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.
According to the Egypt Upstream Gateway, which operates on behalf of the Egyptian Petroleum and Mineral Resources Ministry, Russia’s Lukoil is interested in acquiring Egypt’s South Wadi El-Sahl block. A memorandum of understanding for the project is expected to be signed during the Egypt Energy Show (EGYPES), which takes place in Cairo on February 17-19. […]
Trade with the economies of Southeast Asia and Latin America already accounts for more than 70% of Russia’s export-import transactions, and the share of settlements in national currencies under foreign contracts with them is about 90%, according to Alexander Pankin, the Russian Deputy Foreign Minister. He emphasized that Moscow will continue to deepen cooperation with […]
The upcoming BRICS Congress will take place in June, where it is planned to approve the creation of a BRICS Agrarian Alliance, according to Lyudmila Orlova, the President of the Russian National Movement of Conservation Agriculture. Orlova stated that “We held a round table in December and have now agreed on holding a congress and […]
Russia has significantly increased its exports of petroleum products to Brazil, primarily diesel fuel, over the past two and a half years, and there is potential for further cooperation in this area, according to Alexei Labetsky, the Russian Ambassador to Brazil. Labetsky said that “Over the past two and a half years, the volume of […]
Russia’s Pivot To Asia have published our 2025 Guide to North Africa, which discusses Russia’s geopolitical, trade and investment trends with Algeria, Egypt, Libya, Morocco, Mauritania and Tunisia. North Africa is a key development region offering much potential for Russia as it transitions away from its colonial-era towards a more definitive North African and global […]
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Russia boosted exports of agricultural products 20% year-on-year to over $3 billion to Egypt in 2024, the Agriculture Ministry’s Agroexport center has said, citing preliminary expert estimates. The main export product was wheat, accounting for 84% of all deliveries. Sunflower oil at 13%, soybean oil at 2%, and dried lentils and chickpeas under 1% each […]
Russia’s supply chains are showing signs of adapting far more quickly than in the past, with one example being butter imports from Azerbaijan, Uruguay and Argentina this year, which have all increased, according to Russia’s Federal Service for Veterinary and Phytosanitary Surveillance (Rosselkhoznadzor). Azerbaijan delivered 940 tonnes of butter, four times the amount it did […]
Indonesia is keen in participating in the BRICS online platform initiative, Indonesian Culture Minister Fadli Zon has stated, in an interview marking the 75th anniversary of the establishment of diplomatic ties between Russia and Indonesia. In October 2024, Olga Lyubimova, the Russian Minister of Culture proposed creating a unified BRICS online platform to share films, […]
Russian President Vladimir Putin has signed an order to hold the InterVision Song Contest in 2025, establishing it as an alternative to Europe’s Eurovision. The event is scheduled to take place in Moscow this autumn. Eurovision, organized annually by the European Broadcasting Union (EBU) since the 1950s, has been subjected to controversary, accusations of prioritizing […]
Russia’s nuclear energy giant Rosatom has offered technology transfer to India for small modular reactors (SMR), as the country looks to boost nuclear energy generation. Rosatom is exploring the feasibility of setting up SMRs in the coastal areas of India, according to Indian media. Rosatom is currently developing India’s largest nuclear energy facility – the […]
In 2024, FESCO shipped more than 16,000 TEU between the Indian ports of Navasheva, Mundra and Novorossiysk via the FESCO Indian Line West (FIL-W) marine service, which is almost 7 times higher than last year. FESCO exported 7,000 TEU, and imported about 9,000 TEU. Currently, two container ships with a total cargo capacity of more […]
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