Despite areas of difference and rivalries between Moscow and Tehran, ties between the two countries based on common interests have developed significantly.

(SCF) – Both Russia and Iran are both major energy exporters, they have deeply seated interests in the South Caucasus. They are both firmly opposed to NATO’s missile shield, with a view to preventing the U.S. and E.U. from controlling the energy corridors around the Caspian Sea Basin. Read the rest of this entry »

“Since 1945, the US dollar has been the world reserve currency. As its value depreciates, countries holding huge dollar reserves begin to worry. China in particular has expressed grave concerns since it holds nearly $2 trillion in US currency reserves, mostly in the form of US treasury bonds. According to some reports, it is drawing down its dollar reserves by purchasing gold and stocks of raw materials and energy.” Read the rest of this entry »

With a view to restoring financial stability, World leaders have called upon the Group of 20 countries (G-20) to instigate a new global currency based on the IMF’s  Special Drawing Rights (SDRs). Read the rest of this entry »

Yekaterinburg, famous tragically as the spot Lenin chose to have the Tsar and his family executed in 1918, and ironically as the fiefdom of Boris Yeltsin, who finished off the Russian revolution itself in 1991, witnessed something no less remarkable last week when leaders of the so-called BRIC nations (Brazil, Russia, India and China) held their first summit, following the yearly meeting of the Shanghai Cooperation Organisation (SCO). Read the rest of this entry »

Russia’s Central Bank says it plans to cut reserves it holds in U.S. Treasuries and invest in International Monetary Fund bonds instead, a senior official said Wednesday. Read the rest of this entry »

Russia’s Central Bank says it plans to cut reserves it holds in U.S. Treasuries and invest in International Monetary Fund bonds instead, a senior official said Wednesday. Read the rest of this entry »

The city of Yakaterinburg, Russia’s largest east of the Urals, may become known not only as the death place of the tsars but of American hegemony too – and not only where US U-2 pilot Gary Powers was shot down in 1960, but where the US-centered international financial order was brought to ground. Read the rest of this entry »

(Telegraph) – Those of us who still question whether the world has purged its toxins are reduced to the same tiny band of moaning Druids from early 2007, when we shook our heads in disbelief as the carry trade swept Iceland to fresh madness and bankers laughed off sub-prime rot at Bear Stearns. Read the rest of this entry »

(Reuters) – Russia and China should consider switching to domestic currencies in bilateral trade without going to the dollar, Russia’s president Dmitry Medvedev said in an interview with Kommersant daily published on Friday. Read the rest of this entry »

On June 15th and 16th the Shanghai Cooperation Organization (SCO) will hold its ninth annual heads of state summit in the Russian city of Yekaterinburg. Read the rest of this entry »