Victoria Panova, who is head of BRICS Expert Council-Russia, tells Mustafizur Rahman about the philosophy and journey of the grouping in an interview with New Age New Age: Russia initiated BRIC initially as an alliance of Brazil, Russia, India and China, formed in 2006. South Africa joined the group later, making it BRICS. How do […]
As the curtain comes down on 2024, what does 2025 hold for developing countries in a troubled world that is transitioning to a multipolar system? This is not an easy question given that there are just too many moving political pieces, each having its influence on processes. In last week’s instalment, I mentioned the shift […]
The recent BRICS+ summit in Kazan, Russia, was attended by representatives from 32 countries, with 24 heads of state present. The summit was not only a major diplomatic event for Russia but also underscored a growing push by nations in the Global South to seek alternatives to Western-dominated institutions. The expansion of BRICS to BRICS+ […]
Russia is pushing for a major comeback in the global tech race, leaning on its BRICS+ partners to build a united front in artificial intelligence (AI) development. President Vladimir Putin, speaking at Moscow’s flagship AI , announced the formation of the AI Alliance Network. The initiative will connect national AI associations and development institutions from […]
Russia is in talks with other BRICS members about creating an international precious metals exchange to ensure fair pricing and trade growth, the country’s Finance Minister Anton Siluanov said in a statement. “The mechanism will include the creation of price indicators for metals, standards for the production and trade of bullion, and instruments for accrediting […]
The final meeting of BRICS Sherpas and Sous-Sherpas is taking place in Ekaterinburg on 27-28 November. Sergey Ryabkov, Russia’s Deputy Foreign Minister and a Sherpa in the association, emphasised that the group’s resilience has strengthened with its expansion. During the meeting, the Russian deputy foreign minister summarised the results of Russia’s BRICS chairmanship and thanked […]
For profits made from buying, selling, or trading digital currencies, the applicable tax rates are set at 13% for income up to 2.4 million rubles and at 15% for amounts over that limit. Russian President Vladimir Putin has signed a new law that officially recognizes digital currencies as a form of property in foreign trade […]
Serbia’s foreign policy under President Aleksandar Vučić aims to maintain neutrality, balancing relationships with the EU, Russia, China, and the U.S. Despite increasing economic ties with the EU, Vučić resists sanctions against Russia and keeps diplomatic channels open with Moscow, reflecting historical and strategic ties. Serbia’s decisions, like avoiding BRICS membership and choosing European alignment, showcase a pragmatic approach prioritizing economic benefits while navigating global political pressures. Vučić’s strategy contrasts with the openly pro-Russian stance of Republika Srpska’s leadership, highlighting diverse policies within the Balkan region.
The combined economic output of the BRICS+ countries is projected to surpass that of the G7 nations by 2045, according to a global economic forecast by the Economist Intelligence Unit (EIU), the research arm of The Economist Group. The forecast indicates a narrowing gap between these two economic blocs over the coming decades. In 2020, […]
At the forefront of the geoeconomic war of supply chains, economic corridors and trading routes is the dedollarisation movement spearheaded by the Brics collective. To begin with, what is dedollarisation? To understand this phenomenon, one needs to understand first its antonym – dollarisation. Dollarisationrepresents US dominance in global finances. It started in the 1920s when […]
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