The “perfect-storm” of geopolitical instability, diplomatic isolation, severe currency depreciation, and economic decline now confronting Russia has profoundly damaged Moscow’s international standing, and possibly for the long-term.
Yet, it is precisely such conditions that may push the country’s leadership into … Read the rest
Russia signed a historic $20 billion oil deal with Iran to bypass both western sanctions and the dollar based western monetary system yesterday.
Currency wars are set to escalate as the petro dollar’s decline continues.
Russian Energy Minister Alexander Novak … Read the rest
Before the crucial visit to Beijing next week, the governor of the Russian Central Bank, Elvira Nabiullina met Vladimir Putin to report on the progress of the upcoming ruble-yuan swap deal with the People’s Bank of China and the Kremlin … Read the rest
President Jacob Zuma denied on Thursday being responsible for the sharp decline in the value of the rand.
Responding to the Presidency Budget Vote debate, Zuma roasted opposition parties for linking his news briefing more than two weeks ago on … Read the rest
New Zealand—Seeking to help its exporters, New Zealand is negotiating with China to make their currencies directly convertible, a spokeswoman for Prime Minister John Key said.
Most of New Zealand’s exports to China are agricultural products—particularly milk powder, meat and … Read the rest