SCO & BRICS latest news and insights
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...
By Rhod Mackenzie
In an effort to reduce dependence on the largest Asian economy and protect the American 'green' sector from strong competitors, Washington intends to increase tariffs on Chinese goods. The Biden administration has largely left Trump's tariffs on approximately $300 billion of Chin...
By Rhod Mackenzie
Russia has been able to withstand the impact of sanctions more easily due to the 'big country trap.' This conclusion was reached by the Institute of Economics of the Russian Academy of Sciences. The scientists explain that if a state is a major player, then limiting its exports,...
