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Developing a SWIFT Alternative Digital Currency Global Trading System

Economy, Finance, Trade

As geopolitics reshape the contours of physical commerce, digital services remain one area where sovereign countries can engage between each other with relative freedom, during a period where certain nations around the world are erecting new politicized barriers, controlling, restricting, or sanctioning trade in goods like minerals, raw materials, food, through to services, semiconductors and […]

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EAEU and Iran Agree On Eurasian Agroexpress Project

China, Eurasian Economic Union, Trade

Developing Agricultural Express Routes Via EAEU, Iran, Middle East, India & China The Eurasian Economic Commission, the governing body for the Eurasian Economic Union (EAEU) held meetings with Iran in mid-March side to discuss the development of the Eurasian Agroexpress project. This is aimed at developing exports of agricultural products from Eurasian Economic Union member

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EAEU Trade in Sovereign Currencies Reaches 90% Of Total After Discontinuing US Dollar Use

Eurasian Economic Union, Finance, Trade

The share of national currencies in the Eurasian Economic Union (EAEU) trade currently amounts to 90%, according to Russian Prime Minister Mikhail Mishustin, speaking at the end of February this year. According to him, the percentage of use of domestic currencies is still growing. The EAEU, which is based on the Customs Union of Russia,

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Russia’s 2024 Economic Soft Landing

China, Economy, Trade

Russia’s economy continues to successfully battle through hardships while continuing to grow stronger, The Economist has reported on March 10, and has repeatedly “defied the doomsayers”. The publication added that Russia’s economic performance appears to be returning to pre-conflict levels despite numerous rounds of unprecedented sanctions imposed by the West over the past two years.

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China’s 2M 2024 Foreign Trade Grows Faster Than Expected On Bilateral Trade With Russia

BRICS, China, Trade

The Financial Times has reported that China’s foreign trade grew faster than expected in the first two months of 2024, driven partly by electronics and increased exports to emerging markets and Russia, with Beijing’s foreign minister touting “a new paradigm” in relations with Moscow. China’s total exports rose by 7.1% in January and February compared

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Russia’s Sberbank Made Record Annual Profits in 2023

Economy, Finance, Trade

Russia’s largest lender Sberbank made a record net profit of ₽1.5 trillion (US$16.3 billion) in 2023, as Russia’s financial sector recovers from western sanctions. Sberbank’s IFRS full-year results, published on February 28th 2024, showed a more than fivefold increase in profits on the previous year, primarily achieved through a high level of lending activity. It

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Russia Proposes US$1 Billion Asset Swaps with Western Investors

Finance, Trade

Russia’s finance ministry has set terms for a proposed swap of Russian and western investors’ frozen assets in each other’s jurisdictions, allowing each side to claw back value lost to sanctions. Moscow hopes the potential exchange, announced by the ministry on March 11, will unblock ₽100 billion (US$1.1 billion) in European securities, mostly owned by

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2024 Red Sea Shipping Problems See Russian Rail Transit Demand Increase 40% 

Logistics & Transport, Trade

The Financial Times has reported that demand to move goods from Asia to Europe by rail via Russia has soared since the start of the Red Sea crisis, according to logistics companies and rail operators, providing a boost to RZD, Russia’s state-owned rail monopoly. Germany’s DHL said requests to transport goods on the Russian rail

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Moscow Exchange Reports Record Transactional Activity by Private Investors in February

BRICS, Finance, Trade

Private investor activity on the Moscow Exchange (MOEX), Russia’s largest stock market, reached an all-time high in February 2024, according to the exchange. A total of 4.1 million individuals conducted transactions on the exchange last month. During this period, they invested 74.2 billion rubles (US$820 million), an 11% increase year-on-year. The vast majority of investments

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