SCO & BRICS latest news and insights
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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...
Russia’s envoy in New Delhi has expressed hope that China and India will normalize relations, which have been strained due to unresolved border disputes.
Speaking to the media on the sidelines of a conference in New Delhi organized by Russia’s Valdai Discussion Club and India’s Vivekananda Intern...
By Rhod Mackenzie
According to Maxim Osadchiy, the head of the analytical department of BKF Bank, countries worldwide are actively developing alternatives to the SWIFT interbank system for making payments. However, these alternatives still only account for a small share of traffic, representing up...
By Yuri Mavashev
In 2023, the year for the East and Asia as a whole was not only busy but also oversaturated. The same can be said about Russian politics, or more precisely, about the new opportunities for Moscow in the region. In Mackinder's words, the battle between the 'civilization of the land...
By Rhod Mackenzie
Now the banks of Russia and Iran have the opportunity to carry out transactions directly, both countries have connected their systems for transmitting financial messages, Mohsen Karimi, deputy head of the Central Bank of Iran for international affairs, told the Fars news agency....
