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.

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

Iran will soon accept Russian payment system for international shoppers

Once Mir cards are accepted in Iran, tourists and visitors from Russia can shop in Iran without having to use cash

Iran Central Bank and Tehran Stock Exchange launch trade in Russian rubles

Earlier this week, Moscow expressed interest in dropping the US dollar for their bilateral trade with Iran

Syrian refugees face growing xenophobia in Lebanon as economic crisis worsens

Politicians and the media blame Lebanon's economic woes on refugees, despite international organizations pointing at the financial elite as the cause of the manufactured crisis

The Sanctioned Ones: How Iran-Russia are setting new rules

While China, keen to ward off US sanctions as long as possible, is lagging, its RIC partners Iran and Russia are doing the legwork to break the west's global financial grip.

Revenue from Iran’s energy exports up 60 percent despite US sanctions

Trade statistics in Iran have been increasing in various sectors as Iran seeks to improve its economic standing, regardless of the outcome of the Vienna talks

Fuel prices in Lebanon reach new heights as currency continues to depreciate

Lebanon has also been hit hard by a growing food crisis exacerbated by the conflict in Ukraine

Taliban reaffirm commitment to protect Iran’s diplomatic missions in Afghanistan

Taliban officials have reiterated Kabul's determination to expand their relationship and general cooperation with Tehran

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.

Iran suspends consular activities in Afghanistan over attack on consulate

Afghanistan’s chargé d'affaires was notified that all consular sections of Iran’s missions in Afghanistan have suspended their services until further notice

‘Rublegas:’ the world’s new resource-based reserve currency

Rublegas is the commodity currency du jour and it isn’t nearly as complicated as NATO pretends. If Europe wants gas, all it needs to do is send its Euros to a Russian account inside Russia.