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BRICS countries, Russia, and India are likely to continue oil deals despite sanctions from the US and threats from Trump. The share of Russian crude oil in India’s imports could even increase as it is available at competitive prices. British analytical firm Vortexa wrote in its Analysis that Russian oil suppliers will keep prices below market rates for India. All of this would happen despite sanctions from the US and pressures from Trump and other Western countries. The West has tightened pressure on BRICS and other developing countries to stop them from procuring Russian oil. They even went to the extent of claiming that those who procure Russian oil are aiding and arming the conflict in Ukraine. Also Read: BRICS Expands North: Mexico Partners With China, Drops Dollar for Yuan BRICS Oil Remains In the Limelight Source: energyintel.com / Michal Bednarek / Shutterstock Vortexa experts added that Russian seaborne oil exports are too big a part of India’s hydrocarbon purchases...

The BRICS alliance is working on the formation of a new currency to challenge the US dollar’s global prospects. The bloc aims to dethrone the US dollar from the world’s reserve currency and usher into a new financial era. The bold idea is pushed most by members China, Russia, and Iran, as their economies are hampered by the US. The White House pressed sanctions on Russia and Iran and both countries are seeking an alternative currency. Also Read: More Than 20 Countries Apply To Join BRICS in 2025 On the other hand, China seeks global domination through BRICS and the launch of a new currency will boost its prospects. On the contrary, India is against the idea as their leaders have openly supported the US dollar. India’s Foreign Minister S. Jaishankar repeatedly said that they need the US dollar and will not sideline it for trade. The statement highlights the stark differences and ideas among the member nations of the nine-country alliance. Also Read: BRICS: US Dollar Rem...

Trump’s Bitcoin reserve strategy could reshape global crypto market dynamics. The U.S. proposal targets Russia’s rising crypto influence, setting up a direct crypto reserve comparison. President-elect Donald Trump’s NYSE announcement pushed Bitcoin past $100,000, marking a new phase in the global crypto impact. This development intensifies the financial rivalry as both nations race to establish strategic cryptocurrency positions. Also Read: Dogecoin: Can DOGE Hit $0.90 After Bitcoin’s New Peak? Will Trump’s Bitcoin Reserve Plan Beat Russia’s Crypto Strategy to Reshape Global Markets? Source: Watcher Guru Trump’s Bold Bitcoin Move Source: PBS Senator Cynthia Lummis introduced the Bitcoin Act, showing Trump’s Bitcoin reserve commitment through a five-year plan for 1 million Bitcoins. The U.S. holds 200,000 confiscated Bitcoins worth $20 billion as the foundation. Trump’s NYSE statement outlined the crypto market strategy: “We’re ...

Russia has unveiled plans to launch two State-linked cryptocurrency exchanges to integrate digital payments for trade settlements. The US sanctions have made Russia find alternative payment methods to keep its economy afloat. The two cryptocurrency exchanges will operate in two different cities, one in Moscow and the other in St. Petersburg. In addition, BRICS member Russia also plans to launch a new stablecoin that will be linked with the Chinese yuan. Also Read: BRICS: New Gold-Backed Currency Gains Steam & Challenges the US Dollar JUST IN: Russia to launch two crypto exchanges and stablecoins linked to the Yuan and BRICS currency, Kommersant reports. — Watcher.Guru (@WatcherGuru) August 23, 2024 The bold plan from BRICS member Russia is to peg the Chinese yuan with the new cryptocurrency-based stablecoin at a 1:1 ratio. This makes its price remain stable with no volatility and is relatively safe to initiate transactions with no concerns of fluctuating prices. Also Read: BRICS:...

Pakistan is looking to join BRICS and is taking the help of Russia to be a part of the bloc. Moscow and Islamabad have close ties and Islamabad is using the friendly relations to land a spot in BRICS . However, India remains unhappy about the prospects of Pakistan joining BRICS as the two countries have been at loggerheads for decades. The development would make BRICS crack as India does not want to share the stage with its neighboring country Pakistan . Also Read: Gold Forecasted To Crash Below $1,200 On the heels of the development, Pakistan i politician and senator Mushahid Hussain says that the country can join BRICS with Russia ’s help. Hussain also met Russia ’s senator Vladimir Chizhov to push Moscow to send an invite for Pakistan to join BRICS . Russia and Pakistan’s ties go back decades and the two countries have positive relations in the fields of energy, connectivity, education, and regional security. Securing Pakistan a spot in BRICS wil...