SCO & BRICS latest news and insights
By Claudia Luna Palencia
Is this current weakness just another passing episode, as has happened on other occasions since the end of Bretton Woods? Is it a structural trend caused among other things by the fact that China has been selling its dollars for years, after becoming the main holder of deb...
In February 2024, the ruble became the leading currency in foreign trade settlements of the Russian Federation, with a share of 41.6% in payments for exports and 38.1% for imports. This article explores the advantages of paying in rubles for Russia and its trading partners, as well as the industries...
About 92 percent of trade settlement between Russia and China is now conducted in Russian rubles and Chinese yuan, Russian Deputy Prime Minister Alexei Overchuk said at the Boao Forum for Asia in South China's Hainan Province.
He also said that Russia hopes to strengthen financial ties with other...
Russian oil companies experienced payment delays for crude oil and fuel of up to several months. According to Reuters, this is due to several banks in China, Turkey, and the UAE being afraid of secondary sanctions. However, experts suggest that the situation is not critical.
Eight sources cited by...
According to Kpler, a company that analyses global commodity flows, China is set to break its record for oil purchases from Russia this month. Based on monitoring tankers carrying Russian oil, it is expected that China will receive an average of 1.7 million barrels of oil per day throughout the firs...
By Rhod Mackenzie
According to the Central Bank's 'Review of financial market risks', the yuan's share in Russia's export revenues rose to 40.8% in January, while in payments for imports it increased to 38.5%.
The report states that 'against the background of a decline in foreign trade volumes i...
