Finance

BRICS, Russia and Turkiye:  2024 Developments and Implications

BRICS, Economy, Finance, Infrastructure, Investment, Trade

Vladimir Putin has met with Recep Tayyip Erdogan, the President of Turkiye at the BRICS Summit in Kazan. This is what they had to say: Putin: “Once again, I would like to welcome everyone to Kazan and to repeat how much I appreciate it that you have accepted the invitation to attend the BRICS Plus/Outreach […]

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BRICS and the New Development Bank: 2024 Progress Report and Potential Expansion

BRICS, Economy, Finance, Infrastructure, Investment

The Russian President, Vladimir Putin, has met with the President of the BRICS New Development Bank (NDB), Dilma Rousseff. The NDB acts as a BRICS development platform and invests in infrastructure projects, often in the green sector, in BRICS nations. Equity investors include Algeria, Bangladesh, Brazil, China, Egypt, India, Russia, South Africa, United Arab Emirates,

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China Vietnam Banknotes

Chinese and Vietnamese Banks Interested In Opening Branches In Russia

China, Finance, Trade

Chinese and Vietnamese banks are interested in expanding into and opening branches in Russia, according to Anatoly Aksakov, the Chairman of the State Duma’s Financial Market Committee. Aksakov is also the head of the Association of Banks of Russia’s council. He said “Several credit organizations from China, not the top tier or largest ones, are

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Russia Proposes Intra-BRICS Grain Trading Platform

Agriculture, BRICS, Finance, Trade

Russia is suggesting to fellow BRICS countries that the organisation establishes a grain exchange system, a proposal that would give Moscow greater control over international prices for its agricultural exports. Frustrated by low global wheat prices, Russia, the world’s largest wheat exporter, has attempted to limit exports at low prices through international intermediaries. Moscow recommended

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BRICS Pay Card

BRICS Pay Launches, Will Be A Global Payments Game Changer 

BRICS, Economy, Finance, Trade

The BRICS Pay system has been launched, with immediate implications for the future role of the US dollar, and the use of financial sanctions upon other countries. The system bypasses the US controlled SWIFT payments system, disregards the US dollar as a preferred currency and allows instant settlement in sovereign currencies instead.  It is likely

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GDP Growth

Putin – 2025 Economic Growth to be in Russia, China, India and Saudi Arabia

Africa, China, Economy, Finance, India, Trade

Russian President Vladimir Putin has forecast that the economies of Russia, China, India, and Saudi Arabia will show strong positive growth over the coming years, while it will also be advanced in Africa and Southeast Asia. Speaking at a BRICS media event, he stated “Growth, positive growth will be in such strong countries as China,

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SCO-USD

Calls For Shanghai Cooperation Organisation Independent Payments Mechanism: Implications For BRICS, SWIFT, US Dollar, Euro and British Pound

BRICS, Economy, Finance, Infrastructure, Shanghai Cooperation Organisation, Trade

Readers will be familiar with discussions amongst the BRICS countries to establish a SWIFT alternative payments and settlements platform, however the concept is now spreading. Russia is calling for the removal of obstacles to the implementation of plans to increase the share of national currencies in mutual settlements between the Shanghai Cooperation Organization (SCO) countries

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New Market Exit Terms For ‘Unfriendly’ Investors In Russia

Economy, Finance

The Russian Ministry of Finance has introduced significant changes to the market exit conditions of Russian based assets owned by individuals or entities from so-called “unfriendly” states or companies controlled by them. These are as follows: The above requirements are applicable both to new petitions for obtaining the permission of Government Commission for Control over

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