One of the many criticisms of the manner in which Brussels has managed its sanctions policy against Russia has been the knock-on effect it has had on third party countries. This has actively damaged the European Union’s credibility in the eyes of numerous countries, many of them in the global south. An example is a […]
The BRICS Pay system has been launched, with immediate implications for the future role of the US dollar, and the use of financial sanctions upon other countries. The system bypasses the US controlled SWIFT payments system, disregards the US dollar as a preferred currency and allows instant settlement in sovereign currencies instead. It is likely […]
Russian President Vladimir Putin has forecast that the economies of Russia, China, India, and Saudi Arabia will show strong positive growth over the coming years, while it will also be advanced in Africa and Southeast Asia. Speaking at a BRICS media event, he stated “Growth, positive growth will be in such strong countries as China, […]
Readers will be familiar with discussions amongst the BRICS countries to establish a SWIFT alternative payments and settlements platform, however the concept is now spreading. Russia is calling for the removal of obstacles to the implementation of plans to increase the share of national currencies in mutual settlements between the Shanghai Cooperation Organization (SCO) countries […]
The Russian Prime Minister, Mikhail Mishustin has met with the Mongolian Prime Minister Luvsannamsrain Oyun-Erdene at the annual Prime Ministerial meeting of the Shanghai Cooperation Organisation (SCO) currently being held in Islamabad. Russia is a founding member of the SCO, while Mongolia is an Observer nation. Mishustin said that “The Russian side is giving a […]
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The Kremlin spokesman Dmitry Peskov has stated that the BRICS is a more welcoming and member-oriented group than the European Union, commenting on the possibility that Serbia could seek to join the BRICS bloc. His comments came after Belgrade said that instead of EU membership, it would explore the option of joining BRICS, which is […]
Russia’s Deputy Foreign Ministers Sergei Vershinin and Alexander Grushko met with Turkish Deputy Foreign Minister Mehmet Kemal Bozay in Moscow, for consultations to discuss the implementation of strategic economic and energy projects along with regional agenda items. The Russian Foreign Ministry has said that “The two parties had a substantive exchange of opinions on key […]
Russian President Vladimir Putin has formally requested that the Russian State Duma ratify the treaty on comprehensive strategic partnership with North Korea (DPRK) that he signed during his trip to Pyongyang in June. The Russian media reported on Monday that the ratification proposal had been registered in the legislature’s docket and is expected to be […]
The Meeting of Council of Prime Ministers of SCO Member States has begun in Pakistan, with Russia represented by Prime Minister Mikhail Mishustin. The SCO includes full members Belarus, China, India, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan and Uzbekistan. Dialogue partners include Afghanistan and Mongolia, while Armenia, Azerbaijan, Bahrain, Cambodia, Egypt, Kuwait, Maldives, Myanmar, Nepal, […]
The Russian Ministry of Finance has introduced significant changes to the market exit conditions of Russian based assets owned by individuals or entities from so-called “unfriendly” states or companies controlled by them. These are as follows: The above requirements are applicable both to new petitions for obtaining the permission of Government Commission for Control over […]
Kudzai Dominic Chiwenga, an associate professor at the University of Zimbabwe, has spoken about currency strategies and compared the World Banks ‘International Monetary Fund’ (IMF) with the BRICS New Development Bank (NDB). The NDB, he has said, provides more flexible and supportive terms than the IMF. Chiwenga, who is also the Chairman of the Zimbabwe-Russia […]
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