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In a Telegram post late Tuesday, Zelenskyy said he had “discussed the implementation of the peace formula” with Erdoğan. But the Turkish leader appeared to dash any hopes of a fast-track to NATO membership in his interview with NBC News. Turkey's President Recep Tayyip Erdoğan speaking to NBC News' Chief International Correspondent Kier Simmons in New York on Tuesday. Erdoğan linked Sweden’s NATO membership to the U.S. Congress’ approval of a Turkish request to purchase 40 new F-16 fighter jets and kits to modernize the country’s fleet. “Unfortunately, many Western countries remain silent in the face of Israel, and they never took a stance against Israel,” Erdoğan said, adding: “Amongst the NATO allies, unfortunately, there are many countries siding with Israel.

Persons: ”, Recep Tayyip Erdoğan, Erdoğan, don’t, Volodymyr Zelenskyy, Joe Biden, Staff Andrii Yermak, Zelenskyy, “, Kier Simmons, Natasha Lebedeva, ” Erdoğan, Benjamin Netanyahu, Ali Jadallah, ” Biden Organizations: NATO, NBC News, United Nations General Assembly, Staff, Telegram, International, NBC, U.S . Congress, Israeli, Israel, Awda, Getty Images Health, America’s Locations: Russia, New York, Ukraine, Sweden, Finland, Turkey, Syria, Brazil, India, China, South Africa, Moscow, Washington, Gaza, Al, Gaza City, Anadolu, Israel, United States, U.S

☆ Turkey's 'balancing act' with BRICS may stoke NATO fears, but the West needn't be too worried, analysts say
▼ + stars: | 2024-09-15 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +6 min

Read previewEarlier this month, a spokesperson for Turkey's ruling AK Party said that a process was "underway" for Turkey to join the BRICS group of emerging-market nations. He now appears to be seeking to maintain what experts have dubbed a "balancing act" between its relations with the West, Russia, and China. "Even if Turkey does join BRICS, I do not believe it is going to lead to a fundamental redefinition of Turkey's relationship with the West." Advertisement"Understanding and collaborating with Turkey's perspective can enhance US and NATO relations with Turkey, irrespective of potential administrative changes in Ankara," Can wrote in an article for the Wilson Center. For its part, the US has remained relatively quiet following the news that Turkey's BRICS ambitions may be inching forward, which Aydintaşbaş said was likely a savvy move aimed at avoiding a public dispute.

Persons: —, Omer Celik, Tayyip Erdoğan's, Aydintaşbaş, Erdogan, Bulent Aliriza, Yusuf, Aliriza, there's, Turkey's Organizations: Service, AK Party, Reuters, Business, United, Saudi, NATO, EU, West, Brookings Institution, Russia, China, Eurasia Program, Center for Strategic, International Studies, Middle, Wilson Center, Wilson, of Europe, France Locations: Turkey, Ankara, Turkish, Brazil, Russia, India, China, South Africa, Ethiopia, Iran, Egypt, United Arab Emirates, Saudi Arabia, Ukraine, United States, Europe, France, West, Russian, U.S, Washington, Kazan

☆ 'Spook the West': Turkey's bid for BRICS both a strategic and symbolic step, analysts say
▼ + stars: | 2024-09-10 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

Turkish Foreign Minister Hakan Fidan attends the BRICS+ session on a two-day BRICS foreign ministers summit held in Nizhny Novgorod, Russia on June 11, 2024. BRICS, which stands for Brazil, Russia, India, China and South Africa, is a group of emerging market countries that seek to deepen their economic ties. Russian President Vladimir Putin shakes hands with Turkish President Recep Tayyip Erdogan during their joint press conference on September 4, 2023, in Sochi, Russia. The fact that it's led by China makes some in the West wary, who see this as a potential win for Beijing. Turkish President Recep Tayyip Erdogan (not seen) is welcomed by Chinese President Xi Jinping as part of the 11th G20 Leaders' Summit in Hangzhou, China, on September 3, 2016.

Persons: Hakan Fidan, Sefa, It's, George Dyson, Dyson, Matthew Bryza, Recep Tayyip Erdogan, Vladimir Putin, Russia —, Arda Tunca, Tunca, it's, Xi Jinping, Mehmet Ali Ozcan Organizations: Turkish, Anadolu, Getty, AK Party, NATO, Control, CNBC, EU, White House, Senior State Department, United Arab, Russia, West, China, Beijing, Anadolu Agency Locations: Nizhny Novgorod, Russia, Brazil, India, China, South Africa, Iran, Egypt, Ethiopia, UAE, Western, Turkey, Europe, U.S, Ankara, Istanbul, Ukraine, Saudi Arabia, United Arab Emirates, Russian, Sochi, United States, BRICS, Turkish, Hangzhou

☆ More countries are openly flaunting their ties with Putin. They say it's just business.
▼ + stars: | 2024-09-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewRussian President Vladimir Putin is having a very social year as his country continues to wage war in Ukraine. So far, Putin has met top leaders from Asian countries including China, India, Vietnam, and Indonesia. Russia is the BRICS chair this year, and Putin has invited Mongolia to join the group's summit in October. Russia's push for a multipolar world order resonates with countries who desire a more equitable international order.

Persons: —, Vladimir Putin, Putin, Sean McFate, McFate, Anwar Ibrahim, Ukhnaagiin Khürelsükh, couldn't, Russia —, Serik, Li Qiang's, Syracuse University's McFate, it's, Derek Grossman, Grossman Organizations: Service, Syracuse University Maxwell School of Citizenship, Public Affairs, Business, Malaysian, Criminal, ICC, World Bank, European Union, NATO, Bloomberg, Moscow, Central, European, EU, United Nations, RAND, Foreign Locations: Ukraine, China, India, Vietnam, Indonesia, Russia, North Korea, Iran, Mongolia, Mongolian, Russia's, European, Sri Lanka, Turkey, Kazakhstan, Central Asian, European Union, Moscow, Beijing, Europe, Syracuse, Brazil, South Africa, Malaysia, Switzerland, United States

☆ Gold and some non-dollar currencies start to shine, but it's not all about de-dollarization
▼ + stars: | 2024-08-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

AdvertisementThe amount of gold holdings in global reserves has doubled in just over five years, according to Bloomberg Intelligence analysis. "As the yellow metal carries no credit or counter-party risk, some deem it as being better insulated from financial sanctions, particularly those from the emerging world," wrote UBS' Czerwonko. Advertisement"The situation in competing jurisdictions is also dire; in the land of the blind, the one-eyed man can remain king," wrote Czerwonko. AdvertisementSimilarly, Bloomberg Intelligence said said a Wednesday report that a potential second Trump term could hasten a global currency regime change. "Any title toward isolationism in a Trump second term, such as altered US attitudes toward its role in NATO and international affairs would spur de-dollarization," wrote Bloomberg Intelligence analysts.

Persons: —, Alejo Czerwonko, Czerwonko, Trump Organizations: Service, UBS, Business, International Monetary Fund, Bloomberg Intelligence, Trump, NATO Locations: Ukraine, Moscow, Swiss, Americas

☆ Malaysia's BRICS bid is more about balancing U.S. and China ties, professor says
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMalaysia's BRICS bid is more about balancing U.S. and China ties, professor saysOng Kian Ming, pro vice-chancellor for external engagement at Taylor's University, says Malaysia's bid to join the BRICS group of emerging economies is more about that than "seeking our own legitimate economic interests."

Persons: Ong Kian Ming Organizations: Taylor's University Locations: China

☆ Putin wants to strengthen a big challenger to Western dominance
▼ + stars: | 2024-07-16 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The group is known as BRICS for original members Brazil, Russia, India, China, and South Africa, which collectively form the bloc's acronym. A parliamentary structure would formalize the group even further. AdvertisementA larger and more structured BRICS bloc could have more bargaining power and create an alternative to the West-led global order. Indian Prime Minister Narendra Modi visited Russia recently, even though New Delhi is in a strategic partnership with the US. But the BRICS group should not be counted out, wrote as Ian Bremmer, the president of the Eurasia Group, in a report earlier this month.

Persons: —, Vladimir Putin, BRICS, Putin, Rich Lesser, Sergey Lavrov, Narendra Modi, Modi, Ian Bremmer Organizations: Service, United, United Arab Emirates, Business, New Development Bank, Putin, Kremlin, Boston Consulting, UAE —, Russian, Indian, Eurasia Group Locations: West, Brazil, Russia, India, China, South Africa, Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, United Arab, Shanghai, St Petersburg, Thailand, Malaysia, UAE, New Delhi

☆ India's Modi to meet Putin in Moscow as both sides seek to forge deeper ties
▼ + stars: | 2024-07-08 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Russian President Vladimir Putin speaking to Indian Prime Minister Narendra Modi during their meeting at Taj Exotic Hotel on October, 15, 2016 in Benaulim, Goa, India. Mikhail Svetlov | Getty Images News | Getty ImagesIndia's Prime Minister Narendra Modi is set to meet President Vladimir Putin in Moscow on Monday, marking his first visit to the Kremlin since the invasion of Ukraine. Their meeting is significant as it's the Indian premier's first bilateral trip overseas since he was reelected for a rare third term in June. watch now"This trip will rankle many Western observers," an analyst at the Lowy Institute pointed out in a published commentary. India's refiners have been snapping up discounted Russian oil since the start of the Ukraine war.

Persons: Vladimir Putin, Narendra Modi, Mikhail Svetlov, Vinay Kwatra, Kwatra, India's, Lowy Organizations: Indian, Taj Exotic, Getty, India's, Kremlin, Shanghai Cooperation Organization, United Nations, East Asia Summit, Lowy Institute Locations: Benaulim, Goa, India, Moscow, Ukraine, Russia, Russian, Europe

☆ Modi to visit Moscow next week as Kremlin says ‘all issues on the agenda’
▼ + stars: | 2024-07-04 | by ( Rhea Mogul | ) edition.cnn.com time to read: +4 min

CNN —Indian Prime Minister Narendra Modi will visit Moscow next week for the first time since Russia invaded Ukraine, a sign of the growing relationship between the two countries even as New Delhi maintains strong ties with the United States. Modi’s visit is widely seen as the latest dent in efforts by Western leaders to cast Putin aside. India’s ties with Russia date back decades to the Cold War and have remained strong despite repeated sanctions on Moscow from Western governments. Confirmation of Modi’s visit comes as Russia draws ever closer to China, potentially making New Delhi uncomfortable due to its longstanding Himalayan border dispute with Beijing that has simmered in recent years. But Modi’s visit is set against the backdrop of India’s growing relations with the US, as both countries share concerns over China’s assertiveness in the Indo-Pacific region.

Persons: Narendra Modi, Modi, Vladimir Putin, ” Modi’s, China –, Modi’s, Putin, Xi Jinping, ”, Dmitry Peskov, Kim Jong Un, China’s, Joe Biden, Gan Organizations: CNN, Indian, India’s Ministry, External Affairs, Kremlin, Russia, United Nations Security Council, Shanghai Cooperation Organization, SCO, US, North Locations: Moscow, Russia, Ukraine, Delhi, United States, India, China, Western, New Delhi, Beijing, Kazakhstan, Pyongyang, Brazil, South Africa, Washington, Japan, Australia, ’

☆ Putin touts ‘stabilizing’ force of China-Russia ties as Xi hails ‘lasting friendship’ at security summit
▼ + stars: | 2024-07-04 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

“Russian-Chinese cooperation in global affairs serves as a main stabilizing factor on the international stage, and we continue to further enhance it,” Putin said. China has surpassed the European Union to become Russia’s top trade partner, offering a crucial lifeline to its heavily sanctioned economy. The two nuclear-armed neighbors have also continued to hold joint military exercises, including with Iran. Both moves are widely seen as part of a broader push by Xi and Putin to create an alternative world order that is no longer dominated by the West. Xi said Wednesday that China backed Russia’s role as BRICS chair this year in uniting the Global South, preventing a “new Cold War” and opposing hegemonism, according to state-run news agency Xinhua.

Persons: Hong Kong CNN — Russia’s Vladimir Putin, Xi, Putin, ” Putin, “, ’, ” Xi, ” Organizations: Hong Kong CNN, Wednesday, Shanghai Cooperation Organization, SCO, “, Union, Foreign Ministry, West, China, Xinhua Locations: Hong Kong, Kazakhstan, Russia, China, Russian, Moscow, Central Asia, United States, Belarus, Ukraine, Iran, Beijing, North Korea, Europe, “

☆ A growing club led by Xi and Putin to counter the US is adding a staunchly pro-Russia member
▼ + stars: | 2024-07-02 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

After adding Belarus, it will boast 10 members, representing more than 40% of the world’s population and roughly a quarter of the global economy. Growing ambitionsAs the SCO grows in international visibility and economic weight, it has also broadened in geopolitical ambitions. Putin speaks to Xi at the SCO summit two years ago in Samarkand, Uzbekistan. But the Belarus membership also creates big question marks that will hang over the organization, Gill said. After the summit in Astana, China is due to take up the rotating presidency of the SCO for a year.

Persons: Xi Jinping, Vladimir Putin, Narendra Modi, Moscow’s, ”, “, Eva Seiwert, Seiwert, Putin, Xi, Sergei Bobylev, Bates Gill, Gill, –, ” Gill, Modi, they’re Organizations: Hong Kong CNN —, Shanghai Cooperation Organization, Indian, SCO, Union, Mercator Institute for China Studies, ”, Putin, AP, National Bureau of Asian Research, “, Central, Modi, Astana –, Kremlin, Central Asia, NATO, European Union, Seven Locations: Hong Kong, China, Russia, Russian, Ukraine, Belarus, Astana, Kazakhstan, Beijing, Moscow, United States, Iran, Kyrgyzstan, Tajikistan, Uzbekistan, India, Pakistan, Afghanistan, Mongolia, Myanmar, Turkey, Berlin, “, Eurasia, Samarkand, Central Asia, New Delhi, Soviet, Xi’an

☆ Opinion: How South Africa’s former president Jacob Zuma used Trump’s playbook – and lost
▼ + stars: | 2024-06-26 | by ( Opinion Sean Jacobs | ) edition.cnn.com time to read: +13 min

But the figure of former President Jacob Zuma and his new political party uMkhonto – or simply “MK” – provoked more reaction. Jerome Delay/APMoreover, according to Herman, pro-Zuma conspiracy theories and propaganda, some with Russian fingerprints, had been flooding South African social media in the lead-up to the election. And even as Zuma takes pages from Trump’s playbook, South Africans may be telling a different narrative. Facing pressure, Zuma resigned as South African president in 2018. Though some South Africans still admire the US’ capitalist spirit, I find that the South African friends who visit me in the US don’t always feel at ease anymore.

Persons: Sean Jacobs, Cape Town CNN —, Read, Nelson Mandela –, Jacob Zuma, uMkhonto, ”, –, Herman Wasserman, Herman, Zuma, Donald Trump’s, Jerome Delay, Trump’s, Mandela, Michele Spatari, Duduzile, Jacob Zuma's, MK’s, Zuma’s, “, jestingly liken Donald Trump, Jacob Zuma of, Putin, playbook, Nelson Mandela, Alexander Joe, Trump, “ I’ve, it’s Biden, won’t Organizations: CNN, New School, Cape Town CNN, African National Congress, Zulu, Stellenbosch University, Former South, ANC, Getty, Democratic Alliance, DA, South, Trump, Jacob Zuma of America, Durban, International Court of Justice, Global Locations: Africa, South Africa, Stellenbosch, Cape Town, America, Taiwan, Germany Riding, United States, Orlando, Soweto, Johannesburg, Trump’s playbook, South, Robben, Orange Farm, AFP, Cape, Durban, Russia, States, China, Israel, New York City

☆ India’s Modi to visit Moscow soon, Russian state media says
▼ + stars: | 2024-06-26 | by ( Rhea Mogul | ) edition.cnn.com time to read: +2 min

Preparations are being made for Modi’s visit to Moscow and dates will be announced soon, Kremlin spokesperson Yuri Ushakov said, according to Russia’s state-owned TASS news agency. “I can confirm that we are preparing a visit by the Prime Minister of India,” he said, according to TASS. India’s ties with Russia date back decades to the Cold War and have remained strong despite repeated sanctions on Moscow from Western governments. At the same time, India’s ties with the United States have grown stronger, amid shared concerns over China’s assertiveness in the Indo-Pacific region. Modi met with US President Joe Biden during a state visit to Washington last June, in a trip further cementing their defense, trade and technology partnership.

Persons: Narendra Modi, Yuri Ushakov, ”, India’s, Modi, Vladimir Putin, Putin, China –, China’s, Joe Biden Organizations: CNN, Indian, TASS, Affairs, Shanghai Cooperation Organization, Russia, United Nations, Kremlin, SCO Locations: Russia, Ukraine, Washington, Moscow, India, Russian, Uzbekistan, New Delhi, Western, China, United States, ’, Japan, Australia

☆ How Chinese EV makers are slowly taking over the world
▼ + stars: | 2024-06-22 | by ( Tom Carter | ) www.businessinsider.com time to read: +14 min

Chinese carmakers accounted for 88% of the EV market in Brazil and 70% in Thailand in Q1, according to ABI Research figures. The EV markets in many of these countries are small now, but they're growing rapidly. This is because Chinese automakers are known for their ability to build electric cars for less than their foreign competitors. Australian Senator and shadow cyber-security minister James Paterson said earlier this year that Chinese EVs pose a growing cybersecurity risk. "India is still a little wary of the Chinese market," said Dylan Khoo, an analyst at ABI Research.

Persons: —, BYD, Joe Biden, Bill Russo, Susan Walsh Sam Fiorani, Luiz Inácio Lula da Silva, São Paulo, Luiz Inacio Lula da Silva, Marcel Martin, Katherine Tai, Elon Musk, SONNY TUMBELAKA, They're, Automobility, Tesla, John Keeble, James Paterson, Fiorani, Indranil Aditya, Dylan Khoo, Warren Buffett, Xpeng, William Li, HECTOR RETAMAL, America's, Russo, WuYuan Organizations: Service, Detroit, EV, Business, Research, Ford, Toyota, Volkswagen, EU, AP, AutoForecast Solutions, Brazilian Electric Vehicle Association, Great Wall Motors, Anadolu Agency, Getty, International Council, Clean Transportation, Chery, Total, China Passenger Car Association, Reuters, Honda, Mitsubishi, International Energy Agency, Federal, of Automotive Industries, SAIC, AutoForecast, BYD, SAIC Motors, India's, ABI Research, Union Locations: Camaçari, Brazilian, Bahia, Brazil, Mexico, Southeast Asia, Europe, Thailand, China, Shanghai, EU, São, Johannesburg, South Africa, Southeast Asia Southeast Asia, Malaysia, Vietnam, Indonesia, Indonesia's West Java, Philippines, Australia, Hangzhou, Queensland, India India, India, Europe Europe, Hungary, France, Spain, Portugal, South Korea

☆ How a Saudi pullback from a landmark US deal is bad news for dollar dominance
▼ + stars: | 2024-06-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Saudi Arabia has not renewed a deal that ensures the use of US dollars in the oil trade. The end of this "petrodollar" agreement will dent dollar dominance, the Atlantic Council wrote. This month, Saudi Arabia did not renew a 1974 accord that mandates the exclusive use of greenbacks when selling its crude oil. What's more, US dependence on Saudi oil has slid considerably, given a historic explosion in US domestic production. "China has become Saudi Arabia's largest oil customer, accounting for more than 20% of the kingdom's oil exports.

Persons: —, nonresident, Hung Tran, Tran, What's Organizations: Atlantic Council, Service, Saudi Locations: Saudi Arabia, Europe, American, China, Saudi, Beijing, Riyadh

☆ China's yuan is tumbling amid US sanctions and as central banks boost dollar holdings
▼ + stars: | 2024-06-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

China's yuan is falling as holders eye the risk of western sanctions. AdvertisementChina's yuan is in the midst of a steep decline as holders of the currency eye the risk of US sanctions. Central banks, meanwhile, are looking to dump the yuan while raising their holdings of the US dollar. Nearly 20% of central bank reserve managers said they planned on raising dollar holdings over the next one to two years, while 12% said they planned on reducing yuan holdings, according to a survey from the Official Monetary and Financial Institutions Forum. Lawmakers are reportedly already drafting sanctions to impose against Chinese banks, sources told The Wall Street Journal in April.

Persons: —, Yuan, They've Organizations: US Treasury, Service, Russia's, Monetary, Financial, Treasury, Lawmakers, Wall Street Journal, Bloomberg Locations: China, Russia, Ukraine, Moscow

☆ Putin arrives in Vietnam as Russia seeks support in face of Western isolation
▼ + stars: | 2024-06-19 | by ( Helen Regan | ) edition.cnn.com time to read: +7 min

Considered a pariah by the West, Putin is looking to boost economic ties with friendly countries and show that Western isolation is not having an impact. Vietnam was among several Southeast Asian countries that abstained from joining a global summit on Ukraine in Switzerland last week. Last week, Vietnam sent a delegation led by its Deputy Minister of Foreign Affairs to attend the BRICS Foreign Ministers’ Summit in Russia. Analysts say Russia is likely to get more out of the visit than Vietnam, and Hanoi may even suffer reputational damage by hosting Putin following his trip to North Korea. “If no substantive deals are made, the visit will mainly be symbolic and a means for Putin and Russia to show the world that Western sanctions against Russia are not working,” said Le.

Persons: Vladimir Putin, Kim Jong, Putin, Nguyen Phu Trong, Lam, Minh, Yury Ushakov, Xi Jinping, Joe Biden, ”, Le Hong Hiep, – Yusof, Le, ” Putin, Xi, –, John Kirby, Anwar Ibrahim Organizations: CNN, West, US, Reuters, Communist Party General, Vietnam’s, Vietnam News Agency, ” TASS, TASS, ”, Vietnam Studies, International Criminal Court, ICC, United Arab, Foreign Ministry, Foreign Affairs, ’ Summit, Analysts, Putin Locations: Hanoi, North Korea, Ukraine, Vietnam, Moscow, United States, China, Russia, Pyongyang, Russian, Soviet, India, US, South China, Switzerland, Beijing, Kazan, Iran, Saudi Arabia, United Arab Emirates, Ethiopia, Egypt, Malaysia, BRICS, “

☆ Putin arrives in North Korea for first visit in 24 years as anti-West alignment deepens
▼ + stars: | 2024-06-18 | by ( Simone Mccarthy | Anna Chernova | ) edition.cnn.com time to read: +9 min

Following his visit to North Korea, Putin is scheduled to travel to Hanoi in a display of Communist-governed Vietnam’s ties to Russia that is likely to rankle the United States. Putin’s trip to North Korea will have a “very eventful” agenda, his aide Yuri Ushakov said during a press conference Monday. One image was of a grandstand being constructed on the eastern side of Kim Il Sung Square, the site where all major parades in North Korea are held. Putin arrives in North Korea on Tuesday, June 18. But Russia’s apparent increasing reliance on North Korea and rising frictions with the West appear to have shifted that dynamic.

Persons: Vladimir Putin, Kim Jong Un, Putin, Kim, Yuri Ushakov, Ushakov, Kim Il, John Kirby, Biden, wasn’t “, ’ Kim, ” Kim, ”, Volodymyr Zelensky, Putin’s, Defense Lloyd Austin, “, ” Putin, Kim Jong Il, Xi Jinping, Michael Mitsanas, Katharina Krebs, Mariya Knight, Yoonjung Seo, Betsy Klein, Paul P, Murphy Organizations: CNN, TASS, Putin, Planet Labs, Maxar Technologies, US, North Korean, North, South Korea’s, Chiefs of Staff, West, Ukrainian, Kyiv, NATO, Ukraine, Defense, Kremlin, United Nations Security, UN Locations: North Korea, Pyongyang, Ukraine, Korean, Korea, Hanoi, Russia, United States, Asia, Moscow, North, Zarubinreporter, South Korea, South, Russia’s, Eurasia, Italy, Kyiv, Russian, Vietnam, Beijing, China, Iran, South Africa, Brazil

☆ Malaysia preparing to join BRICS economic group, media report says
▼ + stars: | 2024-06-18 | by ( ) www.cnbc.com time to read: +1 min

A general view of flags of (From L to R) South Africa, Brazil, Russia, India and China during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg on August 24, 2023. Malaysia is preparing to join the BRICS group of emerging economies, Prime Minister Anwar Ibrahim said in an interview with Chinese media outlet Guancha. The BRICS group of nations originally included Brazil, Russia, India, China, and South Africa, which gave it the acronym. The group last year began to expand its membership as it looks to challenge a world order dominated by Western economies, with Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates joining and more than 40 countries expressing interest. "We have made a decision, we will be placing the formal procedures soon... we are just waiting for the final results from the government in South Africa," Anwar said, according to a video of the interview posted by Guancha on Sunday.

Persons: Anwar Ibrahim, Anwar, Guancha Organizations: United Arab Emirates Locations: South Africa, Brazil, Russia, India, China, Sandton, Johannesburg, Malaysia, Saudi Arabia, Iran, Ethiopia, Egypt, Argentina

☆ Russia’s Putin to visit North Korea in rare trip as anti-West alignment deepens
▼ + stars: | 2024-06-17 | by ( Simone Mccarthy | Anna Chernova | ) edition.cnn.com time to read: +6 min

Following his visit to North Korea, Putin will travel to Hanoi Wednesday for another two-day trip, in a display of Communist-governed Vietnam’s ties to Russia that is likely to rankle the United States. Both countries have denied North Korean arms exports. The Kremlin has said that Russia hopes to build a partnership with North Korea “in all possible areas,” according to Russian state media. Putin’s move to bolster North Korean ties has also been a boon for Kim, who remains unbowed by years of international sanctions over his illegal nuclear weapons program. But Russia’s apparent increasing reliance on North Korea and rising frictions with the West appear to have shifted that dynamic.

Persons: CNN — Vladimir Putin, Kim Jong Un, Putin, Kim, ” Kim, Volodymyr Zelensky, Putin’s, Defense Lloyd Austin, “, ”, ” Putin, Kim Jong Il, Xi Jinping Organizations: CNN, Kremlin, Putin, North Korean, Pyongyang –, North, North Korea “, Ukrainian, Kyiv, NATO, Ukraine, Defense, United Nations Security, UN Locations: North Korea, Russian, Ukraine, Pyongyang, Hanoi, Russia, United States, South Korea, Moscow, Korean, Russia’s, Italy, Kyiv, Beijing, China, Iran, South Africa, Brazil

☆ Key holdouts at a Ukrainian diplomatic summit are proof that Putin's diplomatic playbook is working
▼ + stars: | 2024-06-17 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Read previewOver the weekend, Ukraine's President Volodymyr Zelenskyy rallied countries from around the world to support his call for Russia to end its invasion. It has been especially effective in the "global South" of non-Western powers whose wealth and influence on world affairs is growing. AdvertisementHowever, powerful non-Western countries refused to take part. Russia has also seized on claims that Western support for Israel in its war against Hamas is evidence of hypocrisy. AdvertisementIt is to Putin's advantage when those countries see Russia vs. Ukraine and Israel vs. Hamas as equivalent struggles, both complex enough to avoid taking a side.

Persons: —, Volodymyr Zelenskyy, Zelenskyy, Russia wasn't, didn't, Ukraine —, Vladimir Putin, Putin, Natalie Sabanadze, Pavan Kapoor Organizations: Service, BBC, Business, Ukraine, West, Chatham, ANC, Israel, Hamas Locations: Russia, Switzerland, China, Saudi Arabia, Brazil, India, South Africa, Ukraine, American, Moscow, Soviet, West, USSR, Soviet Union, Pakistan, Western, Israel, Indian

☆ Major Ukraine summit ends with fresh plea for peace but key powers spurn final agreement
▼ + stars: | 2024-06-16 | by ( Joshua Berlinger | Niamh Kennedy | ) edition.cnn.com time to read: +4 min

CNN —A two-day summit in Switzerland dedicated to forging a path forward to end the war in Ukraine concluded with key powers spurning a joint communique agreed to by more than 80 other countries and international organizations. The world cares deeply about the war provoked by Russia’s aggression,” European Commission President Ursula von der Leyen said. The sides also said that all children and civilians that were unlawfully displaced must be returned to Ukraine. And Ukraine must disarm so that is vulnerable to future Russian aggression down the road. No responsible nation could say that is a reasonable basis for peace,” Sullivan said.

Persons: spurning, Volodymyr Zelensky, Zelensky, Vladimir Putin, Kamala Harris, Ursula von der Leyen, Jake Sullivan, ”, Putin, ” Sullivan Organizations: CNN, United Arab, European Union, Kremlin, NATO, Russian, Luhansk –, US National Security, Ukrainian Locations: Switzerland, Ukraine, India, Saudi Arabia, South Africa, United Arab Emirates, Russia, Ghana, Canada, Chile, Lucerne, Argentina, Denmark, Finland, France, Germany, Italy, Japan, Netherlands, Poland, Sweden, United Kingdom, China, Moscow, Russian, Donetsk, Luhansk, Kherson, Zaporizhzhia, Harris

☆ Russia adopts Chinese yuan-to-ruble as benchmark exchange rate after US sanctions force a further move away from the dollar
▼ + stars: | 2024-06-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Read previewMoscow is adopting the Chinese yuan-to-ruble exchange rate as its benchmark currency pair after the US expanded sanctions against Russia on Wednesday, the country's central bank said on Thursday. The new US sanctions prompted the Moscow Exchange to end dollar and euro trading on Thursday, causing confusion — since the exchange rate is now opaque. Related storiesRussia's central bank appeared to seek to calm the market in a statement on Thursday. AdvertisementThe central bank added in its statement to Russia's RBC News that the yuan has become "the main currency" on the Moscow Exchange. It will "set the trajectory for other currency pairs" and be the guideline for market participants, the central bank said.

Persons: —, Vladimir Putin, Russia — Organizations: Service, Russia, Business, TASS, RBC, Moscow Exchange Locations: Moscow, Russia, Ukraine, Russia's

☆ Russia says it's working with a group of countries to build a platform that doesn't need the dollar
▼ + stars: | 2024-06-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

A group of emerging countries are planning a payments platform to bypass the US dollar, Lavrov announced. The initiative follows a BRICS summit call for trade in national currencies. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA group of major emerging countries is working on a way around the dollar — but they face an uphill battle to diminish the greenback's dominance. On Monday, Russian Foreign Minister Sergey Lavrov said BRICS countries are developing a payments platform that will allow them to bypass the US dollar, per TASS, a state news agency.

Persons: Lavrov, —, Sergey Lavrov, South Africa — Organizations: Kazan, Service, Russian, Business Locations: Johannesburg, Brazil, Russia, India, China, South Africa

☆ What the US can do to halt de-dollarization, according to one think tank expert
▼ + stars: | 2024-06-11 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

The US can counter de-dollarization efforts, a think tank expert says. Currency experts have sounded the alarm on what it could mean for the dollar hegemony in global trade and finance. To that end, the US should look to prevent counter-coalitions from forming, and do so by seeking out healthy foreign policy and positive trade partnerships, she said. To prevent the trend from accelerating further, the US should also actively pursue dollar stability through tech-based financial solutions, such as developments in digital payments. The same argument was posed by two other think tank experts on Monday, who warned that internal US dysfunction was the real threat to the dollar.

Persons: —, Carla Norrlöf, Norrlöf, it's, dollarization Organizations: Service, greenback, Project Syndicate, Atlantic Council Locations: Russia, China, Washington

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