Iran, Pakistan discuss banking cooperation and de-dollarization

During the 51st meeting of ACU member states, the central bank chiefs of Iran and Pakistan discussed linking payment systems and ‘reducing dependency on dominant currencies’

The first China-UAE gas deal in yuan: A new blow to dollar dominance

Chinese allies control 40 percent of OPEC+ oil reserves, and the GCC controls another 40 percent. With this China-UAE gas trade settled in yuan, the petrodollar today is under serious threat.

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.

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.

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.

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.

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

Russia requests oil payments from India in UAE currency: Report

The UAE and India are among the many nations refusing western diktats to cut ties with Russia in the wake of the war in Ukraine

Will the Global South break free from dollarized debt?

In his latest book, economist Michael Hudson pits socialism against finance capitalism and tears apart the 'dream civilization' imposed by the 1 percent.

Iran to legalize crypto payments to enter international trade

Officials say that Central Bank of Iran has worked for two years on researching and developing a platform and infrastructure for a domestic cryptocurrency

Russia, Turkey launch new economic ‘roadmap’

The Putin-Erdogan meeting in Sochi has rapidly accelerated Russian-Turkish economic initiatives and financial ties. These include bypassing western sanctions, integrating money transfers, and trading outside the dollar.

The US plan to counter China and Iran in West Asia 

The US recognizes China's influence and Iran's dominance in West Asia, but its sluggish and ineffective responses not only hamper Washington's ability to counterbalance the eastward shift but also inflicts damage on its dwindling reputation as a trusted partner.

The Sultan 2.0 will heavily tilt east

It's not that Erdogan has a scheme to head east at the west's expense. It's just that the world's grandest infrastructure, development, and geopolitical projects are all in the east today.

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

Iraq welcomes new agreement to expand energy ties with Iran

As a result of US sanctions, Iraqi payments for Iranian fuel face multiple complications

Ankara seeks to prop up Turkish lira ahead of elections

The runaway depreciation of the lira and high inflation remain key issues ahead of Turkiye’s crucial elections

Ericsson fined $207m for concealing internal probe into bribes paid to ISIS

The Swedish company was involved in a large scale corruption scheme across several Asian countries

Syria under the American whip: Sanctions that kill

The western sanctions weapon is not new to Syria, but since 2019 it has become a lethal one, destroying entire Syrian sectors and killing its people.

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

Can western intel agencies spy on Hezbollah via crypto?

Although branded as a safe and secure mode of transaction, cryptocurrency networks are still vulnerable to hacking. In sanctions-hit and economic crisis-ridden Lebanon, this poses an existential threat to all Lebanese.

Major Russian bank introduces transaction service with Iran

Lately, Iran and Russia have been stepping up banking and trade cooperation in an effort to confront an aggressive western sanction policy

Chinese leader urges GCC nations to adopt yuan, Shanghai exchange for oil and gas trade

Xi Jinping called China and Gulf nations 'natural partners' and urged regional leaders to be partners in promoting unity, development, and security

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

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

‘It won’t happen overnight’: Lebanese PM on new official exchange rate

Lebanese authorities are looking to close the gap between the 'official' exchange rate and the widely used black market rate in order to receive an IMF loan

Lebanon’s central bank chief guilty of embezzling millions in public funds

Official documents show Riad Salameh laundered millions using real estate owned by shell companies linked to his close relatives, and did so with full impunity from other central bank authorities

Russia looking to bolster reserves with Turkish, Chinese currencies

Russia, along with several other sanctioned nations, has begun moving away from western currencies in order to overcome sanctions

Five major Turkish banks adopt Russian payment system

Western nations are reportedly on high alert about Ankara's flourishing economic ties with Moscow

Russia in Africa: Connecting continents with soft power

Rather than continental, Russian and Chinese-led infrastructural development in Africa should be seen as part of a grander project of Afro-Asiatic integration