BRICS: ‘ US Policies, Russian Sanctions lead to a Russian-China Global Currency ‘

#AceFinanceNews – Featured Report:June.06: I have posted on here about the changes in currency – related to BRICS and two major players Russia-China, for a while. My time-line of collapse is at the bottom with all my posts on the link, for anyone. This post is my featured one today:

russia 2bn brics bank si
‘ The main players in the game of currency change ‘

Blind adherence to US policies and the introduction of anti-Russian sanctions have turned fatal for Europe; the axis of Russia-China-BRICS is set to overturn the global economic system and to prevail over the hegemony of the US, according to the chief economist of the German Bremer Landesbank.

The real damage to the EU countries caused by the launch of anti-Russian sanctions is much more comprehensive than that estimated by the statistics, Folker Hellmeyer, chief economist of the German Bremer Landesbank told in an interview with Deutsche Wirtschafts Nachrichten.

View of the Metro Bridge from Vorobyovy Gory (Sparrow Hills) in Moscow

US Seeks to ‘Hold Russia Back’ From Creation of Multipolar World

“The slump in German export volume by 18 percent in 2014 and by 34 percent for the first two months of 2015 is just the tip of the iceberg,” he said. “There are much more of the side-effects.”

“European countries, like Finland and Austria, who have strong developing businesses in Russia, place fewer orders within Germany. Moreover, the European corporations evade sanctions and create high-efficient production facilities in Russia.

We, therefore, lose this potential capital stock, which is the basis of our prosperity, and Russia wins.”

Ace Related News:

BRICS  Timeline of Collapse 


#brics, #brics-development-bank, #south-africa-brics

` Russia Eyes up the ` Republic of South Africa ‘ as the `New Developing Market ‘ and Opens Gazprombank ‘

#AceFinanceNews – PRETORIA – April 25 – Gazprombank has become Russia’s first commercial bank to open its representative office in the Republic of South Africa (RSA).

South African Deputy Minister of Finance Nhlanhla Nene, said in remarks at the presentation ceremony on Thursday that after two years of negotiations, Gazprombank had chosen the RSA as its base in Africa. He wished the Bank every success and thanked it for the shown trust in the South African economy.

Oleg Vaksman, Gazprombank’s Deputy Chairma of the Management Board, told Itar-Tass that the Bank eyes many rapidly developing African economies. “We shall operate within the area of the Southern African Development Community and in the continent’s east.

We are interested in traditional sectors, such as oil and gas, energy, and infrastructure,” he said.

The emergence in Africa of Russia’s third-largest bank accords with its strategy for a direct access to developing markets. “Physical presence in a country is required for achieving that. Over here, we have strategic intentions.

We do not intend just to earn money on some project and quit. We want to have an order book,” Vaksman emphasized.

In Africa, it is possible to achieve a high profitability on credit-lending. However, political risks over here are higher than elsewhere. “One must take both these factors into consideration,” Vaksman said.

The representative office of Gaprombank expects to obtain a license in South Africa towards the end of the year.

Ndaba Ntslele, South African Co-Chairman of the RSA-Russia Business Council, welcomed the Russian bank’s coming.

“We have got sick and tired of endless memoranda of intent. It is time to move on to specific deals,” he said.

Russian Oil and News Media Sources.


#gazprombank, #pretoria, #republic-of-south-africa-rsa, #russias, #south-africa-brics

BRICS Economic Forum : ` Economic Insecurity Accelerates the Establishment of a `BRICS Development Bank ‘ – Closer ‘

#AceFinanceNews – A high level of mutual understanding among the experts of the five countries on key problems became the distinguishing feature of the 6th Academic Forum of BRICS (Brazil, Russia, India, China, and South Africa), which ended on Wednesday, Vyacheslav Nikonov, leader of the Russian delegation at the forum, Chairman of the State Duma Committee on Education, and Chairman of the Board of the Russian National Commmittee for BRICS Studies, told Itar-Tass.

“There is an unspoken understanding, there is no need to reiterate the problems that gave rise to arguments at previous meetings when the elaboration of documents proceeded with difficulty,” he pointed out.
Nikonov said,

“Matters concerning economic security in a broad sense were of particular importance” to the Russian experts. “This refers to problems connected with a de-dollarization of the economies and mutual settlements, the task of an accelerated establishment of a BRICS Development Bank which could implement projects regardless of the attitude of the financial institutions of the West, the formation of a BRICS Stabilization Fund, the use of national currencies in mutual and multilateral settlements, and matters that have a bearing on the de-dollarization of gold-and-currency reserves,” the Russian delegation leader explained.


#brazil, #brics-development-bank, #china, #india, #russia, #south-africa-brics