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.
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https://www.rt.com/business/565737-russia-suggests-sco-create-new-payment-system/
Any moment now I am expecting John Cleese (a veteran of Monty Python) to jump out of the bushes and announce the creation of the Ministry of Silly Wars, with Donald Trump as the deranged leader. For you youngsters out there, Monty Python’s skit, The Ministry of Silly Walks, helped make the members of MP legends. I had to reference Monty Python because the line of bullshit the Trump administration is feeding the American people and the world about the amazing, obliterating US attack on Iranian nuclear sites on Sunday morning, is more ridiculous that all of the silly walks pictured in the following video:
My hopes that Donald Trump would finally act like a responsible adult are dashed. He’s a dangerous buffoon. While the team around him are working frantically to maintain the fiction that Trump has a vision and is calling the shots on the foreign policy front, he is careening around the globe like an out-of-control cue ball on a billiards table. It started a week ago… first, he claimed...
Tuesday marks the third anniversary of the launch of the Fujian, China's first aircraft carrier equipped with electromagnetic catapults. Official media said China is about to enter a three-aircraft-carrier era, with the Fujian expected to enter service by 2025.
After the launch of the Fujian on June 17, 2022, it carried out its first sea trial from May 1 to 8 in 2024. Since then, the Fujian has completed multiple sea trials, accumulating more than 100 days of sea trial, China Central Television (CCTV) News reported on Tuesday.
Wei Dongxu, a Chinese military affairs commentator, said that the aircraft carrier Fujian has been making steady progress in sea trials, and is expected to be commissioned within this year, CCTV News reported.
With a full displacement of more than 80,000 tons, the Fujian is the world's first conventionally powered aircraft carrier to feature electromagnetic catapult technologies, according to CCTV News. The report noted that it will carry a wide variety of carrier-borne...
Chinese President Xi Jinping said Tuesday that China and Central Asian countries have explored and formed the China-Central Asia Spirit, which features mutual respect, mutual trust, mutual benefit, mutual assistance, and the pursuit of common modernization through high-quality development.
Xi made the remarks in his speech at the second China-Central Asia Summit in the Kazakh capital of Astana.
Xi said that the Chinese side has decided to establish three cooperation centers and a trade facilitation platform within the China-Central Asia cooperation mechanism.
When addressing the summit, Xi said these institutions include the China-Central Asia poverty reduction cooperation center, the China-Central Asia education exchange cooperation center, the China-Central Asia desertification control cooperation center, as well as the China-Central Asia trade facilitation cooperation....more below
