BRICS’ new payment platforms, which offer alternatives to the U.S. dollar and euro, are attracting global attention, according to Russian Foreign Minister Sergey Lavrov. These systems enable countries to conduct economic activities without relying on currencies used as political tools by Western powers. The Russian official noted increasing interest in these platforms as a way…
Jan Nieuwenhuijs, a gold market analyst, claims that Saudi Arabia has been covertly buying gold since 2022, trying to get its hands on physical gold due to its neutral and sanction-proof traits. According to his figures, 160 tonnes have been acquired without disclosure, likely to avoid upsetting the U.S. government for these actions. Analyst Alleges…
Bandar Alkhorayef, Saudi Minister of Industry and Mineral Resources, stated that while the petroyuan – the use of the Chinese currency to settle oil shipments – was not “substantial to the ministry,” the country was open to new ideas, trying not to mix politics and commerce. This hints at the yuan’s adoption for this purpose….
Russian President Vladimir Putin revealed that 34 countries have shown interest in joining BRICS activities, highlighting the global appeal of the group. He detailed Russia’s role in facilitating the integration of new members, sharing updates on BRICS activities under Russia’s chairmanship. 34 Countries Show Interest in BRICS, Putin Says Russian President Vladimir Putin said on…
Saudi Arabia’s leading national shipping company, Bahri, has inked a $1 billion deal to purchase nine advanced oil tankers from Capital Maritime and Trading Corporation (CMTC)s headquartered in Greece. The $1 billion deal allows Bahri to acquire nine Very Large Crude Carriers (VLCCs) from CMTC. Bahri will replace the new vessels with its aging carriers,…