Sign in for registered users
In the past several weeks ahead of the BRICS summit in Brazil a number of initiatives were unveiled by representatives of the BRICS economies. One of the more significant discussions centered on the expansion in the membership of the New Development Bank (NDB). According to the Deputy Finance ...
New Development Bank and the Reserve Currency Pool Many observers see the establishment of the New Development Bank (NDB) and the Reserve Currency Pool as a BRICS-led challenge to the International Monetary Fund and the World Bank, while the emergence of new financial stabilization mechanisms and development institutions appears to augment and strengthen rather than threaten the existing monetary and credit ...
At the 7 th BRICS Summit held on July 8-9, 2015 in the Russian city of Ufa, the leaders of the BRICS member states came together and signed several joint agreements including the ‘Ufa Declaration’, the ‘Ufa Action Plan’, the ‘Strategy ...
... mutual settlements was supported by the BRIC countries at its first summit in Yekaterinburg back in 2009. However, abandoning the U.S. dollar in mutual settlements is not an easy task. Currently, the transition to payments in national currencies between BRICS countries is poorly implemented. The BRICS Bank intends to carry out operations in U.S. dollars. Right now, payments in national currencies only apply to bilateral trade in energy products between Russia and China. At the same time, however, the sanctions levied against Russia have accelerated ...
During the sixth BRICS summit last week in Fortaleza, Brazil, the five BRICS countries agreed, as expected, to form both a development bank (named the New Development Bank) and a Contingency Reserve Arrangement (CRA). The agreements aim to minimize the role of traditional ...
| U.S. wants to establish partnership relations with Russia on condition that it meets the U.S. requirements |
|
| U.S. wants to deter Russia’s military and political activity |
|
| U.S. wants to dissolve Russia |
|
| U.S. wants to establish alliance relations with Russia under the US conditions to rival China |
|
