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.
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 […]
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, […]
Subscribe to receive exclusive insights and analysis on BRICS.
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 […]
Russia is increasing liquefied natural gas production and exports despite sanctions and could expand shipments to India, First Deputy Energy Minister Pavel Sorokin has said. He was speaking at the India Energy Week in New Delhi, and said that India, already the largest buyer of Russian crude oil, could also become a major market for […]
Russian Foreign Minister Sergei Lavrov will head the national delegation to the meeting of G20 Foreign Ministers in South Africa next week, according to Russian Foreign Ministry spokesperson Maria Zakharova, who said “The first meeting of the G20 foreign ministers to be hosted by our friends and like-minded associates from South Africa in their presidency […]
Russia exported over 1.2 million tonnes of agricultural products to the United Arab Emirates (UAE) in 2024, up 40% compared to the previous year, according to Russia’s Agroexport Centre. The top five agricultural products included wheat, which accounted for 71%, barley at 17%, peas at 4%, dried lentils at 2% and chickpeas at around 1%. […]
India’s Minister of Defence, Rajnath Singh has described Russia as a “longtime and reliable partner” in the security and defence sector. Speaking on the sidelines of the Aero India show that is currently underway in Bangalore, Singh highlighted the strong ties between the two countries, noting that Indian state-owned defence companies are now producing Russian […]
Русский
