Showing posts with label Economics and Finance. Show all posts
Showing posts with label Economics and Finance. Show all posts

Tuesday, August 09, 2022

Turkish media: Erdogan and Assad may hold talks at the suggestion of Putin; US Media: Turkey builds "Bayraktar" aircraft factory in Ukraine

    Tuesday, August 09, 2022   No comments

The Kremlin announced today, Tuesday, that Russian President Vladimir Putin and his Turkish counterpart, Recep Tayyip Erdogan, discussed the situation in Syria.

Turkish media revealed that President Erdogan and his Syrian counterpart, Bashar al-Assad, may hold a phone call, during the coming period, at the suggestion of Putin.

And the newspaper "Turkey" published a report, in which it was based on private sources, that Erdogan, who recently visited Sochi, Russia, exchanged views on Syria with President Putin, and the Russian President suggested that he meet Assad and Erdogan, in order to solve the problem of terrorism in Syria.

But Ankara made it clear that it is "too early" for a meeting between the two presidents, while a phone call is still possible.

The newspaper pointed out that there are diplomatic contacts from a Gulf country and an African one with Syria and Turkey, in order to arrange a meeting between Presidents Assad and Erdogan.

During their bilateral summit in Sochi, Putin and Erdogan confirmed their support for preserving the unity of Syria. 

During this meeting in Sochi, Putin was accompanied by the president of the Chechen Republic, R. Kadyrov, who might be called upon to nudge Turkey further in the direction of Russia.


Erdogan announced, earlier, that his country intends to launch a military operation inside Syrian territory to combat “terrorism” and establish what he described as a “safe zone,” noting that his country “will not ask permission before launching a military operation in Syria.”


While Ankara says that its military presence in Syria aims to prevent the threat from the Kurdish factions, Damascus considers the Turkish military presence in the country an occupation and a threat to regional and international peace.


In a letter sent by the Ministry of Foreign Affairs to both United Nations Secretary-General Antonio Guterres and the Security Council, Syria protested Turkey's intention to launch a military operation inside its territory.


Last May, an official source at the Ministry of Foreign Affairs and Expatriates confirmed that "Syria's sovereignty, independence, and territorial integrity will not be the object of blackmail or bargaining by the Turkish regime."


Reacting to the latest media report about possible talks between the Syrian President Bashar al-Assad and his Turkish counterpart, Recep Tayyip Erdogan, is Syrian sources, off the record, rejected the the idea of such event happening, characterizing it as "totally incorrect."

...

Meanwhile, US media sources highlight another aspect of Turkish involment in matters of concern to Russia.

The American "Newsweek" magazine said today, Tuesday, that the Turkish company "Baykar", which produces the "Bayraktar" unmanned combat aircraft, is currently building a factory on Ukrainian soil.


The magazine quoted Ukraine's ambassador to Turkey, Vasyl Bodnar, as saying that the Turkish company had already purchased a plot of land in Ukraine and developed the station project. Bodnar added that "Baykar" intends to build the plant in fulfillment of the personal commitment of the company's owners to make this production in Ukraine.


The magazine pointed out that the Bayraktar TB2 drones were considered one of the most valuable weapons for Ukraine in the first months of the war, especially before the arrival of the American "HIMARS" missiles.


She noted that Ukraine had more than 20 unmanned aircraft produced by the "Baykar" company when the war began, and acquired them during the past two years.


Because Kyiv currently has a limited supply of these planes, and given that Russia has learned a lesson from weakness during the first phase of the war, it is unlikely that Ukrainian forces would risk losing their TB2s from unmanned aerial vehicles, by pushing them forward in areas where Russian air defenses could easily fall."


She added that "a TP2 aircraft factory can fundamentally change the situation in Ukraine," noting that the time required for the construction of the factory is still unclear.

...

Editors' Note: This story was updated to include the Syrian government's rection to the news about the phone call between the two presidents.



Monday, August 08, 2022

UAE backs China on Taiwan, condemns 'provocative visits' after Pelosi trip

    Monday, August 08, 2022   No comments

A day after Pelosi's trip, on Thursday, the influential GCC state, UAE,  reiterated its support for China's "sovereignty" over Taiwan and condemned "provocative visits" after US House of Representatives Speaker Nancy Pelosi landed on the island earlier this week.

"The UAE affirmed its support for China's sovereignty and territorial integrity, as well as the importance of respecting the 'One China' principle... the UAE indicated its concern over the impact of any provocative visits on stability and international peace," the Emirati foreign ministry said in a statement.



Pelosi landed in Taiwan as part of a wider Indo-Pacific tour on Tuesday - enraging China, which regards Taiwan as a breakaway province.


The UAE is a key US ally in the Middle East, but also has burgeoning ties with China. It has previously expressed strong support for China's sovereignty over Taiwan.


A Sky News investigation found earlier this year that the UAE was providing China with "black sites" to detain and forcibly disappear Uighur activists.


Abu Dhabi and Washington have taken differing stances on some key global issues, including Russia's invasion of Ukraine - with the UAE failing to follow the US in condemning Moscow for its actions.


The US reportedly intervened last year in Beijing's construction of a Chinese military base in the UAE.

Saturday, August 06, 2022

Türkiye, Russia to work against terror groups in Syria; Erdoğan confirms the payment of Russian natural gas in rubles

    Saturday, August 06, 2022   No comments

President Recep Tayyip Erdoğan said on Aug. 5 that he discussed with his Russian counterpart Vladimir Putin the steps to be taken against terrorist organizations in Syria and agreed to take necessary steps to protect Syria’s territorial integrity.

Erdoğan has also confirmed that Türkiye will start paying for some of its Russian natural gas imports in rubles.

"As Türkiye, our door is open to everyone. One good thing about this Sochi visit is that we agreed on the ruble with Mr. Putin," Erdoğan said.

"Since we will conduct this trade in rubles, it will of course bring money to Türkiye and Russia."


Neither Erdoğan nor Russian officials have said what portion of the gas will be covered by ruble payments.


Putin and Erdoğan on Aug. 5 adopted a statement pledging to boost political and economic cooperation including in energy and trade.


At the start of the talks Putin also praised the TurkStream natural gas pipeline project, saying Europe should be grateful to Türkiye for uninterrupted supplies of Russian gas.


"I believe that (today’s meeting) will open a whole different page in Turkish-Russian relations," Erdoğan said.


Putin and Erdoğan last met for a three-way summit in Iran in July.


Read original story.

Friday, August 05, 2022

Putin and Erdogan agreed to buy Turkey part of Russia's gas in rubles; Kadyrov to visit Turkey

    Friday, August 05, 2022   No comments

Russian Deputy Prime Minister Alexander Novak announced that Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan have agreed to sell part of Russian gas to Turkey in rubles.

"Gas supplies to Turkey were discussed, which is supplied in fairly large quantities: 26 billion cubic meters annually. During the negotiations, the two presidents agreed that part of the gas supplies would be paid for in rubles," Novak said.

"We are talking about a gradual transition to national currencies, and in the first stage, part of the supplies will be paid in Russian rubles," he added.

Earlier in the day, Russian presidential spokesman Dmitry Peskov announced the end of talks between Russian President Vladimir Putin and his Turkish counterpart, Recep Tayyip Erdogan, in the Russian city of Sochi, after they lasted for four hours. Putin and Erdogan discussed several files, most notably the files of Syria, Libya, Ukraine and energy.

It is worth mentioning here that the Russian President issued his instructions to transfer all payments for gas supplies to Europe into the national currency, stressing that "it makes no sense to supply Russian goods to the European Union or the United States of America and to receive payments in euros and dollars."

There were reports that the president of Chechnya, Ramazan Kadyrov attended the meetings in Sochi. Perhaps responding to such reports, Kadyrov released the following statement:

During the face-to-face talks between Vladimir Vladimirovich Putin and Recep Tayyip Erdogan, I personally met Turkish Foreign Minister Mevlut Cavusoglu and head of the Turkish national intelligence organization Hakan Fidan. We had an informal rich and productive conversation, during which we came to a common opinion on the need to establish close cooperation between Turkey and the Chechen Republic on various issues.

Historically, our peoples are connected by a lot, especially since a fairly large number of ethnic Chechens currently live in Turkey. Mevlut Cavusoglu expressed hope that this informal meeting would be the beginning of further development of relations and establishing contacts. I agreed with the Turkish Foreign Minister and also noted that both sides would benefit from joint undertakings.

At the end of the meeting, the distinguished guests invited me to visit Turkey, during which we could discuss a wide range of cooperation issues, including economic ones. Of course, I accepted the invitation.


Wednesday, July 27, 2022

Lavrov criticizing the dependence on the US “dollar” to support the global economy: The globe is going through an important historical period and people will have to choose the type of world they want to live in

    Wednesday, July 27, 2022   No comments
On Wednesday, Russian Foreign Minister Sergei Lavrov criticized the global economy's dependence on the US dollar. 

Lavrov said, during a press conference in the Ethiopian capital, Addis Ababa, that relying on the US currency to support the global economy “was not very promising,” noting that countries are turning to using alternative currencies “more and more,” according to the African News website.

"This process will gain momentum," the Russian minister noted.
Lavrov explained that the globe is going through an "important historical period, and people will have to choose what kind of world they want to live in."

"The universe is based on the United Nations Charter, which states that the United Nations was founded on the principle of sovereign equality of states, or we will have a world in which the right of the strongest prevails," the Russian foreign minister continued.

During his visit in Ethiopia, Lavrov held meetings with the country's President, Sahle Work Zewde, and his Ethiopian counterpart, Demke Mokkenen.

Lavrov seeks to convince African leaders that Moscow cannot be blamed, either for the conflict or the food crisis, while Moscow blames the blockade on Ukrainian mines, according to "Africa News".

On Tuesday, the Russian Foreign Minister arrived in the Ethiopian capital, Addis Ababa, for a two-day visit, on the last leg of his African tour.

Lavrov also visited Egypt, the Republic of the Congo and Uganda, as part of a tour aimed at mobilizing support for his country, which is facing Western sanctions over its war against Ukraine.

Since the outbreak of war between Russia and Ukraine in late February, the African Union has taken a neutral stance towards the crisis.


Tuesday, July 26, 2022

IMF: Europe is suffering more than expected, and Russia is less than expected

    Tuesday, July 26, 2022   No comments

The International Monetary Fund announced today, Tuesday, that it "expects the Russian economy not to be affected much this year by Western sanctions," adding that European countries, in turn, "suffer more than expected."

The IMF predicted that "Russian GDP growth will contract by 6% in 2022, much less than the 8.5% decline it had bet on in its previous forecast, which was published in April."


The fund stated, in its report, that it "expects the Russian economy to contract less than was assumed in the second quarter of the year," and noted that "exports of crude oil and products, outside the energy field, were better than expected."


"In addition, domestic demand appears to be showing some resilience thanks to containment of the impact of sanctions in the domestic financial sector, and a weaker-than-expected labor market decline," he explained.


On the other hand, the International Monetary Fund noted that the effects on major European economies "were more negative than expected".


In contrast, the IMF expects the effects of these sanctions to be more than expected in 2023, the year in which the International Monetary Fund expects a recession in the Russian economy by 3.5%, which is 1.2 points less than its previous forecast.


Western countries, in conjunction with the Russian military operation in Ukraine, on February 24, imposed a severe campaign of sanctions against Russia, in order to restrict Moscow financially and economically.


Economic growth forecasts for 2022 have been lowered for Germany (-0.9 point at 1.2%), France (-0.6 point at 2.3%), and Spain (-0.8 point at 4.0%).


The IMF explained that these consequences are stronger due to "high energy prices, as well as declining consumer confidence and slowing manufacturing activity, caused by continued supply chain disruptions and the high cost of raw materials."


The complete suspension of Russian gas exports is expected to "significantly" reduce the growth of the eurozone in 2022 and 2023, and this would force European countries to ration energy, which will affect the main industrial sectors.


The price of gas recorded a record high today in Europe, as the price of the August futures contract reached $2,200 per 1,000 cubic meters, for the first time since its historic record high last March, recording a 13% increase in one day.


Monday, July 18, 2022

Russian authorities set to allow new non-credit financial institutions specialising in Islamic banking.

    Monday, July 18, 2022   No comments

Russia is drafting a new law to regulate Islamic banking in the country, a growing sector that could help state-run banks hit by Western sanctions to attract investors from Muslim-majority countries as well as cater to domestic customers.

Islamic banking, assuming the absence of any interest income, may be legalized in Russia soon. Non-credit financial institutions of a new type - partnership financing organizations (OPF) will be able to deal with it. The Central Bank will become their regulator, it will also keep a register of such companies and exercise supervision over them. OPFs will be able to raise funds from citizens and legal entities and invest them in projects that comply with Islamic law on a partnership basis, which is generally reminiscent of trust management. The Central Bank is ready for innovation, but prefers to first test the new regime in a limited number of regions. 

The mass-circulated Russian daily Kommersant reported that the non-credit banking institutions would operate as financing partnership organisations (FPO) and offer Sharia-compliant financial products to their customers.

Sunday, July 17, 2022

Tony Blair: The world is on the verge of geopolitical changes; the era of Western hegemony is nearing its end

    Sunday, July 17, 2022   No comments

Former British Prime Minister, Tony Blair, pointed out that the world is on the verge of geopolitical changes, pointing out that the era of Western hegemony is nearing its end, and is moving towards multipolarity.


"The biggest geopolitical changes of this century will be provoked by China, not Russia," Blair said, in a lecture at a symposium organized by the British-American "Ditchley" Foundation.


He added that "the world will become, at least, bipolar, or perhaps multipolar, and we are approaching the end of Western hegemony in politics and economics."


He continued, "For the first time in modern history, the East can be on an equal footing with the West."


He added that China "is the second superpower in the world, and its economic potential and degree of participation in the global economy is higher than that of Russia."


He believed that "China has caught up with the United States in many technological fields, and is threatening to overtake the United States."


He pointed out that "the Chinese leadership is behaving more and more aggressively, and does not hide that it treats the West with contempt and is getting close to Russia, and it wants to solve the Taiwan problem at last."


"Don't get me wrong, I'm not saying that China will try to take Taiwan by force any time soon, however, we can no longer base our policy on the certainty that it won't," Blair said. China in the near future.


He described the differences in the positions of the Group of Twenty countries on the Ukrainian issue as a warning to the West, calling for building relations with China on the basis of the principle of strength and participation.


He called on the West to "increase military spending and remain strong enough to resist China in any future scenario, while maintaining relations with Beijing, acting in a pragmatic rather than aggressive manner, and demonstrating a willingness to mutual respect."


The former US Secretary of State, Henry Kissinger, had confirmed, earlier, that the global geopolitical situation "will witness changes after the end of the war in Ukraine. It is natural that the interests of Russia and China will not be identical on all issues."


French President Emmanuel Macron also emphasized that the world is no longer bipolar, but rather multipolar.


Friday, July 15, 2022

What is the "sharia economy in Indonesia"?

    Friday, July 15, 2022   No comments


Jakarta (ANTARA) - The Ministry of Cooperatives and Small and Medium Enterprises is encouraging the potential for developing the sharia economy in Indonesia by accelerating the digitization of MSMEs (micro, small, and medium enterprises).


"Technologically, we continue to conduct trainings for grassroots (community) on microeconomics, collaborating not only with technology operators but also with direct digital platforms by providing technical guidance," deputy for micro business at the ministry, Eddy Satriya, said at an online sharia economic development event on Thursday.


The government is targeting to help as many as 30 million MSMEs enter digital platforms or marketplaces by 2024, he noted.


Read more; source: https://en.antaranews.com/news/238277/ministry-makes-digital-push-for-islamic-economy-development


Wednesday, July 13, 2022

Iran to obtain full membership in The Shanghai Cooperation Organisation (SCO)

    Wednesday, July 13, 2022   No comments

After signing its first memorandum of obligations in Uzbekistan at this year's Shanghai Cooperation Organisation (SCO) summit to be held in Samarkand in September, Iran's accession to the full membership of the Euroasia-spanning organization will be finalized by April 2023, the Iranian Embassy in China disclosed to the Global Times on Tuesday. 


Earlier, Russia media outlet Sputnik reported on Monday that Iran is slated to join the SCO as a full-pledged member state this year and a memorandum of Iran's obligations as a SCO member will also be signed in Samarkand, citing a foreign ministry statement of the organization's rotating chair Uzbekistan.


As a country that has been long sanctioned and isolated by the US-led West, Iran, by joining the SCO that accounts for 40 percent of the world's population and 28 percent of global GDP, could expect a breakthrough in its geopolitical and economic status quo, observers said. 


Iran has also approached the SCO with a proposal to create a new single currency for carrying out trade among SCO members, in a push to counter the increasing weaponization of the US dollar-dominated global financial system, CGTN reported in June.


Tehran has also officially submitted its application to become a member of the BRICS group as of late June, three members of which are also part of the SCO - China, Russia and India, following a similar move by Argentina


The Shanghai Cooperation Organisation (SCO) is a permanent intergovernmental international organisation, the creation of which was announced on 15 June 2001 in Shanghai (China) by the Republic of Kazakhstan, the People's Republic of China, the Kyrgyz Republic, the Russian Federation, the Republic of Tajikistan, and the Republic of Uzbekistan. It was preceded by the Shanghai Five mechanism.


The SCO's main goals are as follows: strengthening mutual trust and neighbourliness among the member states; promoting their effective cooperation in politics, trade, the economy, research, technology and culture, as well as in education, energy, transport, tourism, environmental protection, and other areas; making joint efforts to maintain and ensure peace, security and stability in the region; and moving towards the establishment of a democratic, fair and rational new international political and economic order.


The organisation has two permanent bodies — the SCO Secretariat based in Beijing and the Executive Committee of the Regional Anti-Terrorist Structure (RATS) based in Tashkent. The SCO Secretary-General and the Director of the Executive Committee of the SCO RATS are appointed by the Council of Heads of State for a term of three years. Vladimir Norov (Uzbekistan) and Jumakhon Giyosov (Tajikistan) have held these positions, respectively, since 1 January 2019.


Currently:


• the SCO comprises eight member states, namely the Republic of India, the Republic of Kazakhstan, the People's Republic of China, the Kyrgyz Republic, the Islamic Republic of Pakistan, the Russian Federation, the Republic of Tajikistan, and the Republic of Uzbekistan;


• the SCO counts four observer states, namely the Islamic Republic of Afghanistan, the Republic of Belarus, the Islamic Republic of Iran and Mongolia;


• the SCO has six dialogue partners, namely the Republic of Azerbaijan, the Republic of Armenia, the Kingdom of Cambodia, the Federal Democratic Republic of Nepal, the Republic of Turkey, and the Democratic Socialist Republic of Sri Lanka.


Tuesday, July 12, 2022

Days before Putin's visit to Tehran, Iran inaugurates the North-South International Corridor

    Tuesday, July 12, 2022   No comments


Days after India called on Iran to activate the road, rail, and sea transportation systems linking Mumbai to Saint-Petersburg and less than one week before Russia's president lands in Tehran, Iran runs train south inaugurating the transport systems that will link India to northern Europe.

The International North-South Transport Corridor (INSTC) is a 7,200-km-long multi-mode network of ship, rail, and road route for moving freight between India, Iran, Afghanistan, Azerbaijan, Russia, Central Asia and Europe. 

Last week, India urged Iran to activate the 7,200 km International North-South Transportation Corridor (INSTC), The Tribune newspaper reported.

With this development, India's trade with Russia is set to take a turn toward becoming much cheaper and faster as the two nations are planning to establish a corridor that passes through Iran and facilitates transport between them.

The INSTC is a transportation network that includes sea, road, and rail routes and links Russia and India, with Moscow and New Delhi seeking to activate the route due to them upping their bilateral trade by up to $13 billion in the last quarter of 2021. The trade even increased in terms of oil and other commodities.

Several central Asian countries will benefit from trade via the INSTC, such as Armenia, Azerbaijan, and Georgia.

Dry runs have shown transit time decreasing by up to 25 days from 40-45 days on this route, which would cut transportation costs by 30%. The INSTC is also not under any sanctions since it is an alternative to the Suez Canal, and it is not dominated by Western countries.

Iran declared on Thursday its readiness to employ its capacities to contribute to the establishment of sustainable peace in the South Caucasus region, which includes Armenia, Azerbaijan, and Georgia. 

The Secretary of Iran's Supreme National Security Council, Ali Shamkhani, called for establishing agreements that will lay down the groundwork for an increase in the volume of economic exchanges between the two neighboring countries considering their significant potential.

"Interestingly, all 18-odd countries touched by the INSTC route have never been active backers of unilateral sanctions announced periodically by the West," The Tribune reported. Trade links within the region have been disrupted due to the unilateral sanctions imposed on Russia and Iran.

Meanwhile, The Economic Times reported that Russia had started transporting container trains to India through the eastern branch of the INSTC.

The INSTC, if activated, could become an alternative to traditional routes such as the Suez Canal, the Mediterranean Sea, and the Bosporus strait.

India also called on Iran to include its Chabahar Port to be brought under the INSTC, which would provide sea access to Afghanistan and emerge as a commercial transit hub for the region.

India has highly close ties with Iran, mainly due to New Delhi's dependence on Iranian crude oil despite the US sanctions on Tehran. The Islamic Republic also enjoys pivotal geographic importance, as it provides an alternate route to Afghanistan and Central Asia without India having to resort to Pakistan, a nation whose ties with New Delhi are frayed.


Tuesday, June 28, 2022

Iran, Argentina’s applications to BRICS will further define this block of nations

    Tuesday, June 28, 2022   No comments
Will BRICS become BRICSAI soon?
Iran's application to the BRICS, following a similar move by  Argentina,  are now formal. BRICS nation must decide.

China, this year's BRICS' chairmanship, actively supports the mechanism's expansion. China wants like-minded countries to join BRICS, that made Iran a very strong candidate. 

China also wanted a representative government of Muslims, so it approached Pakistan, mostly given its location and its role in the Road and Belt Initiative. India objected to including Pakistan. This strengethened Iran's position even more. 

Now BRICS nations need to decide on specific rules that will govern the expansion of the block of nations.

Being the host country, China engaged with Pakistan prior to the BRICS meetings, where decisions are taken after consultations with all BRICS members, the foreign ministry statement said. 

"We do hope that future engagement of the organization would be based on the principles of inclusivity keeping in view the overall interests of the developing world and in a manner that is devoid of narrow geopolitical considerations," said the statement.

"Regrettably one member blocked Pakistan's participation," The Hindu reported on Monday, citing Pakistan's Foreign Office. 

Friday, June 24, 2022

Russian Foreign Minister Sergey Lavrov meets Iranian President Ibrahim Raisi: Russian President Vladimir Putin is counting on holding new meetings with Raisi

    Friday, June 24, 2022   No comments


Russian Foreign Minister Sergei Lavrov said today, Wednesday, that Russian President Vladimir Putin is counting on holding new meetings with his Iranian counterpart, Ibrahim Raisi.

At the start of his meeting with the Iranian president in Tehran this evening, Lavrov said: "President Putin asked me to convey to you his warmest greetings and best wishes. He looks forward to new meetings with you."

He noted that the Russian president holds several meetings every day, and they are "primarily related to adapting the economic, social, banking and financial sphere to the realities that are now emerging as a result of the selfish and aggressive policy of the West."

"All countries that are negatively affected by the selfish approach of the United States and its orbiters have an objective need to reshape their economic relations in a way that does not depend on the whims and whims of our Western partners," Lavrov added.

This is Lavrov's first visit during the era of the new Iranian government that was formed last August. The Russian minister visited Tehran in April 2021 and held talks with his Iranian counterpart at the time, Mohammad Javad Zarif.

In related news; Iranian Foreign Minister Hossein Amir Abdollahian announced that President Ebrahim Raisi will participate in the BRICS summit, which will be held in China.

Amir Abdollahian wrote in a tweet on his Twitter account: "The BRICS group of countries promises their great potential and innovative vision to be an effective engine for global development and peace."

The Iranian minister added, "By accepting the invitation of the Chinese president to attend the BRICS Plus summit, Iranian President Ebrahim Raisi, during his participation in the summit, will explain Iran's views and capabilities," stressing that his country is taking advantage of any opportunity in the form of "dynamic diplomacy" to advance its national goals.

Yesterday, the Chinese Foreign Minister welcomed the Iranian President's attendance at the BRICS meeting, expressing his hope that the course of diplomacy and dialogue would lead to an agreement in the Vienna negotiations.

Iran's ambassador to Beijing, Mohammad Keshavarzzadeh, said that a phone call took place between the Foreign Minister and his Chinese counterpart, Wang Yi, indicating that the two sides discussed bilateral and international issues.

And the "BRICS" group saw the light of day in 2006, to form an international alliance in the face of Western domination of the world, and turned into an integrated political and economic group.

Its first summit was held on June 16, 2009, under the name "BRIC", in the Russian city of Yekaterinburg, with the participation of: Brazil, Russia, India and China first, then joined by South Africa in 2010, becoming the name of the International Alliance. BRICS, a word formed and derived from the initial letters of the name of each member state.

The population of the BRICS countries constitutes about 45% of the world's population, and the area of ​​its member states covers more than 39 million square kilometers, which is equivalent to 27% of the total land area.

The size of the BRICS economies exceeds the GDP of the Group of Seven major industrial countries (the United States, Britain, Germany, Japan, France, Canada and Italy).

According to Iranian media reports, Chinese President Xi Jinping as the host of BRICS Summit 2022, has invited President Rayeesi to attend the meeting and deliver a speech on Friday.

Rayeesi will discuss the Islamic Republic's viewpoints on international issues and the development of trade and economic cooperation with other countries at the event, which will be held on Friday.

The meeting will discuss "high-level talks for global development".  

Iran is the only country in West Asia region that has been invited to attend the BRICS+ summit.

BRICS expansion

China proposed expanding the BRICS grouping during a meeting of the bloc’s foreign ministers in May. Though the suggestion was welcomed by other member countries, there have been no official announcements of who the new members might be.

“We can get a sense of which countries might be invited by looking at their position on Ukraine and their voting behaviour regarding the conflict at the United Nations,” Huang said. “Those developing countries who abstained or supported Russia may be recruited to join.”


Wednesday, June 22, 2022

Oil is thicker than blood: Erdogan and bin Salman agree to start a 'new era' of cooperation

    Wednesday, June 22, 2022   No comments

Saudi Crown Prince Mohammed bin Salman and Turkish President Recep Tayyip Erdogan discuss improving relations and investment between the two countries and activating the agreements signed between them in the fields of defense cooperation.

Turkey and Saudi Arabia affirmed during talks in Ankara today, Wednesday, their intention to start a new era of joint cooperation, at a time when the two countries aim to fully normalize their relations, which collapsed after the killing of Saudi journalist Jamal Khashoggi.

In a joint statement following talks between Saudi Crown Prince Mohammed bin Salman and Turkish President Recep Tayyip Erdogan, the two sides said they discussed improving relations and investing in the energy, defense and other sectors.

In the statement, they confirmed their agreement to "activate the agreements signed between them in the areas of defense cooperation in a way that serves the interests of the two countries and contributes to ensuring the security and stability of the region."

The two countries also expressed their desire to "work on developing projects in the energy field", "facilitating trade, searching for investment opportunities, and increasing communication to turn them into tangible partnerships."

The two parties announced, "the agreement to activate the work of the Saudi-Turkish Coordination Council, and to raise the level of cooperation in issues of common concern."

Today, Wednesday, Saudi Crown Prince Mohammed bin Salman arrived in Turkey on his first official visit to this country, after 9 years of disputes exacerbated by the assassination of Saudi journalist Jamal Khashoggi in Istanbul.

The first chapter of reconciliation took place at the end of April, when Erdogan visited Saudi Arabia and discussed with the Crown Prince ways to "develop" relations between the two countries.

Three weeks before that, the Turkish judiciary decided to reserve the case for the assassination of opposition journalist Jamal Khashoggi, columnist for the Washington Post, who was killed in October 2018 in his country's consulate in Istanbul.


Friday, June 17, 2022

Putin: Energy and food problems are the result of the West's wrong policies; All objectives of the Russian military operation in Ukraine will be achieved

    Friday, June 17, 2022   No comments

 Russian President Vladimir Putin stressed today, Friday, that "the world is diverse and one framework cannot be imposed on everyone from one center," adding: "The world is no longer the same as before."

In his speech at the Petersburg International Economic Forum, Putin said that "the United States of America announced that it had won the Cold War and considered itself descended from heaven."

He recalled what he said in Davos a year and a half ago that the "unipolar world has ended" and that there are strenuous attempts to try to restore it, noting that "it is no longer possible to ignore the interests of the new centers of power in the world."

"Outdated geopolitical illusions have undermined confidence in global currencies," Putin said.

The West expected the ruble to collapse, but what happened was the opposite

The Russian president pointed out that "the West's measures to destroy the Russian economy failed and did not bear fruit," explaining that "the reaction of the Russian people came against what the West wanted, as we have increased strength and cohesion."

Putin stressed that "the Russian financial system is stable," noting that "the West expected the ruble to collapse and reach 200 against the dollar, but what happened was the opposite and their expectations were not fulfilled."

"The goal of the sanctions was to bring down the Russian economy, but they did not succeed because the Russian economic sector worked efficiently," he said.

"The Russian people are a strong people who will deal with any problem, and this is evidenced by the thousand-year history of our country," Putin said.

He added that "European politicians have harmed their countries' economies," noting that "the consequences of sanctions imposed on Russia will be $400 billion on European economies."

He stressed that "sanctions can be imposed on any country, including European countries and any European companies."

The European Union has completely lost its sovereignty

During his speech, Putin saw that "the European Union has completely lost its sovereignty, is subject to external dictates, and implements everything that is dictated to it," noting that "inflation growth in some eurozone countries has now exceeded the level of 20%."

Considering that "the world has reached this situation as a result of the activities carried out by the seven major industrialized countries at the level of economy and politics."

There is a danger that Ukrainian wheat will go to finance arms deals

"The Russian military operation in Ukraine was an excuse to hold Russia responsible for all the mistakes," the Russian president said, stressing that "the special military operation in Donbas has nothing to do with the situation in Europe."

He pointed out that "the United States was at the forefront of exporters in the global market, but the US role has now changed."

Putin pointed out that "the West deliberately created a food crisis by buying foodstuffs in world markets above its actual needs," adding that "the United States was the main supplier of many food commodities, and today it has become an importer rather than an exporter."

He revealed that "Russia is interested in exporting 50 million tons of wheat, a priority for needy countries in the countries of the Middle East and Africa," explaining that "the West is pursuing the same old policy of plunder and imperialism, but in a new way."

He added, "Democratic procedures, elections in Europe sometimes look at what's going on there, what forces come to power. It all seems like a screen [to camouflage], because political parties are alike, like twins, superseding each other. However, the The essence of this does not change, the real interests of citizens, national business are being pushed more and more into the backyard, to the fringes.”

He stressed that Russia does not obstruct food exports from Ukraine and that it is not the one who planted mines in the ports, and said in this context, "We will secure the transportation of grain from the ports, but the Ukrainian side should secure the ports from what they planted of sea mines."

Putin warned that "there is a danger that Ukrainian wheat will go to finance arms deals."

Putin: All objectives of the Russian military operation will be achieved

Putin said that "the reason for the energy crisis in Europe lies in the wrong policy of the European Union and the unjustified dependence on alternative energy," stressing that "there was no escape from the decision to launch military currency, as the Donbas residents were subjected to abuse by the Western-backed Ukrainian regime."

Putin added that "all the objectives of the Russian military operation will be achieved," adding that "our soldiers are defending the homeland, the people and human values, and they are resisting extraneous values ​​and moral decay."

He pointed out that "sovereignty in the 21st century is indivisible."

He denounced Western actions, saying: "The West has always been generous in raising the level of hostility against Russia and creating a poisonous atmosphere of Russophobia."

Putin: Russia will not be isolated

Putin pointed out that "the change in the Russian economy and its ability to confront sanctions is what we have made over the past years," noting that "the structure of Western sanctions was based on a false belief that Russia is not a self-sufficient economy."

"The sanctions provide us with a great opportunity and impetus to move forward with regard to technological independence," he said, adding that "Russia will not undergo the process of isolation that the hostile countries thought we would submit to."

He added that "Russia will deal with leaders who want to deal with it, who are able to distinguish between the interests of their countries and foreign dictates."

Putin predicted that "the current situation in Europe will lead to an escalation of radicalism in the future to change the ruling elites," adding that "everyone working with Russia is under unprecedented pressure from the United States and the European Union."


Friday, May 13, 2022

Medvedev warns of 10 catastrophic consequences of sanctions against Russia

    Friday, May 13, 2022   No comments

 The deputy head of the Russian National Security Council, Dmitry Medvedev, said that the post-sanctions world against Russia will bear a catastrophic 10 points.

This came in a post on his Telegram channel, where he indicated that what will happen is actually reality and "not out of expectations"; a translation of his statement follows:

__________________

What will happen next, or the World after anti-Russian sanctions (not a forecast at all)


1. A number of global supply chains of goods will collapse, a major logistical crisis is possible, including the collapse of the activities of foreign airlines that are prohibited from flying over Russian territory.

2. The energy crisis will intensify in those states that have imposed “shooting their own feet” sanctions on the supply of Russian energy carriers, further growth in fossil fuel prices will continue, and the development of the digital economy in the world will slow down.

3. A full-fledged international food crisis will come with the prospect of starvation in individual states.

4. A monetary and financial crisis is possible in some countries or communities of countries, associated with the undermining of the stability of a number of national currencies, galloping inflation and the destruction of the legal system for protecting private property.

5. New regional military conflicts will arise in those places where the situation has not been peacefully resolved for many years or the significant interests of major international players are ignored.

6. Terrorists are becoming more active, believing that the attention of Western authorities today is diverted to a showdown with Russia.

7. New epidemics will begin, caused by the rejection of honest international cooperation in the sanitary and epidemiological sphere or by direct facts of the use of biological weapons.

8. There will be a decline in the activities of international institutions that have not been able to prove their effectiveness in the course of settling the situation in Ukraine, such as, for example, the Council of Europe.

9. New international alliances of countries based on pragmatic rather than ideological Anglo-Saxon criteria will be formed.

10. As a result, a new security architecture will be created, in which de facto, and then de jure, the existing realities are recognized: 

a) the weakness of Westernized concepts of international relations such as "Order based on rules" and other senseless Western junk; 

b) the collapse of the idea of ​​an American-centric world; and 

c) the presence of interests respected by the world community in those countries that are in an acute stage of conflict with the Western world.

_______________________________________

01:00; FRIDAY THE 13TH of May, 2022.

Thursday, May 12, 2022

Tamim bin Hamad in Tehran: Foreign intervention in West Asia is rejected

    Thursday, May 12, 2022   No comments

 The Emir of Qatar, Tamim bin Hamad Al Thani, discussed today with the Supreme Leader of Iran, Ali Khamenei, bilateral relations and regional and international issues.

A statement by the Qatari Emiri Diwan said that during the meeting, they reviewed the existing friendly relations between the two countries and discussed a number of regional and international issues of mutual interest.

Earlier today, the Emir of Qatar and Iranian President Ibrahim Raisi discussed bilateral relations in the fields of politics, economy and trade, and enhancing prospects for cooperation in the tourism, investment, transport and communications sectors.

In a press conference between Raisi and the Emir of Qatar, the former expressed his rejection of any form of foreign presence in the West Asian region, especially by Western powers.

"Such foreign presence does not bring security to the region, but on the contrary undermines it," he said, noting that "the leaders, officials and governments of the countries in the region should realize that any interference by foreign countries and representatives of the West harms regional security."

Regarding the Yemen file, Raisi said: "We affirm that the siege of Yemen must end and Yemenis must be given the opportunity to decide the fate of their country on their own."

According to Raisi, the situation in Afghanistan was also discussed with the Emir of Qatar, noting “the need for an inclusive government there, representing all ethnic groups and political movements, in order to ensure sustainable security in this country.”

According to the Iranian president, the visit of the Emir of Qatar will be a turning point in the relations between the two countries and will play an important role in developing regional and international cooperation.

For his part, the Emir of Qatar stressed that "the current problems in the region must be resolved through constructive dialogue," announcing the simplification of visa procedures for Iranian viewers interested in attending the 2022 World Cup in Qatar.

The Iranian president visited Doha last February, in light of the historical relations between the two countries, in contrast to Tehran's "strained" relations with some Gulf capitals.

At that time, the two countries signed 14 cooperation documents in the fields of aviation, trade, maritime, media, foreign policy, energy, metrology, culture and education.







Friday, April 29, 2022

Moscow and Tehran sign a comprehensive agreement in the field of transport

    Friday, April 29, 2022   No comments

Iranian Minister of Roads Rostam Qasemi, who led a delegation to Moscow, concluded a comprehensive agreement on railway cooperation between Iran and Russia, at the conclusion of his talks with the Russian Minister of Transport.

During the talks, which were also attended by members of the delegations of the two countries, Russian Transport Minister Vitaly Soliev, referring to the expansion of relations between the two countries, expressed his hope that the signing of the agreement would further expand bilateral cooperation in the field of transportation.

He said that the north-south railway corridor can be the basis for expanding cooperation between Russia, Iran, Central Asia and the Caucasus, and there is a need to sign a contract to implement this huge project, expressing the hope that the Rasht-Astara railway section will be completed with joint cooperation.

Vitaly Soliev said: In addition to joint efforts in the construction of this section, we can cooperate in its use and exploitation, which is of particular importance along the North-South railway.

The Russian Minister of Transport indicated that his country views the Islamic Republic of Iran as a hub for trade and transit in the region, and said: With the completion of the railways, especially the Rasht-Astara section, northern Europe will be linked to the Indian subcontinent, which will lead to huge transit revenues for the countries. Located along the route, including Iran and Russia.

The Iranian Minister of Roads also said that Iran is interested in developing and expanding cooperation with its neighbors, explaining that Iran shares its borders with 15 countries, and in the meantime, Russia is important to us as an important neighbor with historical ties.

Qassemi added: If Iran and Russia work closely together, the US and Western sanctions against the two countries will have no effect, explaining that every trade needs to develop the transportation field, and it is possible that any agreement between the two countries will be signed in the transportation field.

The Minister of Roads said: The exports between the two countries and Russian exports to other countries via Iran can be agreed upon and implemented in the shortest possible time, explaining that among the railways, the Rasht-Astara railway is very short and economical, and if the two countries cooperate in completing this section. The volume of exchange and transit of goods between the two countries will increase significantly.

In conclusion, Rostami stressed the possibility of increasing cooperation between Tehran and Moscow in both Chabahar and Shahid Rajaei port.


Saturday, April 23, 2022

Russia Is Making Even More Money on Energy under Sanctions Regime; Ukrainian Finance Minister: embargo would raise prices so high that Russia could still earn significant revenue from oil and gas sales elsewhere

    Saturday, April 23, 2022   No comments

Ukrainian Finance Minister Sergii Marchenko said a potential European embargo on Russian energy would significantly raise prices and thus increase Russia’s earnings, according to a Wall Street Journal report.

Marchenko said that an embargo would raise prices so high that Russia could still earn significant revenue from oil and gas sales elsewhere.

This is not an unforseen outcome; any systems thinker should be able to see how shortage in a product or good can increase profit. For example, amid chip shortage and the pandemic slowdown, car makers were producing less cars but they were selling what they were making at much higher prices, not only offsetting the lower production, but increasing profits.

Similarly, Russian profit from oil export increased and will continue to increase until the market adjust.

 Russia expects to earn 798.4 billion rubles ($9.6 billion) in additional revenue from energy sales in April due to high oil prices, the finance ministry said, as Moscow needs cash to finance its obligations while being cut off from its reserves.


In related news, Argentine Foreign Minister Santiago Cafiero talks about Western sanctions imposed on Russia, and says that his country does not consider them an effective way to solve the crisis in Ukraine.

Today, Saturday, Argentine Foreign Minister Santiago Cafiero stressed that his country does not consider the sanctions imposed on Russia an effective way to resolve the crisis in Ukraine.

He said that his country proposes a return to dialogue and calm, pointing out that imposing sanctions and siege is not a fruitful way to achieve peace, dialogue and diplomatic negotiations.

"For Argentina, the interests of Latin America are a priority, and there are now problems in the region that deserve attention," Cafiero noted.

He added, "It is true that the war in Europe has, to a certain extent, captured the public's attention, but the humanitarian crisis in Haiti is no less urgent, and it does not surface because the media does not focus on it."

Regarding preparations for the Ninth Summit of the Americas, which will be held in June in Los Angeles, Cafiero stressed "the need to discuss food security in the region," adding that the United States "cannot stand aside."

He believed that judging countries and imposing sanctions and embargoes "are not Argentina's style, and they never were, and it seems to us that these measures in the region have only led to more inequality and social backwardness."

"Buenos Aires will not support Russia's exclusion from all international organizations, including the G20, so that we do not believe that this contributes to resolving the crisis," said Gabriela Cerruti, a press spokeswoman for the President of Argentina.


German Central Bank: Boycotting Russian gas will cost the country 180 billion euros

    Saturday, April 23, 2022   No comments

The German Central Bank has indicated that the sudden interruption in supplies to the European Union could reduce economic output by 5 percent this year, according to the British Financial Times.

The central bank has warned that the immediate ban the European Union is considering imposing ban on Russian gas imports will cost Germany 180 billion euros this year.

And the bank added, in its monthly bulletin, yesterday, that this ban will affect the gross domestic product by 5% in 2022, which will lead to higher energy prices, in addition to one of the deepest recessions that the country has experienced in recent decades, according to the British newspaper.

Thus, the central bank's estimates are much more negative than those of academic economists, and it is likely to bring to the fore the fierce debates about the readiness of the economic power of the eurozone in the face of the absence of Russian gas.

This comes at a time when the Ukrainian government, along with European politicians and academics, considers that sales of gas, oil and coal to the West contribute to the stability of the Russian economy, and help "finance the war of President Vladimir Putin." The European Union will ban imports of Russian coal from August, while gas shipments are set to continue.

Last month, a group of nine university economists deemed the fallout of the entire energy ban "manageable," noting that it would affect Germany's gross domestic product by only 0.3 to 3 percent.

However, industry officials warned that the impact would be more severe. In this context, BASF CEO Martin Brudermüller noted that a sudden halt to Russian gas deliveries could destroy "the entire German economy" and could lead to the worst economic crisis since 1945.

For their part, politicians rejected allegations that the economic repercussions of the embargo would be “minor.” German Chancellor Olaf Scholz described these estimates as “wrong” and “irresponsible,” while Economy Minister Robert Habeck considered that Germany would permanently dispense with Russian gas by 2024.

During the meetings of the International Monetary Fund and the World Bank in Washington yesterday, US Treasury Secretary Janet Yellen called on the European Union to “be careful” about banning Russian energy imports, warning of the damage such a move could cause to the global economy.

The Bundesbank, which considered its estimates still highly questionable, estimated that industrial consumers could not replace Russian gas with alternative energy sources for three consecutive quarters. As a result, inflation, which reached 7.3 percent, will rise by 1.5 percent this year, exacerbating the risk of inflation, given the association of strong price pressures with weak growth, according to the newspaper.


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