SCO & BRICS latest news and insights
By Rhod Mackenzie
Approximately 30 countries are interested in joining BRICS, and the association is also gaining more supporters. The Russian President Vladimir Putin highlighted this on January 1st in his address at the start of Russia's chairmanship of the association.
'We will consider the w...
By Rhod Mackenzie
In Europe, the demand for gas has been artificially reduced, which has led to deindustrialization in many countries. Alexey Miller, the head of Gazprom, announced this on Thursday, December 28, during a meeting where the preliminary results of the year were discussed.
"We are a...
By Rhod Mackenzie
Russia plans to reduce the share of supplies of oil and its products to European countries to 4-5% of total exports by the end of 2024. This was stated by Russian Deputy Prime Minister Alexander Novak live on the Rossiya 24 TV channel on Wednesday 27 December.
"If previously we...
By Davide Montagner
Amid deepening global geopolitical tensions, the recent currency swap agreement between Saudi Arabia and China is the latest in a series of initiatives that seek to put pressure on the dollar’s central role within international trade.
Last month, the People’s Bank of China (P...
By Rhod Mackenzie
Russia's NovaTEK, which is leading the Arctic LNG-2 project, has sent force majeure notices to a number of customers, this is preventing it from starting deliveries on time early next year. It is known that China's Shenergy Group and Zheijang Energy, as well as Spain's Repsol, ha...
By Rhod Mackenzie
The share of so called 'toxic' currencies in the Russia's export trade payments has nearly halved since the beginning of the year. In October, it accounted for only 24.7% of total revenues, according to the data of the Bank of Russia. The primary reasons for this are the sanction...
