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BRICS doubled its membership at the start of 2024, and faces huge tasks ahead: integrating its newest members, developing future admission criteria, deepening the institution’s groundings, and most importantly, launching the mechanisms for bypassing the US dollar in international finance.

(Photo Credit: The Cradle)

MOSCOW – Across the Global South, countries are lining up to join the multipolar BRICS and the Hegemon-free future it promises. The onslaught of interest has become an unavoidable theme of discussion during this crucial year of the Russian presidency of what, for the moment, is BRICS-10.

Indonesia and Nigeria are among the top tiers of candidates likely to join. The same applies to Pakistan and Vietnam. Mexico is in a very complex bind: how to join without summoning the ire of the Hegemon.

And then there’s the new candidacy on a roll: Yemen, which enjoys plenty of support from Russia, China, and Iran.

It’s been up to Russia’s top BRICS sherpa, the immensely capable Deputy Foreign Minister Sergey Ryabkov, to clarify what’s ahead. He tells TASS:

We must provide a platform for the countries interested in rapprochement with the BRICS, where they will be able to work practically without feeling left behind and joining this cooperation rhythm. And as to how the further expansion will be decided upon – this should be postponed at least until the leaders convene in Kazan to decide.

The key decision on BRICS+ expansion will only come out of the Kazan summit next October. Ryabkov stresses that the order of the day is first “to integrate those who have just joined.” This means that “as a ‘ten,’ we work at least as efficiently, or, rather, more efficiently than we did within the initial ‘five.'”

…click on the above link to read the rest of the article…

Iraqi parliament calling to ditch US dollar for oil trade

February 4, 2024

Iraqi parliament calling to ditch US dollar for oil trade

Washington has exercised strict control over Iraqi oil revenues for the past two decades

(Photo credit: INA)

The Finance Committee in the Iraqi parliament made a statement on 31 January calling for the sale of oil in currencies other than the US dollar, aiming to counter US sanctions on the Iraqi banking system.

“The US Treasury still uses the pretext of money laundering to impose sanctions on Iraqi banks. This requires a national stance to put an end to these arbitrary decisions,” the statement said.

“Imposing sanctions on Iraqi banks undermines and obstructs Central Bank efforts to stabilize the dollar exchange rate and reduce the selling gap between official and parallel rates,” it added.

The Finance Committee affirmed its “rejection of these practices, due to their repercussions on the livelihoods of citizens,” and reiterated its “call on the government and the Central Bank of Iraq to take quick measures against the dominance of the dollar, by diversifying cash reserves from foreign currencies.”

Washington imposed sanctions on Iraqi Al-Huda Bank this week, under claims of laundering money for Iran. Several other banks have been hit with similar sanctions over the past year.

The statement came the same day a senior US Treasury official said Washington expects Baghdad to help identify and disrupt the funds of Iran-backed resistance factions in Iraq.

“These are, as a whole, groups that are actively using and abusing Iraq and its financial systems and structure in order to perpetuate these acts and we have to address that directly. Frankly, I think it is clearly our expectation from Treasury perspective that there is more we can do together to share information and identify exactly how these militias groups are operating here in Iraq,” the official stated.

…click on the above link to read the rest…

How Yemen’s ‘asabiyya’ is reshaping geopolitics

January 28, 2024

How Yemen’s ‘asabiyya’ is reshaping geopolitics

The Arabic word Asabiyya, or ‘social solidarity,’ is a soundbite in the west, but taken very seriously by the globe’s new contenders China, Russia, and Iran. It is Yemen, however, that is mainstreaming the idea, by sacrificing everything for the world’s collective morality in a bid to end the genocide in Gaza.

Photo Credit: The Cradle

When there is a general change of conditions,

It is as if the entire creation had changed

and the whole world been altered,

as if it were a new and repeated creation,

a world brought into existence anew.

— Ibn Khaldun

Yemen’s Ansarallah resistance forces have made it very clear, right from the start, that they set up a blockade in the Bab el-Mandeb and the southern Red Sea only against Israeli-owned or destined shipping vessels. Their single objective was and remains to stop the Gaza genocide perpetrated by the Israeli biblical psychopathy.

As a response to a morally-based call to end a human genocide, the United States, masters of the Global War Of Terror (italics mine), predictably re-designated Yemen’s Houthis as a “terrorist organization,” launched a serial bombardment of underground Ansarallah military installations (assuming US intel know where they are), and cobbled together a mini-coalition of the willing that includes its UK, Canadian, Australian, Dutch, and Bahraini vassals.

Without missing a beat, Yemen’s Parliament declared the US and UK governments “Global Terrorist Networks.”

Now let’s talk strategy.

With a single move, the Yemeni resistance seized the strategic advantage by de facto controlling a key geoeconomic bottleneck: the Bab el-Mandeb. Hence, they can inflict serious trouble on sectors of global supply chains, trade, and finance.

…click on the above link to read the rest…

War of Economic Corridors: the India-Mideast-Europe ploy

September 26, 2023

War of Economic Corridors: the India-Mideast-Europe ploy

The India-Middle East-Europe transportation corridor may be the talk of the town, but it will likely go the way of the last three Asia-to-Europe connectivity projects touted by the west – to the dustbin. Here’s why.

Photo Credit: The Cradle

The India-Middle East-Europe Economic Corridor (IMEC) is a massive public diplomacy op launched at the recent G20 summit in New Delhi, complete with a memorandum of understanding signed on 9 September.

Players include the US, India, UAE, Saudi Arabia, and the EU, with a special role for the latter’s top three powers Germany, France, and Italy. It’s a multimodal railway project, coupled with trans-shipments and with ancillary digital and electricity roads extending to Jordan and Israel.

If this walks and talks like the collective west’s very late response to China’s Belt and Road Initiative (BRI), launched 10 years ago and celebrating a Belt and Road Forum in Beijing next month, that’s because it is. And yes, it is, above all, yet another American project to bypass China, to be claimed for crude electoral purposes as a meager foreign policy “success.”

No one among the Global Majority remembers that the Americans came up with their own Silk Road plan way back in 2010. The concept came from the State Department’s Kurt Campbell and was sold by then-Secretary Hillary Clinton as her idea. History is implacable, it came down to nought.

And no one among the Global Majority remembers the New Silk Road plan peddled by Poland, Ukraine, Azerbaijan, and Georgia in the early 2010s, complete with four troublesome trans-shipments in the Black Sea and the Caspian. History is implacable, this too came down to nought.

…click on the above link to read the rest…

Central Asia is the prime battlefield in the New Great Game

August 21, 2023

Central Asia is the prime battlefield in the New Great Game

So long as Russia and China remain the region’s dominant political and economic powers, the Central Asian heartland will remain a US and EU target for threats, bribes, and color revolutions.

Photo Credit: The Cradle

Samarkand, Uzbekistan – The historical Heartland – or Central Eurasia – already is, and will continue to be, the prime battlefield in the New Great Game, fought between the United States and the China-Russia strategic partnership.

The original Great Game pitted the British and Russian empires in the late 19^th century, and in fact, never got away: it just metastasized into the US-UK entente versus the USSR, and, subsequently, the US-EU versus Russia.

According to the Mackinder-designed geopolitical game conceptualized by imperial Britain back in 1904, The Heartland is the proverbial “pivot of History,” and its re-energized 21^stcentury historical role is as relevant as in centuries ago: a key driver of emerging multipolarity.

So it’s no wonder all major powers are at work in the Heartland/Central Eurasia: China, Russia, US, EU, India, Iran, Turkiye, and to a lesser extent, Japan. Four out of five Central Asian “stans” are full members of the Shanghai Cooperation Organization (SCO): Kazakhstan, Uzbekistan, Kyrgyzstan, and Tajikistan. And some, like Kazakhstan, may soon become members of BRICS+.

The key direct geopolitical clash for influence across the Heartland pits the US against Russia and China on myriad political, economic, and financial fronts.

The imperial modus operandi privileges – what else – threats and ultimatums. Only four months ago, US emissaries from the State Department, Treasury, and Office of Foreign Affairs Control (OFAC) toured the Heartland bearing a whole package of “gifts,” as in blatant or thinly disguised threats. The key message: if you “help” or even trade with Russia in any way, you will be slapped with secondary sanctions.

…click on the above link to read the rest…

Lebanon caretaker PM warns of total collapse if reforms not implemented

August 4, 2023

Lebanon caretaker PM warns of total collapse if reforms not implemented

The caretaker PM’s warning comes as the Central Bank is considering completely halting its funding of the Lebanese state

(Photo credit: Dalati Nohra/Handout via Reuters)

Lebanon’s caretaker Prime Minister, Najib Mikati, warned on 3 August that the country’s total economic collapse will be imminent in the event that the Central Bank and its newly appointed governor fail to implement reform policies called for by the International Monetary Fund (IMF).

“Lebanon will not be able to secure medicine or pay salaries in foreign currency, in the event that the monetary and economic plan presented by the Acting Governor of the Banque du Liban, Wassim Mansouri, is not approved,” the caretaker prime minister said.

“Mansouri’s plan is consistent with the government’s plans, and our goal is to approve these plans and not waste time because the goal is to save the country,” he said.

In reference to consultations made recently between Mikati and the interim bank governor, the former said that there is “harmony [in the Central Bank] with the government’s plans.”

However, Lebanese media reported on 3 August that the Central Bank is considering completely halting its funding of the state as of Monday, 7 August.

Upon taking the reins of the Central Bank following the end of Riad Salameh’s term last month, Mansouri said: “I will not sign on any expenditure for financing the government if it contravenes with my principles or the appropriate legal framework.”

Days later, on 3 August, Lebanon’s parliament failed to pass a law that would allow the state to borrow foreign currency from the Central Bank. Mansouri’s condition for lending funds to the state from the Central Bank was the passing of the law, and the reimbursement of the funds “through a realistic plan,” Naharnet reported.

…click on the above link to read the rest…

Iraqi central bank to drop dollar for yuan in trade with China

February 22, 2023

Iraqi central bank to drop dollar for yuan in trade with China

Iraq is the latest nation in the Global South to move away from the US dollar in bilateral trade with China

https://media.thecradle.co/wp-content/uploads/2023/02/Yuan.jpg

(Photo credit: AFP)

The Iraqi central bank announced on 22 February that, for the first time, it plans to allow trade from China to be settled directly in yuan instead of the US dollar to improve access to foreign currency.

“It is the first time imports would be financed from China in yuan, as Iraqi imports from China have been financed in (US) dollars only,” the government’s economic adviser, Mudhir Salih, told Reuters on 22 February.

According to a statement released by the Iraqi central bank, carrying out transactions in the Chinese currency would boost the balances of Iraqi banks with accounts with Chinese banks.

However, this option depends on the size of the central bank’s yuan reserves.

A second option to boost local banks’ yuan balances would involve converting US dollars held in the central bank’s accounts with JP Morgan and the Development Bank of Singapore (DBS) to yuan before paying the final beneficiary in China.

The Iraqi central bank has been on a mad dash to compensate for a dollar shortage in local markets. This crisis prompted the cabinet to approve a currency revaluation earlier this month.

Last year, the US Treasury and the Federal Reserve Bank of New York began enforcing stricter controls on international transactions by Iraqi commercial banks, forcing them to comply with specific SWIFT global transfer system criteria to access their foreign reserves.

The move was allegedly meant to “curtail money laundering and the illegal siphoning of dollars to Iran and other heavily sanctioned [West Asian] countries.” However, the sudden rules change for Iraqi banks sent the economy reeling as 80 percent, or more of Iraq’s daily US dollar wire transfers could no longer be completed.

…click on the above link to read the rest…

Iran, Russia integrate banking systems

January 31, 2023

Iran, Russia integrate banking systems

52 Iranian and 106 Russian banks integrated their interbank communication and transfer systems for trade and financial operations

https://media.thecradle.co/wp-content/uploads/2023/01/GettyImages-137267465-e1675103591506.webp

(Photo Credit : Atta Kenare/AFP)

A top Iranian official announced on 30 January that Iran and Russia had integrated their interbank communication and transfer systems to help enhance trade and financial operations in an effort to bypass strict economic sanctions on their financial infrastructure.

With the signing of the agreement, 52 Iranian and 106 Russian banks are connected through the Russian Financial Message Transfer System, which will facilitate economic relations between the two countries, said Deputy Governor of the Central Bank of Iran Mohsen Karimi.

“This system is immune to sanctions as it is based on the infrastructures of both countries,” Karimi said, according to Iran’s Mehr news agency.

The global consortium SWIFT, the world leader in secure financial messaging services, excluded Iranian banks from its system following the reimposition of economic sanctions by the United States on Iran in 2018.

As a result of that suspension of services, the Iranian banking system is disconnected from the international one, making banking transactions with other countries difficult.

Russia was partially excluded from SWIFT last year due to its invasion of Ukraine.

While economic relations between the two countries have grown to 4 billion in recent years, Tehran has sold drones to Russia, which it has used in its invasion of Ukraine.

Official trips between the two countries have also multiplied in recent months, with Iranian President Ebrahim Raisi visiting Russia in January 2022 and Iranian Foreign Minister Hosein Amir Abdolahian making two trips to the Russian capital in less than a year.

“In today’s world, a country’s status is largely related to its economic power … We need economic growth to maintain our
regional and global position,” Iran’s top authority, Supreme Leader Ali Khamenei, said in a televised speech.

Global South: Gold-backed currencies to replace the US dollar

January 21, 2023

Global South: Gold-backed currencies to replace the US dollar

The adoption of commodity-backed currencies by the Global South could upend the US dollar’s dominance and level the playing field in international trade.

https://media.thecradle.co/wp-content/uploads/2023/01/the-power-of-BRICS-3.jpg

Photo Credit: The Cradle

Let’s start with three interconnected multipolar-driven facts.

First: One of the key take aways from the World Economic Forum annual shindig in Davos, Switzerland is when Saudi Finance Minister Mohammed al-Jadaan, on a panel on “Saudi Arabia’s Transformation,” made it clear that Riyadh “will consider trading in currencies other than the US dollar.”

So is the petroyuan finally at hand? Possibly, but Al-Jadaan wisely opted for careful hedging: “We enjoy a very strategic relationship with China and we enjoy that same strategic relationship with other nations including the US and we want to develop that with Europe and other countries.”

Second: The Central Banks of Iran and Russia are studying the adoption of a “stable coin” for foreign trade settlements, replacing the US dollar, the ruble and the rial. The crypto crowd is already up in arms, mulling the pros and cons of a gold-backed central bank digital currency (CBDC) for trade that will be in fact impervious to the weaponized US dollar.

A gold-backed digital currency

The really attractive issue here is that this gold-backed digital currency would be particularly effective in the Special Economic Zone (SEZ) of Astrakhan, in the Caspian Sea.

Astrakhan is the key Russian port participating in the International North South Transportation Corridor (INTSC), with Russia processing cargo travelling across Iran in merchant ships all the way to West Asia, Africa, the Indian Ocean and South Asia.

The success of the INSTC – progressively tied to a gold-backed CBDC – will largely hinge on whether scores of Asian, West Asian and African nations refuse to apply US-dictated sanctions on both Russia and Iran.

…click on the above link to read the rest…

Why BRI is back with a bang in 2023

January 9, 2023

Why BRI is back with a bang in 2023

As Beijing’s Belt and Road Initiative enters its 10th year, a strong Sino-Russian geostrategic partnership has revitalized the BRI across the Global South.

https://media.thecradle.co/wp-content/uploads/2023/01/BRI-and-De-Dollarization.jpg

Photo Credit: The Cradle

The year 2022 ended with a Zoom call to end all Zoom calls: Presidents Vladimir Putin and Xi Jinping discussing all aspects of the Russia-China strategic partnership in an exclusive video call.

Putin told Xi how “Russia and China managed to ensure record high growth rates of mutual trade,” meaning “we will be able to reach our target of $200 billion by 2024 ahead of schedule.”

On their coordination to “form a just world order based on international law,” Putin emphasized how “we share the same views on the causes, course, and logic of the ongoing transformation of the global geopolitical landscape.”

Facing “unprecedented pressure and provocations from the west,” Putin noted how Russia-China are not only defending their own interests “but also all those who stand for a truly democratic world order and the right of countries to freely determine their own destiny.”

Earlier, Xi had announced that Beijing will hold the 3^rd Belt and Road Forum in 2023. This has been confirmed, off the record, by diplomatic sources. The forum was initially designed to be bi-annual, first held in 2017 and then 2019. 2021 didn’t happen because of Covid-19.

The return of the forum signals not only a renewed drive but an extremely significant landmark as the Belt and Road Initiative (BRI), launched in Astana and then Jakarta in 2013, will be celebrating its 10th anniversary.

BRI version 2.0

That set the tone for 2023 across the whole geopolitical and geoeconomic spectrum. In parallel to its geoconomic breadth and reach, BRI has been conceived as China’s overarching foreign policy concept up to the mid-century. Now it’s time to tweak things…

…click on the above link to read the rest…

Who profits from Pipeline Terror?

October 3, 2022

Who profits from Pipeline Terror?

Secret talks between Russia and Germany to resolve their Nord Stream 1 and 2 issues had to be averted at any cost

https://media.thecradle.co/wp-content/uploads/2022/09/Putin-Biden-and-Nord-Stream.jpg

The War of Economic Corridors has entered incandescent, uncharted territory: Pipeline Terror.

A sophisticated military operation – that required exhaustive planning, possibly involving several actors – blew up four separate sections of the Nord Stream (NS) and Nord Stream 2 (NS2) gas pipelines this week in the shallow waters of the Danish straits, in the Baltic Sea, near the island of Bornholm.

Swedish seismologists estimated that the power of the explosions may have reached the equivalent of up to 700 kg of TNT. Both NS and NS2, near the strong currents around Borholm, are placed at the bottom of the sea at a depth of 60 meters.

The pipes are built with steel reinforced concrete, able to withstand impact from aircraft carrier anchors, and are basically indestructible without serious explosive charges. The operation – causing two leaks near Sweden and two near Denmark – would have to be carried out by modified underwater drones.

Every crime implies motive. The Russian government wanted – at least up to the sabotage – to sell oil and natural gas to the EU. The notion that Russian intel would destroy Gazprom pipelines is beyond ludicrous. All they had to do was to turn off the valves. NS2 was not even operational, based on a political decision from Berlin. The gas flow in NS was hampered by western sanctions. Moreover, such an act would imply Moscow losing key strategic leverage over the EU.

Diplomatic sources confirm that Berlin and Moscow were involved in a secret negotiation to solve both the NS and NS2 issues. So they had to be stopped – no holds barred. Geopolitically, the entity that had the motive to halt a deal holds anathema a possible alliance in the horizon between Germany, Russia, and China.

…click on the above link to read the rest of the article…

Six months into Ukraine’s collapse, the world has changed forever

August 26, 2022

Six months into Ukraine’s collapse, the world has changed forever

The inevitable transfer of power away from the west is leading to a surge in state-sponsored terrorism, but this will do little to reverse the trend

https://media.thecradle.co/wp-content/uploads/2022/08/Putin-winter-is-coming.jpg

Photo Credit: The Cradle

Six months after the start of the Special Military Operation (SMO) by Russia in Ukraine, the geopolitical tectonic plates of the 21^st century have been dislocated at astonishing speed and depth – with immense historical repercussions already at hand.

To paraphrase T.S. Eliot, this is the way the (new) world begins, not with a whimper but a bang.

The cold-blooded assassination of Darya Dugina – terrorism at the gates of Moscow – may have fatefully coincided with the six-month intersection point, but will do nothing to change the dynamics of the current, work-in-progress, historical shift.

Russia’s Federal Security Service (FSB) appeared to have cracked the case in a little over 24 hours, designating the perpetrator as a neo-Nazi Azov operative instrumentalized by the Security Service of Ukraine (SBU) – itself a mere tool of the CIA/MI6 combo that de facto rules Kiev.

The Azov operative is just a patsy. The FSB will never reveal in public the intel it has amassed on those that issued the orders, and how they will be dealt with.

One Ilya Ponomaryov, an anti-Kremlin minor character granted Ukrainian citizenship, boasted he was in contact with the outfit that prepared the hit on the Dugin family. No one took him seriously.

What is manifestly serious, however, is how oligarchy-connected organized crime factions in Russia would have a motive to eliminate Alexander Dugin, the Christian Orthodox nationalist philosopher who, according to them, may have influenced the Kremlin’s pivot to Asia (he didn’t).

…click on the above link to read the rest of the article…

Washington steals over 80 percent of Syria’s oil output per day

August 14, 2022

Washington steals over 80 percent of Syria’s oil output per day

The losses incurred by the trafficking campaign surpass $100bln, according to Syria’s oil ministry

https://media.thecradle.co/wp-content/uploads/2022/08/ustroopssyria2.jpg

(Photo credit: USA Today)

The Syrian Oil Ministry released a statement on 9 August accusing US forces occupying Syria of being responsible for the theft of most of the country’s oil.

“The amount of oil production during the first half of 2022 amounted to some 14.5 million barrels, with an average daily production of 80.3 thousand barrels, of which 14.2 thousand are delivered daily to refineries,” the oil ministry’s statement said.

The statement went on to say that “US occupation forces and their mercenaries,” referring to the US-backed Syrian Democratic Forces (SDF), “steal up to 66,000 barrels every single day from the fields occupied in the eastern region,” amounting to around 83 percent of Syria’s daily oil production.

According to the ministry’s data, the Syrian oil sector has incurred losses nearing “about 105 billion dollars since the beginning of the war until the middle of this year” as a result of the US oil theft campaign.

Additionally, the statement added that alongside the financial losses incurred by the oil sector were “losses of life, including 235 martyrs, 46 injured and 112 kidnapped.”

On 10 August, footage filmed by a Russian attack helicopter was released on social media, showing a convoy of trucks operated by the US military, smuggling stolen oil destined for Iraq, out of Raqqah.

Recently, the US army, which currently occupies northeast Syria, has been consistently looting the country’s oil and smuggling it into their bases in Iraq through several illegal border crossings.

Local sources in Syria’s Hasakah governorate reported on 6 August that the US army looted and smuggled dozens of oil tankers out of the country, making it the second stolen oil shipment by the US that week.

…click on the above link to read the rest of the article…

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