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 and Iran have completed the pairing of their national payment systems, which will allow travelers from the two countries to use their domestic debit cards for purchases in either Iran or Russia. Both countries are currently suspended from the SWIFT international payments system, with the non-SWIFT pairing of Russia and Iran significant as it […]
The Russian Central Bank has announced that the value of Russia’s gold holdings has surpassed US$200 billion for the first time, while bullion’s share in the country’s international reserves increased to 32.9%. Russia increased the value of its gold holdings by almost 4% last month, breaking the record set in the previous September. In the […]
Two new shipping lines are to open between Russia and Egypt for the transportation of refrigerated containers. Egypt’s Global Logistics, an agent of the Cairo forwarder Fox Shipping, will become the operator of two marine container lines: El Dekheila – Novorossiysk and El Dekheila – St. Petersburg. El Edkhelia is the main port of Alexandria […]
JSC TVEL, the management company of Rosatom’s nuclear fuel division, has signed a memorandum of cooperation with South Africa’s AllWeld Nuclear. The companies plan to work together in the decommissioning and management of radioactive waste in South Africa. The country has two nuclear power reactors, both located at the Koeberg Nuclear Power Station. The reactors […]
Part Three – The United States and BRICS With Donald Trump about to become the 47th President of the United States, we look at the various issues his presidency is likely to impact Russia, including Ukraine, sanctions, security, tariffs, trade, and BRICS. In Part Three, we look at the implications for the United States’ likely […]
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The Russian President, Vladimir Putin has welcomed 28 new Foreign Ambassadors to Moscow and delivered a keynote speech to them collectively. The new Ambassadors are the highest diplomatic representatives of the following countries: Europe Genc Pecani (Albania), Alexander Rogozhnik (Belarus), Michel Gerebtzoff (Belgium), Ivan Orlic (Bosnia and Herzegovina), Jesper Var (Denmark), Marja Elina Liivala (Finland), […]
As everyone knows, the United States is currently holding its Presidential elections, with the voting population evenly split. No one seems able to make a prediction. Analysts are unable to analyse, some fearful of ‘getting it wrong’ – with political repercussions to follow – and therefore building in a closer contest in polls. National newspapers, […]
Russia’s Binnopharm Group, owned by AFK Sistema, and members of a Sri Lankan delegation have been discussing options for interaction and international cooperation in the pharmaceutical sector. Binnopham produces around 300 pharmaceutical products and is a major antibiotics producer in Russia. Approximately 35% of its medicines are produced in a full cycle from the company’s […]
The Russian Ambassador to Iraq, Elbrus Kutrashev, has stated that the Iraqi government is interested in BRICS, but it is too early at present to talk about the country becoming a member. Speaking to Izvestia, he said “Russia is in fashion among Iraqis now. There are many who want to visit Russia for tourism or […]
Russia has received the right to export livestock products to Cuba, in moves that should provide a boom for Russian exporters operating in this sector. The Russian Federal Service for Veterinary and Phytosanitary Surveillance (Rosselkhoznadzor) has been looking at developing foreign markets, and an audit of the Russian system for control and oversight of animal-origin […]
Russia has the potential to export more than US$210 million worth of agricultural products to Thailand per year by 2030, according to Dmitry Krasnov, the head of the Russian Ministry of Agriculture’s Agroexport Center. He was speaking at a business mission by Russian exporters to Thailand on Tuesday (October 28). Krasnov said that “At present, […]
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