Algeria has been granted membership in the BRICS New Development Bank (NDB), the bank president, Dilma Rousseff, and Algeria’s Finance Ministry have announced. The decision was made on Saturday (August 31) at the ninth annual meeting of the Board of Governors of the NDB in Cape Town, South Africa. The Algerian Finance Ministry said in […]
Two crypto exchanges are expected to be launched in Russia, one in Moscow and the other in St. Petersburg, with the aim of assisting foreign trade payments. While the operating mechanics are not yet specifically in place, Russian lawyers feel they will most likely be created in an experimental legal mode. To begin with, usage
Russian Crypto Exchanges & Stablecoins To Be Trialled To Support Foreign Trade Read More »
Belarus and China are to sign a Free Trade Agreement covering services and investment, Belarusian President Alexander Lukashenko said at a meeting with Chinese Premier Li Qiang in Minsk on Thursday (August 22). Lukashenko said that “Our two parties will sign documents formalizing plans for their future partnership in key areas. One of them is
Belarus and China to Sign Technology Investment and Services Free Trade Agreement Read More »
Some Chinese supplies to Russia are switching to third-party, rather than direct routes for sending goods to Russia due to difficulties with sanctions and logistics. Western governments have issued ‘stop’ notices on numerous products to Russia, including electronic and so-called ‘dual-use’ items, which if ignored can result in sanctions being imposed on Chinese suppliers themselves
China Suppliers Sending Russian Market Goods Via Third Party Countries Read More »
China’s main thrust into the potential of investing in Russia as part of its global Belt & Road Initiative (BRI) overseas investment and infrastructure plan essentially began in 2018, when the Chinese government published its “China-Russia Cooperation and Development Plan for the Russian Far East (2018-2024).” This is a programmatic policy document guiding cooperation between
India and Russia are exploring the idea of a benchmark Ruble-Rupee exchange rate to start direct trade using the two currencies, according to Indian media. Top regulators and bankers from both nations are seeking to overcome dollar trade barriers created by Western sanctions against Moscow, and to facilitate more Russian purchases of Indian goods. India
Russia and India Looking At Benchmark Ruble-Rupee Rate To Increase Bilateral Trade Read More »
Russia’s Investment Chamber (RIC) brokerage, which has been mandated to organize the exchange of frozen assets between Russian and non-resident investors, has announced the completion of settlements for the purchase of foreign securities. RIC commented that “Despite external sanctions pressure while bids were being accepted, RIC managed to sell to non-residents about a quarter of
Non-Russian Entities Buy Up Russia’s Frozen Foreign Securities Read More »
Moscow and Beijing are looking to a barter trade system to overcome the hesitancy of Chinese banks to run foul of US sanctions in conducting cross-border financial transactions with Russia. The moves, which are expected to be temporary, come as the two sides are trying to limit the transactional use of the SWIFT banking system.
Russia and China To Conduct First Barter Trade Deals In September / October Read More »
Russia just became the world’s largest crypto economy As we had predicted, Russia has adopted a law in the second and third readings that allows cross-border settlements and exchange trading in digital currency within the framework of experimental legal regimes (ELR) from September 1. Russian lawmakers also legalized cryptocurrency mining in Russia. The Central Bank
Mass Digital Ruble Usage Expected By July 2025 In an effort to intensify, speed up, and broaden the available tools used for settling international transactions, the Russian State Duma has passed, in its first reading, a bill that opens the way for the Bank of Russia to launch an experimental platform for the use of
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