SCO & BRICS latest news and insights
The expanded BRICS, the association of major developing economies, could become a platform for a self-sufficient dollar-free grain market, economists say.
BRICS – which is an acronym for Brazil, Russia, India, China, and South Africa – added net grain importers Egypt, Ethiopia, Iran, Saudi Arabia,...
By Rhod Mackenzie
Argentine President Javier Milei has officially refused to join BRICS, an organisation that will be chaired by Russia in 2024. The new Argentine leadership has already taken a number of anti-Russian steps, declaring that it will develop relations with "liberal democracies". What...
By Chris Devonshire-Ellis
The BRICS Ambassador at large, Anil Sooklal, has stated that a further 20 countries, in addition to the recently proposed six new members invited earlier this year, have applied to join the BRICS group. When discussing South Africa’s current Presidency of the BRICS, he st...
By Rhod Mackenzie
According to a report in Kommersant, in the first two weeks of December Russian oil companies sharply increased seaborne exports of diesel fuel, which as a result they recovered to the level of 1 million barrels per day. This was made possible by the almost complete lifting of th...
By Rhod Mackenzie
The market paid little attention to the thirty-sixth OPEC+ oil producers club ministerial meeting held last Thursday. Although production cuts amounting to 2.2 million barrels per day were announced, oil prices rose briefly before slumping once again.
The production quotas for...
By Rhod Mackenzie
The new Argentinian authorities are presently undecided about whether to join the BRICS alliance of major non-Western countries.
BRICS remains open to aid developing economies and protect their interests. Wang Wenbin, the official representative of the Chinese Foreign Ministry,...
