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.
Russia’s nuclear energy state corporation, Rosatom, has won a Brazilian tender to provide conversion and enrichment services for domestically produced uranium, according to the companies press service, which stated the contract signed by Rosatom with the Brazilian state company Industrias Nucleares do Brasil (INB) is “worth around US$40 million.” It is expected that Brazilian uranium […]
The Russian Foreign Minister, Sergey Lavrov has been in Tehran holding talks with his Iranian counterpart, Abbas Araghchi, as well as with the Iranian President, Masoud Pezeshkian. Much of these discussions revolve around resolving bottlenecks at the Rasht-Astara railway route, which is part of the INSTC network between Russia and the Middle East. Construction work […]
The Russian Foreign Minister, Sergey Lavrov was in South Africa last week attending the G20 Foreign Ministers meetings. During that event, he met with Ronald Lamola, the South African Foreign Minister. The two underscored the need for closer foreign policy coordination at the United Nations as well as the G20 and BRICS, highlighting the significance […]
A new logistics line for commercial transportation, dubbed the “Thai Express” will connect Russia’s Novorossiysk Port to Bangkok. It has been created by A7 Holdings and Novostal-M, with the first ships of the Thai Express to commence service from July this year. Delivery will take at least 30 days. In addition, the cargo turnover from […]
The Belarusian Deputy Economy Minister Alesya Abramenko has said that bilateral trade in goods and services between Russia and Belarus reached US$57.6 billion, achieving a growth rate of 107.4% in 2024. Abramenko was speaking at a meeting of the interdepartmental working meeting of the Belarusian Economy Ministry and the Russian Economic Development Ministry. She added […]
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A senior delegation from Russia’s Federation Council, led by its chairperson Valentina Matviyenko, is on a three-day trip to Ethiopia where they have held talks with Ethiopian Prime Minister Abiy Ahmed Ali. Among the Federation Council delegation is a high-ranking team that includes Maxim Reshetnikov, Russia’s Minister of Economic Development; Mikhail Murashko, Minister of Health; […]
Russia is discussing LNG supplies and development investments with Indonesia and Malaysia, according to Roman Marshavin, Russia’s Deputy Energy Minister. Indonesia and Malaysia have Asia’s largest liquefied natural gas capacity, with the latter ranking fifth worldwide in exporting LNG in 2023. However, their capacity is underutilized, and both countries are experiencing depletion of their resource […]
A Russian agricultural trade delegation, lead by Deputy Prime Minister Alexei Overchuk, and Deputy Agriculture Minister Maxim Borovoi has been in Tehran discussing a variety of agricultural trade and supply chain issues with Iran. The two parties discussed expanding the distribution channels for Russian agricultural products and food, including meat, confectionery and beverages on Tuesday […]
Russia and India have agreed a new defence logistics deal that aims to enhance coordination in exercises, disaster relief, and other joint operations, the Russian Ministry of Defence has announced. The Reciprocal Exchange of Logistics Agreement (RELOS) was signed following a meeting between Russian Deputy Defense Minister Colonel-General Alexander Fomin and India’s ambassador to Russia, […]
The Russian Navy has sent some of its Pacific Fleet ships to the Indonesian island of Bali to participate in the international exercise Komodo-2025. The Russian ships travelled more than 6,000 nautical miles, conducted a number of exercises and visited the Chinese Far Eastern port of Qingdao. As part of the exercises, the sailors of […]
Etihad Airways are to launch direct flights between Abu Dhabi, one of the UAE Emirates, and Sochi, on Russia’s Black Sea coast, from May 29. Flights will be operated on Airbus A320 three times a week. The new route will improve transport accessibility between Russia and the UAE and is aimed partially at Emirati citizens […]
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