SCO & BRICS latest news and insights
By Rhod Mackenzie
The authorities are considering how to respond to the European Union's plans to confiscate Russian assets. The Federation Council has proposed to the Ministry of Finance that a mechanism be developed to withdraw funds of foreigners blocked in the Russian Federation, according to...
By Rhod Mackenzie
After the EU banned imports of oil and petroleum products from Russia, it was India, not the United States, that became Europe's main petrol station. By refining Russian oil, it has become the main supplier of petroleum products. India's annual revenues from supplies to the EU ha...
By Rhod Mackenzie
As of mid-February, gas reserves in European underground storage facilities (UGS) are at a record level, but remain below 66%. Since the start of the heating season, over 41 billion cubic meters of gas have been withdrawn from EU underground storage facilities.
On February 14t...
In 2023, Russia supplied hydrocarbons to the European Union that were not subject to sanctions.The countries of the EU purchased Russian oil, petroleum products, and gas worth over €29 billion.
In 2023, the trade turnover between EU countries and Russia decreased by 2.9 times in value compared to...
By Rhod Mackenzie
The year 2023 proved to be challenging for the Russian gas industry due to the loss of a significant portion of the European market, falling prices, and a subsequent reduction in production volumes, export profits, and gas industry revenues. In 2024, the industry is expected to f...
By Emil Boev
The Bretton Woods system was created in 1944 and gave the American dollar an unprecedented role as the world's reserve currency. It also established a fixed exchange rate between the dollar and gold, with approximately one gram of gold per dollar. Individuals were able to exchange pap...
