SCO & BRICS latest news and insights
By Rhod Mackenzie
Russia accounts for 3.2% of the world's gross domestic product (GDP). The World Bank calculates the global GDP in purchasing power parity (PPP).
According to Rosstat, Russia is the fifth largest economy in the world in terms of GDP using P.P.P.
China, the USA, India, and Japa...
By Rhod Mackenzie
Last week, the Finance Committee of the Iraqi Parliament called for an end to the sale of Iraqi oil in dollars in response to US sanctions against Iraqi banks.
According to Oil Price, the committee stated that the US Treasury is using money laundering as a pretext for imposing...
Over the past year, the BRICS economic alliance has grown notably in its prominence. Indeed, the bloc enacted its first massive expansion since 2001, inviting six nations to join its ranks. Subsequently, amid that expansion, the BRICS alliance is predicted by Goldman Sachs to dominate global GDP by...
By Rhod Mackenzie
European and American energy officials have differing views on the implications of the Biden administration's recent halt to liquefied natural gas (LNG) export permits for Europe's energy security. American LNG became Europe's main replacement after it abandoned Russian pipeline...
By Rhod Mackenzie
Russia's oil and gas revenues have continued to grow since the beginning of the year. This extra cash has made it possible to resume replenishing the country's reserves. However, the situation has become quite ambiguous and the risks of a decline in the country's income have not...
By Rhod Mackenzie
Konstantin Ordov, the Director of the Higher School of Finance at the Russian Economic University, explained to Izvestia on February 5 why the European Commission does not plan to impose new import bans on goods from Russia in the 13th package of anti-Russian sanctions. He stated...
