The Eurasian trade alliance would cut dependence on the West and build reliable conditions for business, Moscow says
Russian Prime Minister Mikhail Mishustin has proposed setting up a joint payment network within the Shanghai Cooperation Organization (SCO) and has urged member states to speed up the transition to using national currencies in trade.
“Our common task is to gain independence from the influence of third countries in the financial sector. For that purpose, we suggest creating a digital system for the exchange of financial information and payment transactions within the SCO,” the head of the Russian government said on Tuesday.
Mishustin proposed using national platforms for interbank communications as new channels for transactions. The move, according to the official, would help cut reliance on the Western financial system and ensure “more predictable, clear and reliable conditions” for businesses within the SCO.
READ MORE: Russian president calls for alternatives to SWIFT
The prime minister also wants to accelerate the transition to settlements in national currencies in order to move away from the US dollar and euro. He noted that Russian President Vladimir Putin stressed last week that settlements in national currencies would gain momentum and gradually become dominant across the globe.
Speaking at the Valdai discussion club last Thursday, Putin also called for new independent financial platforms for international settlements, adding that alternative and decentralized systems would eliminate the possibility of manipulating the global financial infrastructure.
For more stories on economy & finance visit RT's business section
https://www.rt.com/business/565737-russia-suggests-sco-create-new-payment-system/
Accepting the Washington-based lender’s plan would be a “disgrace” for Dakar, the African state’s prime minister has said
Senegal has rejected a debt-restructuring proposal put forward by the International Monetary Fund (IMF). The West African country’s prime minister, Ousmane Sonko, said following the plan would amount to a national “disgrace.”
Sonko made the remarks at a rally in the capital, Dakar, on Sunday, days after the Washington-based lender concluded a two-week mission to Senegal without a new financing deal.
Senegal’s public debt has risen to over $11 billion amid the discovery of $7 billion in undeclared loans. The IMF has since frozen a $1.8 billion lending facility to the former French colony, citing misreporting and hidden debt.
Senegalese President Bassirou Diomaye Faye, who came to power in April 2024, has blamed his predecessor, Macky Sall, for the debt crisis.....more here
https://www.rt.com/africa/627581-senegal-rejects-imf-debt-restructuring-proposal/
While Washington dreams of a Golden Dome, Beijing is quietly building one that actually works
When Donald Trump unveiled the Golden Dome in May 2025, he promised nothing less than a revolution in American security – a $175-billion missile defense shield designed to intercept any threat to the United States.
Modeled on Ronald Reagan’s Strategic Defense Initiative, the new project envisions an integrated network of satellites, next-generation interceptors, radars, and laser weapons extending from the Earth’s surface to outer space. The ambition is clear: complete, preemptive, and absolute protection by 2029.
Yet behind the spectacle of technological grandeur lies a troubling pattern. No concrete system architecture has been presented, and early projections suggest the true cost could triple the official figure. More importantly, the concept of “absolute security” signals an enduring American desire for unipolar dominance – one that undermines, rather than reinforces, global ...
The overthrow of PM Sheikh Hasina in 2024 was funded by USAID and Clinton family money, Mohibul Hasan Chowdhury told RT
The unwillingness of Bangladesh to condemn Russia over the Ukraine conflict was one of the reasons the US wanted to oust Prime Minister Sheikh Hasina, former cabinet minister and chief negotiator Mohibul Hasan Chowdhury has said in an interview with RT.
Hasina, who led Bangladesh for 15 years, fled the country in August 2024, following weeks of violent student-led protests which claimed 700 lives, according to some estimates.
Chowdhury, who served as the country’s shipping minister, was at the heart of negotiations between the authorities in Dhaka and demonstrators during the crisis. The country has been led by an interim government since then, which pledged to hold an election in 2026.
Chowdhury told RT in an exclusive interview to be aired on Monday that the uprising was instigated by NGOs linked to the US Agency for International Development (USAID) and the ...
