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China US trade talks have gained significant momentum in recent weeks as both economic powerhouses return to the negotiating table, despite, well, lingering concerns over Trump tariffs. This strategic pivot, at the time of writing, appears to be weakening Russia’s de-dollarization strategy and also reshaping the global economic power shift, especially as China seems to choose economic pragmatism over its alliance with Moscow. Also Read: BlackRock & SEC Clash Over Cardano’s Aggressive Pivot How China Prioritizes US Trade Over Russia’s Currency Revolt Recent developments in China US trade talks indicate that Beijing has, in fact, made a calculated decision to reengage with Washington, even as it continues to maintain diplomatic ties with Russia. Beijing’s Economic Pragmatism Chinese officials have been quietly working to reestablish meaningful trade dialogue with the United States. The renewed China US trade talks come at a time when Trump tariffs continue to impact bila...

The Commonwealth of Independent States (CIS) bloc, which consists of 12 countries, is advancing payments in local currencies. CIS is ending reliance on the US dollar by aggressively pushing their local currencies for all cross-border transactions. In 2024 alone, around 80% of all trade between the member nations has been settled in local currencies. As the de-dollarization agenda grows, two new countries have settled nearly $37 billion of trade in local currencies. Also Read: BRICS: Global US Dollar Payments Fall Below 50% The de-dollarization initiative is gaining steam as developing countries aim to topple the US dollar from the world’s reserve currency. Only 20% of payments consisted of the US dollar, signaling the greenback decline among emerging economies. Developing countries are ending dependency on the US dollar and plan to push local currencies to take the top spot. 2 Countries Settle $37 Billion Worth of Trade in Local Currencies, Sideline the US Dollar Source: Reuters A...

Russia has been doubling down on its interest in cryptocurrencies like Bitcoin (BTC). According to recent reports, digital currencies are now formally recognized as a type of property in international trade settlements. This falls under a new law that has now been approved by Russian President Vladimir Putin. The President has jumped into the scene by embracing cryptocurrency for trade. This is being carried out under an experimental legal regime (ELR). JUST IN: Russian President Putin signs law recognizing #Bitcoin and crypto as property. — Watcher.Guru (@WatcherGuru) November 29, 2024 Also Read: Indonesia’s Crypto Transactions Surge 350% in Just One Year Russia’s Brand New Law Focuses On Mining The laws exclude cryptocurrency sales and mining from value-added tax (VAT). Without the tax burden that usually comes with traditional financial transactions, this exemption could push people and businesses to interact with cryptocurrencies more freely. Cryptocurrency miners...

The BRICS alliance could induct 10 new countries into the alliance during the upcoming summit in October 2024. The 16th BRICS summit is scheduled to be held in the Kazan region of Russia between October 22 to 24, 2024. Russia has proposed the idea of adding 10 new ‘partner countries’ that would add a strong value proposition to the bloc. Also Read: BRICS : Saudi Arabia Makes Massive Oil and Gas Discovery The modalities of the engagement of partner countries are yet to be finalized with a set of rules and regulations. The idea could be shared with BRICS members during the 16th summit in October. Russia wants to add more countries to push them to use local currencies and not the US dollar. Read here to know how many sectors in the US will be impacted if BRICS ditches the dollar for trade. Also Read: BRICS : JP Morgan Predicts Huge US Stock Market Crash BRICS: Russia Wants To Add 10 New ‘Partner Countries’ in 2024 Source: Valery Sharifulin (TASS) Russia plans...

A Spanish court has extended a probe into Russia’s alleged involvement in Catalonia’s independence plans after the presiding judge was anonymously sent a two-year-old news report that revealed the name of the Russian diplomat supposedly involved. Nikolau Sadovnikov was named in the article published back in May 2022 by the Organized Crime and Corruption Reporting Project (OCCRP). The article detailed the relationship between Sadovnikov and Catalonia’s former regional leader Carles Puigdemont, and a supposed deal between the two that saw Sadovnikov promise $500 billion and 10,000 Russian soldiers to aid Catalonia’s independence efforts. In return, Sadovnikov requested that Catalonia loosen its laws on crypto and become the virtual currency equivalent of Switzerland. He also wanted the region to refrain from criticizing Russia for its treatment of opponents. No firm commitments were reportedly made. Despite this promise, it appears Puigdemont only ever received...