No respite for Lebanon as lira hits 100,000 per US dollar

Lebanon's political class has done little to slow down the economic freefall, as parliament has been gridlocked for five months over the election of a president

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.

Saudi Arabia open to dropping US dollar for international trade: Finance Minister

Economists have warned that the greenback is headed for a major crash due to a ballooning national debt and a budget deficit that surpasses $1 trillion

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

India dumps US dollar for UAE dirham, Chinese yuan in Russian coal trade: Report

Russia became India's third-largest coal supplier after New Delhi began to move away from the US dollar in their bilateral trade

Iran and Russia ready to drop US dollar in bilateral trade: Kremlin

President Ebrahim Raisi and Vladimir Putin have moved to increase cooperation in order to overcome unilateral US sanctions

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.  

The US holds Iraq hostage with the dollar

Since 2003, Iraq is required to send all its oil revenues to a single US bank account. Washington is now weaponizing Baghdad's own dollars against Iraq, by devaluing its currency and hindering payments.

Strong dollar pushes Lebanese pound to record high on black market

Since 2019, Lebanon has been experiencing the worst economic collapse in modern history, as a result of rampant corruption within the state and among the financial elite

UAE suspends billion-dollar arms deal with US over efforts to restrict Chinese technology

UAE suspends billion-dollar deal with US days after it signed a similar deal with France

Arab leaders offer Syria billions in aid, sanctions relief if Assad pushes back against Iran: WSJ

Arab leaders offered Assad help in lobbying the west to lift crushing economic sanctions, despite Washington's disinterest in loosening its grip on Damascus

US congress votes against ending occupation of Syria

Around 900 US troops remain illegally stationed in Syria, controlling large swathes of the country's oil-rich regions

Will Pakistan defy US sanctions to complete ‘Peace Pipeline’ with Iran?

Pakistan risks major financial setbacks if it fails to construct its part of a gas pipeline with Iran. Islamabad must follow India's lead in resisting US sanctions to secure vital national energy supply.

Russia MOEX exchange begins trading in Turkish lira

The MOEX Russia Index is the main ruble-denominated benchmark of the Russian stock market

From Russia with Love: Su-35s to Iran will strengthen defense ties

Iran's possible purchase of Russian fighter jets would further solidify the existing strategic partnership between Moscow and Tehran, and impact their global power competition with the west.

In a US-China confrontation, West Asia will bow out

A significant increase in geopolitical and economic ties with China has offered West Asian states an alternative to the US, which has traditionally been the region's security guarantor.

US judge allows PGA tour to sue MBS-led sovereign wealth fund

MbS has used the PIF as an integral asset to overhaul Riyadh's dependency on oil

Iraqi central bank to drop dollar for yuan in trade with China

Iraq is the latest nation in the Global South to move away from the US dollar in bilateral trade with China

Washington’s Dollar-and-Stick ploy with Iraq

Iraqi officials are in Washington to discuss “economic reforms” but are in fact being pressured to shun Iranian energy imports in the hope of having US sanctions and dollar rations lifted.

US weighs sanctions on Lebanon’s central bank chief over ‘Hezbollah ties’

Riad Salameh, a close ally of the US embassy, is being accused of 'providing dollars to Hezbollah and Syria'

Billions of dollars flow out of Israel over judicial reform concerns

Experts claim that if the withdrawal of capital from Israeli banks continues, the Israeli government will place restrictions on capital flow

Saudi Arabia eager to join SCO, BRICS: Russian diplomat

The Gulf nation’s membership in the SCO is being actively discussed, while the idea of joining BRICS is under consideration

Tens of thousands protest against Israeli government judicial reform

Several businesses, including law firms and tech startups, have granted permission to employees to join the wide-scale protests

US vows to strengthen Iraq’s ‘economic integration’ across West Asia

Many have criticized Iraq’s economic over-dependence on Washington, which the US has been accused of trying to capitalize on to the detriment of Baghdad

Indian refiners purchase Russian crude in Emirati currency: Report

India has disregarded pressure imposed by western nations, and continues to engage in trade and energy cooperation with Russia

US Treasury official issues warning to Turkiye, UAE regarding evasion of sanctions

Ankara has pledged that international sanctions will not be circumvented in Turkiye

White House asked Israel to send Hawk missiles to Ukraine: Report

Israeli officials rejected the request, as Tel Aviv has so far tried to protect its security ties with both the US and Russia

US sanctions individuals in Lebanon for alleged Hezbollah connections

Lebanese money exchanger Hassan Moukalled is at the center of the sanctions

Saudi Arabia to continue talks with Russia to stabilize oil prices

The price of Brent crude increased to $130 a barrel last year, and currently stands at $86.30 a barrel

UAE, India discuss settling non-oil trade in rupees: Report

China also considered settling non-oil trade in local currencies that do not include the dollar