Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Netanyahu's office: At the end of the security consultations, the prime minister instructed the military to launch massive military strikes on the Gaza Strip immediately
President Aoun: We urge the activation of the monitoring committee, the cessation of hostilities, ongoing Israeli violations, attacks
Lebanese President Joseph Aoun to US Envoy Morgan Ortagus: Southerners must be enabled to return to their homes and rebuild
Syrian sources: The Israeli occupation has begun withdrawing from the areas it infiltrated last night in the Quneitra countryside.
Al Mayadeen's correspondent: Massive bombings in eastern Gaza, the second within half an hour, and its sound was heard from central area.
Russian air defense units destroyed a drone that was heading toward Moscow.
Maduro: Tomorrow, a business meeting will be held bringing together hundreds of entrepreneurs from advanced Russian industries with hundreds of Venezuelan businesspeople.
Maduro: In the face of threats, Trinidad and Tobago agreed to suspend all effects of the energy agreement and everything that had been agreed upon in that regard.
Maduro: It’s time to make a choice, either stand with the warmongers who want death and violence, or stand with life.
Maduro: They want our wealth. This is not about drug trafficking, and they know it.

SPIEF sidelines: Russia may de-dollarize with Latino nations, BRICS

  • By Al Mayadeen English
  • Source: Agencies
  • 5 Jun 2024 15:42
2 Min Read

This occurs as St. Petersburg in Russia hosts the 27th edition of SPIEF from June 5-8, as the diplomat notes that types and forms can be different for the process of de-dollarization, but cooperation will be prioritized.

Listen
  • x
  • Russian President Vladimir Putin attends a meeting with young entrepreneurs at the St. Petersburg International Economic Forum (SPIEF) in Moscow, Russia, June 9, 2022. (Kremlin Pool Photo via AP)
    Russian President Vladimir Putin attends a meeting with young entrepreneurs at the St. Petersburg International Economic Forum (SPIEF) in Moscow, Russia, June 9, 2022. (Kremlin Pool Photo via AP)

The director of the Latin America Department of the Russian Foreign Ministry, Alexander Shchetinin, relayed to Sputnik on Wednesday that de-dollarization is being discussed in trade between Russia and several Latin American countries such as Cuba, Nicaragua, Venezuela, as well as several BRICS states.

On the sidelines of the St. Petersburg International Economic Forum (SPIEF), Shchetinin said, "Here is the process of negotiations of business and banking structures ... to find the most acceptable and convenient forms of interaction to ensure trade and economic ties between our countries. One of them is national currencies, the introduction of Mir [payment] cards, the introduction of direct settlements". 

This occurs as St. Petersburg in Russia hosts the 27th edition of SPIEF from June 5-8.

Related News

Putin warns Europe on militarization, calls Gaza war a tragedy

Pezeshkian slams US proposal to trade uranium for sanctions relief

The diplomat noted that types and forms can be different for the process of de-dollarization, but cooperation will be prioritized.

"We have negotiations with many countries [in progress]. There are ideas for the introduction of alternative payment platforms... We have a number of other countries with which we maintain normal trade and economic ties: Cuba, Nicaragua, Venezuela," he said, adding that "progress" is currently present in negotiations.

In April, Russia declared that its bilateral commerce with China had nearly fully transitioned away from the US currency, demonstrating the two nations' determination to reduce their reliance on the US-led economic system.

According to Responsible Statecraft, aside from decreasing reliance on the Western-dominated global currency, these de-dollarization activities enable Russia and China to evade the numerous restrictions that now hinder Moscow from conducting business on the international market.

Russia and Iran have also integrated their financial systems while facing restrictions that limit their ability to transact with the West. 

  • BRICS
  • Russia
  • SPIEF
  • dedollarization

Most Read

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

  • Technology
  • 24 Oct 2025
Arab League chief exposes secret US deal shielding 'Israel’s' nukes

Arab League chief exposes secret US deal shielding 'Israel’s' nukes

  • Politics
  • 27 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025
US missionary kidnapped in Niger capital, suspected taken toward Mali

US missionary kidnapped in Niger capital, suspected taken toward Mali

  • Africa
  • 23 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Delta Air Lines flight lands at Harry Reid International Airport, Wednesday, April 9, 2025, in Las Vegas (AP)
Politics

Nearly 3,800 US flights disrupted amid ongoing government shutdown

FILE - The Amazon logo is pictured at the Amazon Robotic Sorting Fulfillment Center in Madison County, Miss., Aug. 11, 2022. (AP Photo/Rogelio V. Solis, File)
Economy

Amazon to cut 30,000 jobs in largest layoff in company history

Eurofighter Typhoon Spain's Air Force fighter jets fly above the military parade marking 'Día de la Hispanidad', or Hispanic Day, in Madrid, Spain, Sunday, Oct. 12, 2025. (AP)
Politics

UK sells 20 Eurofighter jets to Türkiye in £8bln defense agreement

Smoke billows after drone strikes by the paramilitary Rapid Support Forces (RSF) targeted the northern port in the Red Sea city of Port Sudan, Sudan, May 6, 2025 (AP)
Politics

RSF tighten El Fasher siege as Sudan risks fragmentation: Reuters

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS