Russia and China’s friendship takes an interesting turn
BRICS nations, specifically China and Russia, are actively forming new alliances to champion a multipolar world, a move set to reshape the global financial system currently under heavy US influence. This collaboration was highlighted during a meeting between Russia’s Foreign Minister Sergey Lavrov and Chinese President Xi Jinping, where they discussed strategies to propel this […]
U.S. claims Russia is using Tether to evade sanctions – Uh…
Kicking things off with a no-nonsense alert, the U.S. Treasury’s Wally Adeyemo has sounded the alarm loud and clear. Apparently, Russia’s been getting reeeaaally cozy with the cryptocurrency industry to dodge sanctions. And not just any crypto – I’m talking Tether, the stablecoin that’s as steady as a rock. A personal favorite. This move is […]
Russian nationals transacted $51 billion on exchanges in 2023
The Bank of Russia has released its latest report showing the activities of Russian nationals in the crypto market in 2023. According to the report, the bank noted that transactions in excess of $51 billion (4.7 trillion rubles) were carried out on the exchanges. The report also found that most of the transactions involved either […]
Why is Russia so obsessed with the Chinese yuan? – Does it even make sense?
Ever wondered why Russia seems to be head over heels for the Chinese yuan? Well, pull up a chair, because we’re diving deep into this fixation. Let’s be clear from the start: Russia’s enthusiasm for the yuan isn’t a fleeting crush; it’s a strategic move born out of necessity and a touch of desperation. The […]
Russia Plans to Enter PC Gaming Handheld Market
Russian President Vladimir Putin has approved plans to enter Russia into the PC gaming handheld market, which has had very good development and was started by the units, for example, Steam Deck. Putin’s directive sparks interest At a recent session presided over by President Putin on the social-economic advancement of the Kaliningrad region, the meeting’s […]
Did Putin just point fingers at crypto for the terrorist attack?
The aftermath of a terrorist attack is never easy. Least of all when it happens on the global stage with accusations flying faster than I can report them. Recently, Moscow found itself the target of such an attack, leading to a complex web of blame, international intrigue, and a recent notable nod towards cryptocurrency’s role […]
Crypto firms linked to Russia face US sanctions for evasion
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently announced sanctions against 13 entities and two individuals. These sanctions target those aiding the potential evasion of sanctions on behalf of Russian nationals through cryptocurrency-related services. OFAC’s statement emphasized the role of these entities and individuals in facilitating transactions to assist other […]
Russian crypto mining sector moves towards legalization
Russian cryptocurrency industry leaders and business executives have collaborated to draft a bill aimed at legalizing crypto mining in the country. Alexander Brazhnikov, Executive Director of the Russian Association of Cryptocurrency and Blockchain (RACIB), revealed the initiative at a cryptocurrency event on March 22, according to ComNews. However, the draft seeks to formalize the framework […]
Why is the U.S. monitoring Russia’s crypto activities closely?
Keeping tabs on the world’s digital financial shenanigans, the U.S. has cranked up its vigilance, especially when it comes to Russia’s crypto antics. This isn’t about having a casual peek over the fence; it’s about zeroing in on a sophisticated digital battlefield where currencies like Bitcoin and Tether become the weapons of choice for under-the-radar […]
Russia continues push for digital currency adoption
Russia is making major moves in the adoption of digital currency, specifically targeting the integration of the Digital Ruble into its financial ecosystem with enhanced anti-money laundering (AML) controls. This initiative is marked by the introduction of a legislative bill by a cohort of Russian lawmakers, with Anatoly Aksakov, the chair of the State Duma […]
Russia witnesses surge in corporate bankruptcies in early 2024: Report
Russian businesses are facing increasing financial distress, with a notable rise in bankruptcy filings reported in the early months of 2024. The Russian business daily Kommersant reported a significant uptick in these cases, citing data from the federal register for bankruptcy. In January alone, the number of companies declaring bankruptcy climbed to 571, a 57% […]
Iran and Russia Join Forces in AI Ethics and Development
Discover how Iran and Russia are joining forces to pioneer ethical AI development, blending Islamic ethics with cutting-edge technology.
Financial watchdog FATF reduces Russia’s rating over digital asset control deficiencies
The Financial Action Task Force (FATF) has recently adjusted Russia’s compliance rating to “partially compliant” in terms of its ability to monitor and combat suspicious transactions involving virtual assets. Reason for Russia’s downgrade Reports from RBC indicate that this downgrade is primarily due to shortcomings in Russia’s 2020 “On Digital Financial Assets” legislation. The law […]
Russia dabbles in digital assets pre-BRICS currency launch
BRICS’ Russia has made the conscious decision to dabble into the digital finance scene. Forget about buying your next vodka online with Bitcoin. This is bigger. I’m talking about a grand scheme to shake up the global economy, with the country testing the waters of digital asset payment technology. And the big plan? To lay […]
BRICS nations explore creation of new currency unit to counter US Dollar dominance
The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, is reportedly exploring the development of an alternative currency. This initiative aims to reduce the bloc’s dependency on the US dollar and promote the use of local currencies in international trade. With an eye on the future, the alliance also encourages other developing nations […]
Breaking down major components of US-Russia sanctions
The United States just rolled out a hefty bundle of sanctions against Russia. I’m talking a full-on smackdown in response to some pretty heavy stuff, including the sad case of opposition leader Alexei Navalny’s death and the ongoing Ukraine invasion saga. This time around, over 500 people and entities are feeling the heat. The US […]
The surprising surge of crypto in Russia – What’s driving it?
Cryptocurrency usage is reportedly on the rise in Russia, with a significant uptick in the number of citizens engaging in Bitcoin and other digital token transactions. According to local media outlet Coinspot, Evgeny Kogan, Professor of Economic Sciences at the National Research University Higher School of Economics (HSE), revealed that the interest in cryptocurrencies has […]
BRICS set to crush G7 with jaw-dropping surge in millionaire count—here’s why
The BRICS alliance—comprising Brazil, Russia, India, China, and South Africa—is expected to experience a surge in the number of millionaires over the next decade. According to a comprehensive report by Henley and Partners, these nations are poised for an 85% increase in their millionaire count, significantly outpacing the projected growth in the Group of Seven […]
Russia witnesses alarming rise in crypto-related fraud
In a revealing report from the Central Bank of Russia, a significant shift in the landscape of fraudulent financial schemes has been highlighted, with cryptocurrency emerging as the primary tool for illicit activities. The report underscores a worrying trend in 2023, where nearly all pyramid schemes and illegal brokerages have leveraged cryptocurrencies to facilitate their […]
Breaking down Vladimir Putin’s entire interview with Carlson
The whole world watched as Tucker Carlson sat down for what can only be described as an exhilarating conversation with the riveting Vladimir Putin, with some watching with anxious anticipation and others in complete shock. The scene was set for something like a TED talk with a healthy dose of geopolitical posturing, rather than a clash. […]
20 countries ditch dollar for Russian payment network
In an audacious move reverberating through the corridors of global finance, twenty nations have boldly aligned with Russia’s System for Transmitting Financial Messages (SPFS), turning their backs on the US dollar. This seismic shift underscores a growing discontent with the traditional Western-centric financial systems and illuminates a path toward a new economic alliance spearheaded by […]
Russia’s 85% trade pivot away from the US dollar
With a bold strategic maneuver, Russia, a prominent BRICS member, has dramatically shifted 85% of its trade transactions with fellow BRICS nations to its local currency, the Russian Ruble, as of January 2024. This significant move marks a conscious effort by Russia to sidestep the US dollar, particularly in the wake of US sanctions, indicating […]
BRICS dominance surges with 47% of world’s oil – Where does the U.S. stand?
The BRICS bloc, comprising Brazil, Russia, India, China, and South Africa, has emerged as a significant player in the global oil market. Recent developments suggest that BRICS countries collectively control a substantial portion of the world’s oil supply. As of the latest data, BRICS nations hold sway over 47% of the global oil market, underscoring […]
Russia makes ditching the US dollar a top priority in 2024 – What a star-studded meeting!!
In keeping with the prevailing theme that guided the BRICS alliance during the previous year, Russia has declared that the elimination of the US Dollar will be its foremost objective in 2024. In fact, the nation is poised to assume the group’s chairmanship this year. Following that, the present state of the global economic order’s […]
India and Russia to build their very own digital economy
Strap in folks, because India and Russia are upping the ante in the global digital chess game. They’re not just playing around; they’re strategizing to carve out their very own niche in the digital economy. This isn’t just another diplomatic handshake; it’s a power move in the tech world. Digital Power Play Let’s cut to […]
Intriguing alliances: Russia’s plans with North Korea
The geopolitical chessboard is getting more intricate as Russia plans its next move, aligning with North Korea. The recent developments have set tongues wagging about Russian President Vladimir Putin’s impending visit to Pyongyang. This marks a significant diplomatic stride since it would be the first Russian presidential visit to North Korea in over two decades. […]
Russian businesses swap dollars for yuan in record numbers
The tides of international finance are shifting dramatically, with Russia at the helm of a significant change. In a bold move, Russian businesses have increasingly been exchanging their U.S. dollars for Chinese yuan, a trend that not only underscores the growing economic synergy between Russia and China but also highlights the geopolitical undercurrents reshaping global […]
Why is Europe preparing for Donald Trump’s return?
The political landscape of Europe is bracing itself for a potential seismic shift with the looming possibility of Donald Trump’s return to the White House. This prospect, far from being a distant political rumble, is reshaping Europe’s strategic and economic planning. There’s an air of urgency, a sense of gearing up for a challenge that […]
Russia, India planning something that would shake the world
Amidst a dynamic global landscape, two major powers, Russia and India, are reportedly brewing a strategic concoction that could redefine world economics and geopolitics. This development comes as the leaders of these influential nations held an extensive telephonic discussion, navigating a plethora of strategic partnerships and future initiatives. The talk, characterized by its depth and […]
Trio of nations unite to kill dollar with BRICS currency
The global financial landscape is poised for a monumental shift as three powerhouse nations within the BRICS alliance gear up to launch a new currency, potentially dethroning the US dollar from its long-held pedestal of dominance. This bold move by Brazil, Russia, and South Africa, three of the five founding nations of BRICS, is not […]
Russia announces 30 new member countries for BRICS
The geopolitical landscape is witnessing a seismic shift as Russia declares that 30 additional countries are poised to join the BRICS alliance, potentially expanding its membership to a formidable 40 nations. This move, championed by Russia’s President Vladimir Putin, marks a pivotal moment in the global balance of power, challenging the longstanding economic dominion of […]
What Russia’s central bank tells us about the country’s economy
2024 marks a pivotal year for global finance, particularly regarding Russia’s central bank reserves. A striking development is the increasing likelihood that the western sanctioning coalition may seize these reserves, initially frozen during the onset of Vladimir Putin’s aggressive campaign in Ukraine. The notion is to redirect these funds to Ukraine, holding Moscow accountable for […]
Russia’s BRICS surprise: Expansion plans set a new global agenda
Russia, under the leadership of President Vladimir Putin, has announced plans for a significant expansion of the BRICS alliance. This development, which sees the induction of five new countries including Saudi Arabia, the United Arab Emirates, Egypt, Iran, and Ethiopia, signals a major shift in global power dynamics. This expansion contrasts sharply with Argentina’s rejection […]
Russia, Iran finally dump the US dollar for good
In a bold move that shakes the foundations of international trade, Russia and Iran have officially turned their backs on the US dollar. This decision, a strategic pivot towards utilizing local currencies in their bilateral trade, marks a significant shift in the global economic landscape. The move not only challenges the dollar’s dominance but also […]
Why is Russia preparing for more sanctions ahead?
As the geopolitical landscape continues to evolve, Russia braces itself for a potential intensification of economic sanctions. This preparation is rooted in the current global political dynamics, with the Kremlin’s top financial strategists working diligently to mitigate the impact of these anticipated restrictions. The shadow of the Ukraine conflict looms large, as global powers respond […]
Russia plans to legalize cross-border crypto transactions by mid-2024
In a significant move towards embracing the cryptocurrency sector, Russia is making strides towards legalizing cross-border transactions involving cryptocurrencies, particularly Bitcoin (BTC). Anatoly Aksakov, Chairman of the State Duma Financial Market Committee, has revealed plans to enact crypto regulations by the second half of 2024. This development marks a pivotal step in recognizing the role […]
Does Russia even have a plan for interest rate cuts?
Russia’s central bank stands at an important crossroads, with the global financial community closely watching its next move regarding interest rates. Amidst a tumultuous economic climate, marked by persistent inflation and the aftermath of aggressive rate hikes, questions loom over the Bank of Russia’s strategy for the future. Will it embark on a path of […]
India, Russia ditch US dollar in $40 billion trade deal
In a striking move signaling a shift in global trade dynamics, India and Russia have once again boldly sidestepped the US dollar, conducting an impressive $40 billion worth of trade using their local currencies. This monumental trade volume, achieved within just three quarters of 2023, marks a historic high in the economic collaboration between these […]
BRICS 2.0 with the Middle East edition – 5 Arab nations ready to join the alliance
The BRICS alliance, consisting of Brazil, Russia, India, China, and South Africa, has fostered economic cooperation and shaped a multipolar world. As we stand on the cusp of a new era, the alliance is set to undergo a transformative expansion with the inclusion of five dynamic Arab nations, heralding the dawn of BRICS 2.0 with […]
EU escalates sanctions with new crypto restrictions on Russia
In a significant move aimed at escalating pressure on Russia over its military actions in Ukraine, the European Union has announced a new set of sanctions, marking the 12th package against Russia. This latest round of sanctions, detailed in a European Commission Q&A on December 18, specifically targets the crypto-asset sector, placing stringent restrictions on […]
