One of the most striking aspects of the tectonic BRICS summit in Johannesburg was the spectacular queue consisting of 40 countries (mega-sic!) waiting to enter the group, which had already surpassed the G-7 GDP. The G-7 had a share of 29.2% of global GDP, compared to 32.1 percent of the 5-BRICS. Of the 40 candidates, only six entered, with which ...
The United States continues trying to exclude Russia from international oil markets and determining the oil price, while maintaining the oil supply. Despite Washington’s attempts to organize increasing supply, OPEC has recently decided to cut production by 2 million barrels per day. In that context, another challenging proposal comes from Mexico: to coordinate price policies on Mexico’s, Venezuela’s and Brazil’s ...
In his State of the Union speech on March 1st, the US President Biden has evaluated the Russian invasion of Ukraine as an attempt to “shake the very foundations of the free world.” And as the leader of this “free world”, Biden responded by attempting to exclude the Russian Federation from the whole international system. Sanctions, freezing of assets, closure ...