SCO & BRICS latest news and insights
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 Since the start of the heating season, over 41 billion cubic meters of gas have been withdrawn from EU underground storage facilities.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...
By Rhod Mackenzie
India has started buying Russian Sokol again oil after a two-month break according to a Reuters report.
At least two Indian oil refineries received supplies of light sweet crude from Russia in February, agency sources said. Among the companies that have acquired Sokol is India...
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...
According to a Russian Chamber of Commerce and Industry report new car brands, including those from Iran and India, may soon enter the Russian market. African producers have also expressed interest, but China remains the dominant player. This article questions whether these new brands can compete wi...
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 Rhod Mackenzie
The Mir card, CNAPS, and CIPS are financial messaging systems used for national domestic and cross-border interbank payments in Russia, China, and Iran respectively. These systems were seen as potential alternatives to the Western-dominated payment systems. However, this percepti...
