Intra-BRICS trade is booming, driven by the expanded BRICS+ bloc (now including energy-rich nations like Iran, UAE, Saudi Arabia) and a strong push for de-dollarization, boosting local currency settlements and new payment systems like CIPS. Key themes include diversifying supply chains, enhancing South-South cooperation, developing local payment systems (NDB, CIPS), and fostering tech/industrial integration to reduce reliance on Western markets, with total intra-bloc trade already exceeding US$1 trillion and growing significantly. Navigate the BRICS business framework. Find news on economic cooperation, the New Development Bank, and joint investment projects. Essential for businesses leveraging the powerful BRICS economic bloc.
Belarus, which was accepted as a BRICS Partner nation in 2024, is making plans to join the BRICS New Development Bank. Doing so will open up alternative opportunities to raise capital for infrastructure and related developments as an alternative to capital markets in ‘unfriendly’ nations and to be able to do so without using the US dollar or Euro.
A comprehensive overview of Russia’s trade and investment with the ASEAN nations between 2026 and 2031. We analyse all elements of mutual trade opportunities as many ASEAN countries face ongoing Middle East-driven oil supply disruptions and fertilizer supply chain and production cost uncertainties, alongside broader geopolitical realignments. Essential intelligence for anyone in the ASEAN trade space.
Russia’s VTB bank is rolling out a QR code payment system throughout Egypt to allow the bank’s clients to access up to US$4,600 per day in direct transactions from their Russian bank accounts while in the country. The QR code system is supported by national satellite telecommunications networks and is Western financial sanctions proof.
The Russian and Algerian Foreign Ministers have met in Turkiye as both attended the Antalya Diplomacy Forum. Bilateral trade is currently running at about US$3 billion per annum, with targets made to reach US$10 billion by 2030.
The Russian and Indonesian Presidents and their respective economic development teams have met in Moscow. We deep dive the meetings that were held, with an onus on energy, bilateral trade growth and mutual investments. Indonesia has a population double that of Russia and an economy growing five times faster.
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The Russian and Indonesian Presidents are meeting in Moscow to discuss trade development, along with their respective economic and trade teams. Indonesia is a full member of BRICS, and has a Free Trade Agreement with the Eurasian Economic Union that entered into force last year. Bilateral trade is currently worth about US$4.7 billion.
The Russian Foreign Minister Sergey Lavrov has met with the Ambassadors of all of the ASEAN countries – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam, in Moscow. They discussed improving Russia’s multilateral trade with the bloc as well as developing relations between ASEAN and BRICS, the Eurasian Economic Union and Shanghai Cooperation Organisation.
Russia’s Rosatom has signed an MoU with South Africa’s Nuclear Energy Corporation as regards expanding the generation capacity of its Koeberg NPP and look at developing additional NPP without the country. South Africa has the only NPP in the African continent yet is suffering from blackouts and a lack of electricity,
The Iran conflict has cut off Europe from its normal Southeast Asian aviation routes, yet Russia has been able to call on regional members of the Commonwealth of Independent States, BRICS, and the Shanghai Cooperation Organisation, as well as its new Asian diplomatic strategy, to reroute flights to the east and use Eurasian connectivity to access Southeast Asian tourist destinations. This move could ultimately open up new transport hubs in Central Asia to service these markets in problems persist in the Middle East.
Russia’s Vladivostok-based Vladmorrybport has won permission to export Pollock to Brazil with the first shipment being prepared.
Sri Lanka has stated it is interested in joining the BRICS group as views it ‘as a platform to spur its economic growth.’
Neighbouring India is the 2026 BRICS chair and will host annual BRICS summit in late summer. It is possible Sri Lanka could be invited to become a partner nation.
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