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BRICs Summit In Ufa To Unite Members For Development, Security
“The upcoming BRICs and the Shanghai Cooperation Organization (SCO) summits would unite countries for development, peace and security of the region and world, visiting Chinese Foreign Minister Wang Yi said here [Moscow] Wednesday,” Xinhuanet reports. During the meeting in Moscow with Sergei Lavrov, Russian FM, Mr Wang expressed his full support for the two summits … Continue reading
Russia Proposes BRICs Alternative To SWIFT Global Payment System
Russia is proposing an alternate to the SWIFT global interbank payment system for the BRICs (Brazil, Russia, India, China, South Africa) grouping of emerging market nations in a move which would further ramp up de-dollarization efforts and threaten the U.S. dollar’s global hegemony. The Central Bank of Russia (CBR) has called for a discussion with its peers on establishing … Continue reading
Ruble-Yuan Settlements Booming, Set To Reshape Global Finance, Experts Say
Settlements in local currencies between Russia and China now account for 7 percent of the bilateral trade, but the potential for growth is tremendous, experts tell RT. Yuan-ruble trade in Russia has grown 700 percent in a year. Growing cooperation between Russia and China has become one of the hottest topics in the global economy. … Continue reading
Russia, China Sign Raft Of Deals And Will Integrate The Eurasian Economic Union, New Silk Road
Russian President Vladimir Putin and Chinese President Xi Jinping on Friday signed a decree for cooperation in tying the development of the Eurasian Economic Union (EEU) with the New Silk Road economic project. Russia and China also signed a number of energy, trade, and finance deals on Friday, which are aimed at strengthening economic ties between the two nations. … Continue reading
Highlights From Russian President Vladimir Putin’s 13th Annual ‘Direct Line’ Q&A
Russian President Vladimir Putin answered a total of 90 questions on Thursday during his annual televised question and answer (Q&A) session, officially known as “The Direct Line with Vladimir Putin,” which lasted for 3 hours and 55 minutes, falling around 50 minutes short of his previous record. Here are some of the highlights of President Putin’s 13th annual Q&A … Continue reading
Russia, India Move Closer To Agreement On Settlements In National Currencies
The Central Bank of Russia and The Central Bank of India are moving closer to an agreement to use their national currencies for trade settlements, according to a statement released by Russia’s Central Bank on Friday. The National Banks of Russia and India said they did not see any regulatory restrictions in making settlements in rubles and rupees on … Continue reading
Russia, Indonesia May Switch To National Currencies In Bilateral Trade
Russia has proposed to Indonesia to use their national currencies for trade settlements, said Denis Manturov, Russia’s Minister of Industry and Trade, Russian media reports, just days after Russian Prime Minister Dmitry Medvedev made the same offer to Vietnam. “We [Russia] expect active support in the transition to the use of national currencies in our trade relations with [a number of countries] and Indonesia, too,” … Continue reading
Russia To Propose Using National Currencies With Vietnam For Mutual Settlements, PM Says
Russia will propose to Vietnam the use of their national currencies for mutual settlements, primarily in trade and investment, Russian Prime Minister Dmitry Medvedev said during an interview with Vietnam’s national radio broadcaster Voice of Vietnam on Sunday. According to the Russian PM, Russia and Vietnam could easily make the switch to their national currencies – the … Continue reading
More De-Dollarization: Turkey Looks To Settle Payments With Russia In Local Currencies
Turkey’s Ministry of Economy is considering a move to settle payments with Russia by using local currencies for major investment deals, Russia’s TASS news agency reports. “We would like payments in rubles and lira to be introduced at least for the larger investment projects in Russia and Turkey,” Turkey’s Deputy Economy Minister Adnan Yyldyrm, said during a joint … Continue reading
In Eurasia, Devaluation Is First Line Of Defence
By Chris Weafer, Macro Advisory Russia is not the only economy suffering from the combination of the oil price collapse and sanctions; most of the countries in the Commonwealth of Independent States (CIS) are also feeling the pain. For some it is because they have also waited far too long to start diversifying away from … Continue reading
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