Author: Steven Sahiounie

The share of the greenback in trade between the countries has dropped to a historic low, according to a Foreign Ministry official The de-dollarization of Russia-China trade is practically complete, according to Georgy Zinoviev, the director of the Russian Foreign Ministry’s First Asian Department, as cited by RIA Novosti. The official said the share of the US dollar in mutual settlements between the neighboring nations has substantially shrunk over the past two years. “The share of national currencies in Russian-Chinese payments is growing at an extremely rapid pace,” Zinoviev told the news agency. “At the beginning of 2022 it was hovering around…

The ruling wraps up a years-long legal battle waged by former YPF investors backed by the world’s largest litigation finance provider A US federal judge has entered a $16 billion judgment in favor of former shareholders of energy company YPF, who were backed by Burford Capital, in a case against the government of Argentina. The dispute, arising from the country’s takeover of a majority stake in the oil and gas company in 2012, ended in defeat for the Argentine government, which has been ordered to pay $8.4 billion in damages and $7.6 billion in interest to two defunct investors…

Activity at the country’s major ports is now approaching pre-sanctions levels, according to the Kiel Trade Indicator Russia appears to be regaining its position in global trade as evidenced by “surprisingly” high activity at its container ports despite international sanctions, the Kiel Institute for the World Economy has reported. The German economic research institute released its August trade data on Thursday, stating that for the first time since last year the volume of goods unloaded at Russia’s three largest container ports is approaching the levels seen at the outbreak of the conflict in Ukraine in February 2022. The country’s three most important…

G20 leaders also call for full implementation of grain deal G20 leaders have acknowledged the difference of views and assessments of the situation in Ukraine among its members, according to a final declaration of the New Delhi summit of the group. “We highlighted the human suffering and negative added impacts of the war in Ukraine with regard to global food and energy security, supply chains, micro-financial stability, inflation and growth, which has complicated the policy environment for countries, especially developing and least developed countries which are still recovering from the COVID-19 pandemic and the economic disruption which has derailed progress…

Earlier, Bloomberg and Financial Times reported citing sources that China’s delegation tried to push for the US not organizing the G20 summit The next G20 summits will be held in Brazil, South Africa and the US, according to a final declaration of the New Delhi summit of the group. “We look forward to meeting again in Brazil in 2024 and in South Africa in 2025, as well as in the United States in 2026 at the beginning of the next cycle,” the document reads. Earlier, Bloomberg and Financial Times reported citing sources that China’s delegation tried to push for the…

The summit in New Delhi is running in an in-person format on September 9-10 Indian Prime Minister Narendra Modi has said that a joint declaration was agreed on at the G20 summit. He also suggested that the leaders of G20 members adopt the document. “On the back of the hard work of all the teams, we have received consensus on the G20 Leaders Summit Declaration,” Modi said at the summit. The summit in New Delhi is running in an in-person format on September 9-10. Invitations were sent to all G20 leaders, as well as heads of nine other countries: Bangladesh,…

According to latest figures, the earthquake killed more than 600 people and left over 300 people wounded Russian President Vladimir Putin has sent a message to King Mohammed VI of Morocco extending his condolences over a severe earthquake in the country that killed and affected hundreds of people. The message has been published on the Kremlin’s website. “Accept my deepest condolences over the tragic consequences of the severe earthquake in central regions of your country. Russia shares the worries and grief of the friendly people of Morocco. Please convey my words of sympathy and support to the families and friends…

President Mahmoud Abbas has instructed Prime Minister Mohammad Shtayyeh to dispatch rescue, relief and civil defense teams to Morocco to provide all possible aid to the victims of the devastating earthquake that struck several regions in the brotherly nation, resulting in hundreds of casualties, injuries, and significant damages. President Abbas has also expressed his heartfelt condolences to the people of Morocco and their leadership, affirming that the Palestinian people stand in solidarity with their Moroccan brothers and sisters during this difficult time. The 6.8-magnitude earthquake struck in Morocco’s High Atlas mountain range shortly after 11 p.m. local time at the…

UAE President Sheikh Mohamed bin Zayed Al-Nahyan on Saturday participated in the 18th G20 Heads of State and Government Summit held in New Delhi, India. Chaired by Narendra Modi, the Prime Minister of India, the G20 Summit brings together world leaders, European Union officials, representatives of global organizations and UN bodies to discuss key global issues and opportunities for joint action. “Today, I participated in the G20 summit in India, and held fruitful meetings with a number of participating leaders and officials, during which we discussed cooperation to confront common challenges and achieve sustainable development and prosperity for all. The…

Putin also pointed out that the Soviet Union was the first to recognize the new sovereign state Development of bilateral relations between Russia and North Korea in all directions is in line with ensuring security and stability of the Korean Peninsula and Northeast Asia, Russian President Vladimir Putin wrote in his congratulatory message to North Korean leader Kim Jong-un on the occasion of the 75th anniversary of the Day of the Foundation of the Republic. “I am confident that through joint efforts we will continue to systematically develop bilateral relations in all directions. This fully meets the interests of our…