SCO & BRICS latest news and insights
About 92 percent of trade settlement between Russia and China is now conducted in Russian rubles and Chinese yuan, Russian Deputy Prime Minister Alexei Overchuk said at the Boao Forum for Asia in South China's Hainan Province.
He also said that Russia hopes to strengthen financial ties with other...
In a significant move, India and Russia have agreed on a new Rupee-Ruble exchange mechanism, marking a pivotal moment in their longstanding relationship. This development is not just an economic arrangement but a reaffirmation of the deep-rooted friendship and strategic partnership that has weathere...
By Rhod Mackenzie
According to the Central Bank's 'Review of financial market risks', the yuan's share in Russia's export revenues rose to 40.8% in January, while in payments for imports it increased to 38.5%.
The report states that 'against the background of a decline in foreign trade volumes i...
According to data from the Central Bank, the share of ruble settlements with Africa increased from 21.9% in 2022 to 48.1%
in 2024.
Additionally, there was a significant increase in the volume of ruble settlements with American countries, rising from 22.7% to 35.1%.
The share of the Russian curren...
By Rhod Mackenzie
Russia has become the leading economy in Europe and the fifth in the world in terms of purchasing power parity (PPP). It has not only overtaken Germany, but is also preparing to catch up with Japan. What does PPP mean? And how has Russia achieved such a rise?
Russia has become t...
By Rhod Mackenzie
Russian electronics importers have stopped using dollars and euros for payments and are now using currencies such as yuan and dirhams from friendly countries, according to news reports. This has helped to avoid price increases for equipment and, in some cases, even reduce prices....
