• 2023-04-14

    Economists Radhika Desai and Michael Hudson discuss Russia’s economic transition away from the neoliberal West and integration with what it calls the “World Majority” in the Global South.

  • 2023-04-12

    Western sanctions on seaborne fuel shipments from Russia have pushed the country to seek new alternatives for cooperation with its allies

  • 2023-04-09

    Shamkhani and Levitin discussed bilateral ties between Iran and Russia and the issues of mutual

  • 2023-04-06

    The global de-dollarization campaign is gaining momentum, as countries around the world seek alternatives to the hegemony of the US dollar. China, Russia, Brazil, India, ASEAN nations, Kenya, Saudi Arabia, and the UAE are now using local currencies in trade.

  • 2023-04-06

    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.

  • 2023-04-06

    The UN Human Rights Council voted overwhelmingly to condemn sanctions. The only countries that expressed support for unilateral coercive measures were the US, UK, EU member states, Georgia, and Ukraine.

  • 2023-04-04

    The shock oil production cuts from May outlined by the OPEC+ on Sunday essentially means that eight key OPEC countries decided to join hands with Russia to reduce oil production, messaging that OPEC and OPEC+ are now back in control of the oil market.

  • 2023-03-30

    State Duma Deputy Chairman Alexander Babakov did not dismiss the possibility for the formation of a single BRICS currency.

  • 2023-03-30

    The Iran-Pakistan gas pipeline project, which has been on hold for more than 10 years because of US sanctions on Iran and Pakistan's unstable economy, has been brought back to life as Pakistan starts making diplomatic efforts to get the long-running energy project revived and provide energy-deficient Pakistan with a sustained gas supply.

  • 2023-03-09

    The fact that Iranian firms have proven resilient under sanctions does have its benefits. This resilience has helped keep Iran’s economy from sliding into a deeper crisis. The resilience of businesses is also critical if Iran is to take advantage of any sanctions relief offered in a future diplomatic agreement. But the processes that underpin this resilience have significant distributional consequences. The sustained profitability of Iranian companies under sanctions represents an extraordinary and ongoing transfer of economic welfare from households to firms.  In effect, not only are sanctions failing to weaken Iranian companies and their elite owners, but they are also hurting Iranian households profoundly. This suggests that the enhanced pricing power of Iranian firms and inflated corporate dividends are under-examined contributors to rising economic inequality in Iran, where the top income decile now controls nearly one-third of the country’s wealth. Sanctions were meant to make Iranian companies pay, but it is the Iranian people who are footing the bill.