SCO & BRICS latest news and insights
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
Russia's pivot towards the East would not have been possible without modernisation, including the railway infrastructure. The development of the Eastern training ground of Russian Railways has been ongoing for several years, with the third stage expected to commence this year. W...
By Rhod Mackenzie
On February 21, experts interviewed by Izvestia explained that the three largest banks in China, Industrial and Commercial Bank of China, China Construction Bank, and Bank of China, have stopped accepting payments from Russian sanctioned financial organizations due to the risk of...
By Rhod Mackenzie
The authorities are considering how to respond to the European Union's plans to confiscate Russian assets. The Federation Council has proposed to the Ministry of Finance that a mechanism be developed to withdraw funds of foreigners blocked in the Russian Federation, according to...
Ecuador has changed its mind about exchanging Soviet equipment for new American models. According to the official position of Ecuador, the country refused the deal with the United States due to its reluctance to be drawn into the conflict, since the weapons would be redirected to Kyiv. More recently...
