Eurasia

Understanding the growing use of local currencies in cross-border payments

Geopolitical tension has intensified recently, accompanied by frequent use of economic and financial sanctions, mainly by the United States and its allies. Furthermore, there has been growing discontent in the rest of the world with the Fed’s conduct of monetary policy—believed to have caused wild swings in capital flows and …

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BRICS is doubling its membership. Is the bloc a new rival for the G7?

This bloc goes to eleven. At its summit on Thursday in Johannesburg, the BRICS group of Brazil, Russia, India, China, and South Africa announced that its membership is more than doubling. Argentina, Egypt, Ethiopia, Iran, the United Arab Emirates (UAE), and Saudi Arabia have been invited to join the group …

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Experts react: What the Prigozhin plane crash reveals about Putin, the Wagner Group’s future, and the war in Ukraine

It was easier to approach Moscow in June than to leave it in August. Wagner Group mercenary leader Yevgeniy Prigozhin, who staged a short-lived mutiny against the Russian military two months ago, was reportedly killed in a plane crash along with nine other passengers on Wednesday while traveling from Moscow …

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Libya captures Islamic State leader behind 2018 capital bombing

The Islamic State has exploited the chaos in Libya to extend its influence. Libyan authorities have arrested an Islamic State leader suspected of having planned three deadly attacks in Libya’s capital in 2018, the UN-backed government announced on Thursday. The head of the Tripoli-based Government of National Unity, Abdel Hamid …

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Kurds suffer as Iraq, Turkey fail to restart oil flow ahead of Turkish FM’s Baghdad visit

As Turkish Foreign Minister Hakan Fidan is set to meet in Baghdad with Iraqi leaders, disrupted oil flows, water and cooperation against the outlawed Kurdistan Workers Party are expected to top the agenda. Iraq and Turkey failed to agree on the resumption of oil exports via the southern Mediterranean port …

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Prigozhin’s death spells end of Wagner, but Russia won’t abandon its missions

With the Wagner Group’s top leadership reportedly dead in a likely assassination, Moscow is continuing to quietly replace the private mercenary outfit in its overseas operations. Wagner Group leader Yevgeny Prigozhin is presumed dead along with his top deputies following a plane crash in Russia’s Tver region Wednesday. While the …

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Ukraine Says It Launched ‘Special Operation’ In Russian-Occupied Crimea

Ukraine’s navy and military intelligence carried out a “special operation” overnight in which units landed on Russian-occupied Crimea, the defence ministry’s Main Directorate of Intelligence (HUR) said on Thursday (24 August). The operation, which could not be independently confirmed, would amount to a rare demonstration that Ukrainian forces are able …

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Cyber Scams Keep North Korean Missiles Flying – Analysis

The man speaks English, says he’s Japanese and claims to be a mobile and web developer ready for hire. “I have the experience to start contributing from Day One,” he says, sounding like any eager job candidate would on a job search site. But potential employers have reason to be …

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The Ukraine-Russia Conflict Has Reached A Stalemate – Analysis

The war between Russia and Ukraine, which broke last year following the former’ invasion, is deadlocked. Ukraine’s counter-offensive has stalled or at least the progress made by Ukrainian ground forces has been limited. Just as the initial Russian offensive stalled due to an impressive Ukrainian fightback and were gradually reversed, …

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Breaking Pakistan’s Bad IMF Habit – Analysis

Pakistan’s recent US$3 billion Stand-By Arrangement with the International Monetary Fund (IMF) has provided much-needed financial relief alongside the financial aid and investment from several strategic partners, including Saudi Arabia, the United Arab Emirates and China. These arrangements could play a significant role in addressing pressing economic crises. While these …

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