SCO & BRICS latest news and insights
By Pepe Escobar
As we enter incandescent 2024, four major trends will define the progress of interconnected Eurasia.
1.Financial/trade integration will be the norm. Russia and Iran already integrated their financial message transfer systems, bypassing SWIFT and trading in rials and rubles. Russi...
By Prerna Gandhi
India today is the fastest-growing economy in the world, with a strong outlook of 7-8 per cent growth rates for the coming decade. Russia, despite having become the most sanctioned economy in the world, has shown uncommon resilience and returned to positive GDP growth.
Bilatera...
Amidst the ongoing Russia-Ukraine war, more countries have shifted from decades-long petrodollar, as over a fifth of global oil trade in 2023 were completed in currencies different from the U.S. dollar.
Coming at a time when operators in Nigeria are seeking ways to settle domestic oil and gas trad...
By Rhod Mackenzie
China is attempting to avoid a recession by investing in manufacturing and increasing exports. According to Bloomberg analysts, this strategy is complicated by ongoing trade wars with the United States and EU countries, as each nation vies for influence on the global stage. For m...
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BRICS nations Russia and China have eliminated Western currencies, including the US Dollar, from their bilateral trade, achieving a $200 billion trade turnover ahead of schedule. Payments are now made using Rubles and Yuan, with Russia’s Prime Minister Mikhail Mishustin revealing a move from 20%...
India, the UAE’s second-largest trading partner, has made its first-ever payment in rupees for crude oil purchased from the Emirates, signalling what could be a paradigm shift in dollar-denominated global trade transactions while giving a game-changing fillip to the booming two-way trade that is on...
