The Russian and Chinese central banks have agreed a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US dollar in bilateral payments. “The draft document between the Central Bank of Russia and the People’s Bank of China on national currency swaps has been agreed by the parties,” and is at the stage of formal approv [...]

Obama's State Department bears a heavy responsibility for promoting a civil war in Ukraine. The belief that calling for and instituting sanctions against Russia is a sound policy, illustrates the economic disconnect of the Obama administration. With the fervor for starting a new cold war, the propaganda machine is working overtime to paint a picture that ignores real economic synergism. Note th [...]

A six-day tour by Russian President Vladimir Putin to Latin America ended with a long anticipated creation of the BRICS bank and the signing of energy agreements, as Russia looks to build alliances to counter Western influence. The Latin America tour started with the visit to Cuba, where Putin signed a new agreement on oil exploration in Caribbean waters which contain most of the estimated 124 mil [...]

Shanghai is considered to be the frontrunner between Russia, China, India and South Africa to become home to the new BRICS bank, media reports. The bank is an attempt by emerging economies to challenge the US-based global lending institutions. Four of the BRICS countries – China, Russia, India and South Africa [...]

Russia will start settling more contracts in Asian currencies, especially the yuan, in order to lessen its dependence on the dollar market, and because of Western-led sanctions that could freeze funds at any moment. [...]

The "€œPower of Siberia"€ is much more than a 30 year Sino-Russian gas/pipeline deal. Paying for the process accelerates the vogue to reduce dollar pricing. That, not the energy supply, will become the most acute threat to US economic hegemony. [...]

China is calling on banks to stop using IBM servers and replace them with local-made machines amid fears that the nation’s financial security might be compromised via the US-based company’s servers, a Bloomberg report has revealed. [...]

While this year'€™s Int Economic Forum in St Petersburg saw fewer foreign guests due to sanctions tension, those who chose to leave politics aside told RT imposing economic restrictions on Moscow would mean "€œcutting the trees"€ they are "€œsitting on." [...]

This week'€™s indictment by a US grand jury of five Chinese military officials on charges of cyber espionage is both revealing and hypocritical. After all, the US, along Israel, is the world's leading purveyor of cyber espionage, warfare and subversion. Moreover, these latest charges should be understood against the broader backdrop of Washington’s ‘pivot to Asia’, including the much-toute [...]

China could replace Germany as Russia's biggest gas consumer, if Moscow and Beijing agree to add a route from Russia'€™s Western Siberia to the one already agreed under a $400 billion contract, President Putin said at a meeting with media in St. Petersburg. [...]

After 10 years of negotiations, Russia's Gazprom and China's CNPC have finally signed a historic gas deal which will provide the world's fastest growing economy with the natural gas it needs to keep pace for the next 30 years. The total value of the contract is $400 billion, Gazprom CEO Aleksey Miller said. However, the price of gas stipulated in the document remains a "commercial secret." [...]

A specter is haunting Washington, an unnerving vision of a Sino-Russian alliance wedded to an expansive symbiosis of trade and commerce across much of the Eurasian land mass - at the expense of the United States. And no wonder Washington is anxious. That alliance is already a done deal in a variety of ways: [...]

Moscow and Beijing have rejected the imposition of sanctions as political tools and condemned attempts at "encouraging and financing"€ regime changes in other countries in a joint statement released during President Putin'€™s official visit to China. [...]

​China has dismissed all US accusations of industrial cyber-espionage against five of its military officials and published proof that Washington is actually stealing data from China. Beijing also summoned the US ambassador for an explanation. [...]

VTB, Russia'€™s second biggest lender, has signed a deal with Bank of China, which includes an agreement to pay each other in domestic currencies. “Under the agreement, the banks plan to develop their partnership in a number of areas, including cooperation on ruble and renminbi settlements, investment banking, inter-bank lending, trade finance and capital-markets transactions,” says the offi [...]

Russia-China cooperation has reached its highest level ever, Russian President Vladimir Putin has said in an interview with Chinese media on the eve of his visit to Shanghai, where a record package of documents is expected to be signed by the two nations. [...]

The World Bank recently said the end of U.S. economic hegemony was coming before 2015 arrives. But we've heard this story before. Don't believe the hype about China. Last time I looked (yesterday), the U.S. economy in 2013 was three times larger than the Chinese (in real 2005 dollars, according to the magnificent historical data set of the U.S. Department of Agriculture’s Economic Research Servi [...]

A historic, long-term deal for the delivery of Russian gas to China that has been 10 years in the making is 98 percent ready, Russia'€™s Deputy Energy Minister Anatoly Yanovsky has said. All that's needed are the two countries'€™ signatures, he added. [...]

The American government conducted a major intelligence offensive against China, with targets including the Chinese government and networking company Huawei, according to documents from former NSA worker Edward Snowden that have been viewed by SPIEGEL. Among the American intelligence service's targets were former Chinese President Hu Jintao, the Chinese Trade Ministry, banks, as well as telecommuni [...]