SCO & BRICS latest news and insights
By Rhod Mackenzie
The Russian Foreign Minister Sergei Lavrov stated that approximately 30 countries plan to establish partnerships with BRICS and strengthen their ties with the association.
On December 26, he addressed the commission of the General Council of United Russia on international coope...
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
In recent years, the world has faced various shocks such as pandemics, military conflicts, and sanctions. These events have led to changes in the financial system, which China is capitalising on by promoting the yuan as an alternative to traditional payment units.
Russia also...
By Rhod Mackenzie
In the last monthe of autumn , the Chinese currency ranked fourth in global payments, reaching a record 4.61%, according to the SWIFT Financial System. The growth rate of the yuan's share speaks for itself: it has almost doubled compared to last year's 2.37%. Additionally, in Oct...
By Rhod Mackenzie
The arrival of a tanker from Novorossiysk to the United States in December caused a stir in Ukraine. However, the cargo turned out not to be fuel and the shipment was part of a regular apttern. The American authorities and regulators are ensuring their food security and complianc...
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...
