SCO & BRICS latest news and insights
According to a Russian Chamber of Commerce and Industry report new car brands, including those from Iran and India, may soon enter the Russian market. African producers have also expressed interest, but China remains the dominant player. This article questions whether these new brands can compete wi...
By Rhod Mackenzie
The year 2023 proved to be challenging for the Russian gas industry due to the loss of a significant portion of the European market, falling prices, and a subsequent reduction in production volumes, export profits, and gas industry revenues. In 2024, the industry is expected to f...
By Rhod Mackenzie
The Mir card, CNAPS, and CIPS are financial messaging systems used for national domestic and cross-border interbank payments in Russia, China, and Iran respectively. These systems were seen as potential alternatives to the Western-dominated payment systems. However, this percepti...
By Rhod Mackenzie
Polymetal Int has agreed to sell its Russian business for $3.69 billion. The deal is expected to closed by the end of March 2024, subject to regulatory approvals and approval by the shareholders' meeting, which will be held on March 7, 2024 in Astana (Kazakhstan).
The sale of 1...
By Rhod Mackenzie
According to a statement released by the Ministry of Foreign Affairs earlier this week, Egypt intends to negotiate a transition from the US dollar to national currencies for trade settlements with other BRICS countries.
The ministry stated that using national currencies would r...
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...
