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.
Saudi Arabia’s Economy and Planning Minister, Faisal bin Fadhil Al-Ibrahim, has said that Riyadh has not made the final decision to join BRICS and is still assessing its possible membership in the group, saying “The kingdom is always focusing on fostering more global dialogue.” He made the comments at the World Economic Forum in Davos, […]
The Russian President, Vladimir Putin, has been discussing the development of a natural gas pipeline from Russia to Iran, stating that while the project will be implemented despite some difficulties, it will go ahead. Putin was speaking following talks with Iranian President Masoud Pezeshkian in Moscow on Friday (January 17). Putin said that “Speaking of […]
Russia’s VTB bank plans to open a full-fledged subsidiary bank in Iran by the end of 2025, the bank’s President and Board Chairman Andrei Kostin has stated. VTB opened a representative office in Iran in 2023. Kostin said that “We plan to open a full-service bank by the end of this year. VTB will be […]
Nigeria has officially joined the BRICS economic bloc as its ninth partner state, according to the Brazilian Foreign Ministry, who made the announcement on Friday (January 17). Nigeria joins Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan in this category, which permits active participation but excludes voting rights. Partner status is seen as a […]
The Iranian Ambassador to Russia, Kazem Jalali, has said that during 2024, between 1.8 million and 2 million tonnes of cargo were transported along the eastern branch of the North-South international transport corridor, which leads to Iran through Kazakhstan and Turkmenistan. This is approximately three times more than in 2023. Two other branches of this […]
Subscribe to receive exclusive insights and analysis on BRICS.
President Vladimir Putin of Russia and President Masoud Pezeshkian of Iran have been holding talks at the Kremlin on Friday (January 17) and have signed a Comprehensive Strategic Partnership Treaty. According to officials from both counties, the document covers multiple areas, including defense, the fight against terrorism, the energy sector, finances, transport, industries, agriculture, culture, […]
The Russian Foreign Minister, Sergey Lavrov, gave an extensive media interview and Q&A session on Tuesday (January 14), at which many questions were asked. The full transcript, including comments about the United States, Ukraine, sanctions and so on, can be read here. In this article, we highlight the comments he made pertinent to our specific […]
Russia’s Pivot To Asia has published a new “2025 Guide to SAARC & BIMSTC” which details Russia’s trade, investment and geopolitical developments with both these South Asian trade blocs. SAARC includes Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. SAARC comprises 3% of the world’s land area, 21% of the world’s population and […]
Update: January 16Russia is willing to supply liquefied natural gas (LNG) and oil to Vietnam, as well as help develop its nuclear power sector as it seeks to expand energy cooperation, Russian Prime Minister Mikhail Mishustin has stated. Russia and Vietnam have also agreed to continue supporting oil and gas projects on each other’s continental […]
Uganda’s Foreign Minister, John Mulimba, has highlighted the transformative potential of BRICS membership as part of the countries development strategy. Uganda officially became a BRICS partner state on January 1. Speaking during an interview with China’s Xinhua News Agency, Mulimba stated during 2025, Uganda’s BRICS partnership would help unlock investment opportunities and deepen ties with […]
More than half of the countries across the world have declared a boycott of the US dollar, an analysis conducted by Russia’s Sputnik media has showed. In 2024, 14 more nations embarked on de-dollarisation, according to Sputnik’s analysis. 46 countries have switched to making transactions in national currencies, and 53 countries now openly oppose the […]
Русский
