Author: Steven Sahiounie

The two countries aim to bring annual turnover to $100 billion Turkish President Recep Tayyip Erdogan has underscored the importance of switching to national currencies in bilateral trade with Russia. He made these comments during his meeting with Russian President Vladimir Putin in Sochi on Monday. “I believe that the fact that the heads of our central banks will meet here today is important from the point of view of a step towards the transition to national currencies in bilateral relations between us,” the Turkish president stated. Putin, in turn, noted that the pace of trade development between the two nations…

The biggest impact of six new member states joining BRICS will be on the share of global oil production that will increase to 40% from the current 18%, which is expected to be the potential game changer for payment system and price discovery, the note said NEW DELHI, September 4. /TASS/. The share of BRICS (Brazil, Russia, India, China, South Africa) in global GDP will rise to 30% starting January 2024 when Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates join the organization compared with 26% now, according to a research paper by the State Bank of…

Summer grade diesel fuel prices gained 0.41% to 68,278 rubles ($703.8) a metric ton MOSCOW, July 29. /TASS/. Exchange prices of the Premium 95-octane gasoline blend and the summer grade diesel fuel were record high again by the close of business during the trading session at the St. Petersburg International Mercantile Exchange (SPIMEX), according to trading data. Regular gasoline prices moved upward by 0.28% to 64,814 rubles ($668) per metric ton. Premium gasoline prices edged up by 0.35% to record high 75,030 rubles ($773.3) per metric ton. Summer grade diesel fuel prices gained 0.41% to 68,278 rubles ($703.8) a metric…

“The trend is surfacing to the more active use of national currencies, the ruble and the lira, in commercial exchanges,” the Russian leader noted SOCHI, September 4. /TASS/. The share of payments in national currencies between Russia and Turkey is growing and the share of the dollar and the euro is declining, Russian President Vladimir Putin said after talks with Turkish leader Recep Tayyip Erdogan. “The trend is surfacing to the more active use of national currencies, the ruble and the lira, in commercial exchanges. At the same time, the share of the dollar and the euro in mutual settlements…

Andrey Rudenko noted that the Russian Foreign Minister will head to Vladivostok after trips to Jakarta for the East Asia Summit, Bangladesh and New Delhi for G20 summit on September 9-10 MOSCOW, September 4. /TASS/. Russian Foreign Minister Sergey Lavrov will participate in the events of the Eastern Economic Forum (EEF) in Vladivostok, Russian Deputy Foreign Minister Andrey Rudenko announced at the Valdai international discussion club. “Sergey Viktorovich is expected to participate in events on the margins of the Eastern Economic Forum in Vladivostok,” the senior diplomat said. He noted that Lavrov will head to Vladivostok after trips to Jakarta…

Reznikov’s dismissal comes on the heels of an inflated military catering costs scandal. In his nightly video address to Ukraine, President Volodymyr Zelensky announced that Defense Minister Oleksii Reznikov has been sacked from his position. Zelensky announced that Reznikov would be replaced as he believes the ministry “needs new approaches and other formats of interaction with both the military and society as a whole.” “Oleksii Reznikov has gone through more than 550 days of a full-scale war. I believe that the [defense] ministry needs new approaches and other formats of interaction with both the military and society in general. Rustem…

The President stressed that Russia would continue providing the Turkish economy with this cheap yet highly efficient and eco-friendly kind of fuel and export it by transit via Turkey to consumers in third countries SOCHI, September 4. /TASS/. Russia is and will always be a reliable gas supplier and will continue providing Turkey with it, President Vladimir Putin said at a press conference after talks with Turkish leader Recep Tayyip Erdogan. “Russia has always been and will remain a reliable, responsible gas supplier. We are going to continue providing the Turkish economy with this cheap yet highly efficient and eco-friendly…

President of the State of Palestine, Mahmoud Abbas, received a phone call from US Secretary of State Anthony Blinken, during which the officials discussed latest developments in the Palestinian territories and ways to strengthen bilateral relations. President Mahmoud Abbas stressed, during the call, that what the Israeli occupation authorities and their forces and settlers who practice terrorism are doing contributes to undermining the two-state solution and destroys all chances of achieving peace, calling on the US administration to accept the State of Palestine’s endeavor to obtain full membership in the UN by a Security Council decision, and to end all…

Jordan’s King Abdullah on Monday received Japan’s Foreign Minister Hayashi Yoshimasa, Jordan News Agency reported. Crown Prince Hussein bin Abdullah also attended the meeting, which focused on strengthening economic, investment, trade and defense cooperation. They also discussed the outcomes of the king’s April visit to Japan and how to build on them. King Abdullah thanked Hayashi for Japan’s assistance to Jordan. He cited the memorandum of understanding signed between the two countries in economy and energy during Hayashi’s visit. He also praised Japan’s support for Syrian refugees and host communities, as well as for Palestinian refugees through the UN Relief…

Describing Iran and Saudi Arabia as two influential states in the region and the Islamic world, Iranian President Ebrahim Raisi said their interaction would block the way for foreign interference. Iran’s new ambassador to Riyadh met with Raisi on Monday before starting his diplomatic mission in Saudi Arabia. Reaffirming Iran’s push for the promotion of relations with neighbors, the president stressed the need to take advantage of the existing capacities to broaden ties between Tehran and Riyadh. He also described Iran and Saudi Arabia as two influential countries in the region and the Muslim world. “The cooperation between Iran and Saudi Arabia and…