The BRICS association, which consists of Brazil, Russia, India, China and South Africa, is one of the most important international structures. As a counterpoint to the Western-dominated world order, it wants to create a more just, multipolar world. With its own currency, the group of states is now striving to change the US-dominated world financial […]
According to Vladimir Putin, Brazil, Russia, India, China and South Africa are working on a new reserve currency based on a basket of the participating countries’ national currencies. This currency could represent an alternative to the International Monetary Fund’s (IMF) Special Drawing Right (SDR). Russian President Vladimir Putin said on Wednesday that the BRICS countries […]
Tehran wants to further promote trade relations between the member states of the Shanghai Cooperation Organization. Iran only joined the international organization as a full member last year. Iran’s Deputy Foreign Minister Mehdi Safari has said his country has proposed to members of the Shanghai Cooperation Organization (SCO) that a new single currency be used […]
May 12, 2022 2:04 p.m The ruble has become the best-performing currency in the world year-to-date, overtaking the Brazilian real in the rankings, according to a Bloomberg report. The reason for this is the controls on capital transactions imposed by the Russian central bank. Source: Gettyimages.ru © picture alliance Despite geopolitical uncertainty and high economic […]
13 Apr 2022 5:45 am Sri Lanka has declared a “preventive default” due to the crisis in imports of essential goods caused by a lack of foreign exchange. The Republic intends to use foreign exchange reserves to buy them instead of paying off debts. Sri Lanka is suspending payments on all foreign debt pending its […]
7 Apr 2022 8:29 am The southern regions of Ukraine have been under Russian control for weeks. Normality is now returning there and economic contacts with Crimea are being expanded. They used to form a single region with Crimea. The southern regions of Ukraine are slowly returning to their old geo-economic form – close cooperation […]
28 mar 2022 5:14 p.m As of today, it is clear that the energy and economy ministers of the G7 will refuse to pay for Russian gas supplies in rubles. The consequences are unclear. President Vladimir Putin announced last Wednesday that Russia would meet its contractual obligations in terms of volume and prices. The changes […]
28 mar 2022 06:15 am In order to become more independent of the US dollar and the western SWIFT system of the banks, the Russian central bank is forcing further gold purchases at a fixed rate. Last but not least, this could also increase the value of the ruble. The Central Bank of Russia has […]
24 mar 2022 8:42 p.m More and more governments around the world are becoming aware of cryptocurrencies. Some states are skeptical about them, while others are exploring ways to launch their own digital currencies. The central bank of the Republic of Honduras is now following this path. On March 23, the Central Bank of the […]