UAE becomes Russian gold trade hub due to western sanctions

The wealthy Gulf state has become an important outlet for Russian trade and investment following the imposition of western sanctions due to Russia’s war with Ukraine

Say hello to Russian gold and Chinese petroyuan

The Russia-led Eurasia Economic Union and China just agreed to design the mechanism for an independent financial and monetary system that would bypass dollar transactions.

Russian oil floods global markets via major Asian intermediaries

Despite western sanctions, there is more Russian fuel being exported around the world than before the Ukraine crisis. It's just coming via Saudi Arabia, India, China, and other trading states – with steep commissions.

BRICS nations working on ‘fundamentally new currency’: Russian official

The US dollar's hegemony in international markets continues to deteriorate partly due to the Global South's refusal to enforce western sanctions against Russia

Global South: Gold-backed currencies to replace the US dollar

The adoption of commodity-backed currencies by the Global South could upend the US dollar’s dominance and level the playing field in international trade.

Asia’s future takes shape in Vladivostok, the Russian Pacific

Sixty-eight countries gathered on Russia's far eastern coast to listen to Moscow's economic and political vision for the Asia-Pacific

A Russian wrench in Vienna halts US dash for the finish line

In an eleventh-hour shot across Vienna's bow, the Russians challenged the US 'weaponization of the dollar' with the 'weaponization of the atom.'

Exclusive: Russia’s Sergey Glazyev introduces the new global financial system

The world's new monetary system, underpinned by a digital currency, will be backed by a basket of new foreign currencies and natural resources. And it will liberate the Global South from both western debt and IMF-induced austerity.

Assad in Jeddah: Tangibly, what does this mean for Syria?

Arab reconciliation with Syria is a two-way street, with both sides seeking important concessions from each other. While all solutions can be found within a grand regional compromise, not all Arab states will be willing to challenge Washington's red lines.

De-dollarization kicks into high gear

The US dollar is essential to US global power projection. But in 2022, the dollar share of reserve currencies slid 10 times faster than the average in the past two decades.

The historic US-Saudi relationship cannot bounce back

US imports of Saudi oil are at historic lows, Chinese purchases of Saudi oil continue to grow, and Russian-Saudi energy interests have fully converged. If it's 'all about the economy,' then Saudi-US ties may never quite recover.

ASEAN nations meet, discuss dumping US Dollar, Euro for trade

Indonesia has urged its regional partners to also move away from using Visa and Mastercard to avoid the repercussions of western sanctions on Russia

In Moscow, Xi and Putin bury Pax Americana

In Moscow this week, the Chinese and Russian leaders revealed their joint commitment to redesign the global order, an undertaking that has 'not been seen in 100 years.'

Sergey Glazyev: ‘The road to financial multipolarity will be long and rocky’

In an exclusive interview with The Cradle, Russia's top macroeconomics strategist criticizes Moscow's slow pace of financial reform and warns there will be no new global currency without Beijing.

New wave of US sanctions target MTS Bank in UAE

Due to the UAE's significant security and economic relationship with the US, enforcement of sanctions targeting Russian interests in the emirate have been lax

AP report shows Ukrainian commander wearing ISIS insignia

Washington has relied on both Salafist and Neo-Nazi extremist groups in Syria and Ukraine to fight as its proxies

Iran’s revolution at 44: A struggling economy with big potential

Forty-four years on from the Islamic Revolution, Iran boasts a more diversified economy, advances in technology, and major development milestones - despite decades of western sanctions aimed at hindering such progress.

The Big Stiff: Russia-Iran dump the dollar

News of Russian banks connecting to Iran’s financial messaging system strengthens the resistance against US-imposed sanctions on both countries and accelerates global de-dollarization.  

Hezbollah supports president who does not shy away from US threats: Nasrallah

The Hezbollah leader claimed Lebanon is being prevented from exploiting 'huge wealth' in its territorial waters and said the US is still pursuing proxy wars to control West Asia

By the numbers: The de-dollarization of global trade

Data suggests that US dollar reserves in central banks are dwindling, as is the influence of the US on the world economy. This presents a unique opportunity for regional currencies and alternative payment systems to enter the vacuum.

US company to build West Asia’s largest ethane cracker in Qatar

In November, Qatar invested $8.5 billion to build a polymers facility in Orange, Texas, as part of its economic diversification campaign

South Caucasus: A battle of wills and corridors

Azerbaijan and Turkiye are gunning to establish the “Zangezur corridor,” in direct conflict with Iran and Armenia’s interests as it entails the blockade of the Lachin corridor – a lifeline for the ethnic Armenians of Nagorno-Karabakh.

Xi of Arabia and the petroyuan drive

Xi Jinping has made an offer difficult for the Arabian Peninsula to ignore: China will be guaranteed buyers of your oil and gas, but we will pay in yuan.

Everybody wants to hop on the BRICS Express

Eurasia is about to get a whole lot larger as countries line up to join the Chinese and Russian-led BRICS and SCO, to the detriment of the west

Egyptian central bank announces plan to move currency away from US dollar

The central bank chief says the Egyptian pound must be pegged 'against every currency,' not just the greenback

‘Peaceful modernization’: China’s offering to the Global South

Xi Jinping just offered the Global South a stark alternative to decades of western diktats, war, and economic duress. 'Peaceful modernization' will establish sovereignty, economy, and independence for the world's struggling states

Michael Hudson: A roadmap to escape the west’s stranglehold

The geoeconomic pathway away from the neoliberal order is fraught with peril, but the rewards in establishing an alternative system are as promising as they are urgent

Who profits from Pipeline Terror?

Secret talks between Russia and Germany to resolve their Nord Stream 1 and 2 issues had to be averted at any cost

‘Samarkand Spirit’ to be driven by ‘responsible powers’ Russia and China

The SCO summit of Asian power players delineated a road map for strengthening the multipolar world

USAID earmarks $29.5mln for Lebanon to counter aid offers from Iran and Russia

The donation from Washington comes at a time when both Moscow and Tehran are awaiting a response from Lebanese officials to provide the country with grain and fuel