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.

Russia and its national Arctic passage: Pushing trade frontiers eastward

Ice-free Arctic routes created by climate change have opened up the first new global shipping route in a century. The Russian-developed water passage is bound to disrupt the lengthier Atlantic-centric routes for global commerce.

Annual trade between Iran, Oman expected to reach $2bn

During a visit to Muscat, Iranian foreign minister Hossein Amir-Abdollahian delivered a letter from President Ebrahim Raisi that stressed the importance of advanced bilateral cooperation

Turkiye, Algeria to increase trade by $10bn

1,400 Turkish companies have invested a net amount of $5 billion in Algeria this year

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

UAE’s global trade increased by 19 percent in first 9 months of 2022

The country's foreign trade volume is expected to reach $599 billion by the end of the year

Saudi Arabia and China to boost energy cooperation

The decision to bolster energy cooperation between Riyadh and Beijing has been seen by experts as a slight to Washington

West cannot solve global energy crisis by bullying and sanctioning nations: Turkey

Ankara called on western nations to stop antagonizing Iran, Venezuela, and Saudi Arabia at a time when a large part of the world has been blocked from purchasing Russian oil and gas

Global finance vs global energy: who will come out on top?

There is more to the current struggle between the oil-consuming west and the oil-producing nations than meets the eye and it runs far deeper than the war in Ukraine

Putin receives UAE president in Moscow to discuss energy markets, international issues

Before Sheikh Mohamed bin Zayed al-Nahyan arrived in Moscow, he visited Serbia to discuss mutual cooperation between the two countries

Ted Cruz tries to derail US-brokered energy sharing plan for Lebanon

The plan has failed to materialize since it was first proposed, due to a US reluctance to exempt the states and companies involved from Caesar Act sanctions

German chancellor visits Gulf, signs energy security deal with UAE

Scholz's tour is part of Germany's latest efforts to diversify its energy supply amidst a looming energy crisis

Turkey hikes energy costs as inflation soars

The Turkish president’s controversial economic policies have contributed the country’s deteriorating economy

Iran and Russia carry out first-time trade in national currencies: Official

The two nations also announced a gas swap deal that will be implemented 'soon'

UK to significantly reduce tariffs in trade with Syria

London is moving to give 'enhanced trading status' to several developing nations in order to soften the blow of losing access to Russian energy

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

Israel sets to reopen trade office in Turkey to expand relations

Bilateral trade between Tel Aviv and Ankara rose to 30 percent last year, reaching $7.7 billion

Iran, Kazakhstan sign cooperation agreements set to increase trade to $3 billion annually

The visit by President Tokayev comes shortly after the visit of the foreign minister of Pakistan, and the presidents of Venezuela and of Turkmenistan

‘Trade between Turkey and Venezuela will reach $1bln in 2022’: Erdogan

The Venezuelan president travelled to Algeria after his meeting with Erdogan, and Iranian media reports revealed he is also set to visit the Islamic Republic

Lebanese energy minister visits Syria to discuss energy transfer plan

The long-awaited plan to receive energy transfer from Egypt via Syria has stalled due to US refusal to grant sanction waivers to the nations involved

World Bank refuses to fund US-brokered energy plan for Lebanon

Aside from lack of funding, the project to transfer Egyptian and Jordanian energy to Lebanon via Syria requires a sanctions waiver guarantee from the US, which is yet to be issued

Egypt still waiting for US clearance to transfer energy to Lebanon

Despite ongoing assurances from US officials, Beirut has been waiting for months for the start of energy transfers from Egypt and Jordan

Turkey inflation reaches 61 percent amid soaring energy prices

The conflict in Ukraine has caused a surge in global commodity prices, threatening Turkey’s latest economic program which aims to achieve account surplus

Israel begins talks with UAE to establish free trade agreement

The announcement comes on the same day the Israeli energy minister called for the cancellation of a major oil deal between Tel Aviv and Abu Dhabi

‘Not a choice, but necessity:’ Iran, India recalibrating ties amid geopolitical shifts

Following a drop in trade brought on by US sanctions, New Delhi and Tehran - boosted by their mutual strong relations with Moscow - are set to revamp ties in a new era of Eurasian multipolarity. 

Turkey initiates switch to ruble for Russian gas payments

Despite increasing threats from the west, Turkey has bolstered its economic ties with the Kremlin at a time when it faces runaway inflation and a rapidly depreciating currency

Russia’s judo kick to the western financial gut

Washington's sanctions on Moscow will destroy Europe, not Russia

Follow the money: how Russia will bypass western economic warfare

The US and EU are over-reaching on Russian sanctions. The end result could be the de-dollarization of the global economy and massive commodity shortages worldwide.

MbZ meets with Pakistani PM for bilateral talks

MbZ and the Pakistani PM expressed their desire to bolster joint cooperation in the fields of economy, trade, and development

Dead on arrival: The west’s B3W initiative to rival China’s BRI

While Washington is focused on establishing rival 'global' projects to Beijing's Belt and Road Initiative, most of these drive profits and benefits right back to the United States.