRICS latest news and insights
The BRICS countries, led by Russia, are considering creating their own foreign trade settlement system based on blockchain. This could be economically profitable and politically safe, as it would make the BRICS countries less dependent on the decisions of Western politicians.
The BRICS countries...
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 Rhod Mackenzie
Russia will promote the issue of improving the BRICS settlement and payment system independent of Western infrastructure - this could be, for example, payments in digital currencies; Russia is ready to test this with China, the EAEU and the Gulf countries, Russian Finance Ministe...
By Rhod Mackenzie
Trade between India and Russia reached a record $54.7 billion. The majority of this volume comes from Russian exports. As a result, the Russian Federation has accumulated rupees, which are difficult to convert. The solution to this problem is increasingly being cited as reinvestm...
By Rhod Mackenzie
According to Maxim Osadchiy, the head of the analytical department of BKF Bank, countries worldwide are actively developing alternatives to the SWIFT interbank system for making payments. However, these alternatives still only account for a small share of traffic, representing up...
