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Non-Tech : The Brazil Board

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richardred

To: richardred who wrote (2190)	3/1/2022 4:12:43 AM
From: elmatador	1 Recommendation of 2504

Analysis: After sanctions barrage, Russia's emerging market allies explore workarounds By Samuel Shen and Andrew Galbraith SHANGHAI, Feb 28 (Reuters) - As western governments ratchet up sanctions against Russia over its invasion of Ukraine, Moscow's emerging markets allies are exploring channels for trade and financing to continue. The other members of the erstwhile BRICs group - Brazil, India and China - are treading cautiously for fear of tripping on the sanctions, but the beginnings of a parallel financial system centred on Beijing are becoming detectable. The United States and Europe have banished big Russian banks from the main global payments system SWIFT and announced other measures to limit Moscow's use of a $640 billion war chest. read more So the willingness of the emerging market giants to sustain business relations with Russia highlights a deep rift over Europe's biggest crisis since the World War II, and threatens to chip away the dominance of the U.S. dollar in global trade. https://www.siliconinvestor.com/readmsg.aspx?msgid=33734088

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