According to the Bank of Russia, Russia’s central bank, the Kremlin holds more gold in its reserves for the first time in history than the US Dollars. It is a warning to the United States that Russia is willing to risk de-dollarizing its economy.
Since 2014, Russia has been reducing its holding of US Dollars. To replace them, it has accumulated gold and non-American currencies, primarily the Euro. The Bank of Russia reports that only 22% of its international reserves are in US Dollars, while gold accounts for 23%.
Russia holds approximately $591 billion in international reserves. Its largest reserve…
Chinese Foreign Minister Wang Yi met with the foreign ministers of Turkmenistan, Uzbekistan, Kyrgyzstan, Tajikistan, and Kazakhstan in Xi’an, Central China, on May 12th.
During the high-level talks, Wang called on Central Asian countries to increase their cooperation with China on infrastructure projects to connect them to the Belt and Road Initiative.
Among the specific infrastructure projects discussed include the China-Europe railway, the China-Kyrgyzstan-Uzbekistan railway, and other transnational railways.
According to the Asia Plus report, the total accumulated Chinese investment in Tajikistan surpassed $3.1 billion at the end of 2020. …
While addressing business and political leaders during the St Petersburg International Economic Forum on June 4th, Russia’s President Vladimir Putin announced the completion of work on the first line of the Nord Stream 2 gas pipeline.
He also stated that once Germany gives the go-ahead, the pipeline can start supplying gas within ten days. However, the second line has approximately 34 miles left to be completed, which the Kremlin estimates will take about two months.
The Nord Stream 2 pipeline is an extension of the Nord Stream 1 pipeline. Both are the world’s longest subsea pipelines.
It starts from Russia’s…
From Lisbon to Tokyo, groups of European and Asian nations are hammering out massive trade deals and constructing billions of dollars worth of infrastructure to connect themselves better.
With the ideological divide between the West and East fading away, trade links between Asia and Europe are expanding at a colossal speed.
Apart from Europe and Asia, Latin America is being drawn deeper into the Eurasian sphere.
These trade deals, trends, and infrastructure projects have one common denominator; they exclude the United States of America.
China has taken the lead towards integrating Eurasia through the Belt and Road Initiative (BRI).
The European Union has always pushed to control its member states. Recently we have seen an increasing hardihood to crack down on anyone who attempts to disagree with it; ask the UK, Poland, and Hungary.
Recently, the EU’s war against Switzerland is another example of its desire for power and authority in the European continent.
Switzerland, a small country of 8.6 million located at the center of Europe, is surrounded by EU member states.
Although it chose to remain outside the bloc, it maintains close relations with the EU. Already, the EU is Switzerland’s largest trading partner. …
On May 23rd, Ryanair flight 4978 from Greece to Lithuania was forced to land in Belarus after flying over the country’s air space.
Onboard the flight included an anti-government activist, Roman Protasevich. He is the co-owner and former editor of Nexta, a dissident media channel on the messaging app Telegram. Nexta was one of the few independent media outlets in Belarus covering the demonstrations.
He was on his way back…
The Biden administration, on May 19th, waived sanctions on Russia’s Nord Stream 2 natural gas pipeline project.
Instead, The Biden administration now plans to sanction entities involved in the pipeline project individually. As of May 20th, about eight Russian entities have been sanctioned by the United States.
However, the German entities involved in the pipeline project can continue work sanction-free.
It is unclear if the sanctions on Russian entities will impact them since they do little or no business with the United States. For instance, one of them is the Russian Marine Rescue Service.
President Putin of Russia has a plan to control Europe. It involves making Europe reliant on Russia.
According to EU data, in 2019, about 28% of oil imports into Europe came from Russia. Also, about 45% of natural gas imports into Europe came from Russia as well. Therefore, Russia was the largest oil and gas supplier to Europe in 2019.
To make Europe even more dependent on Russian energy, Putin, in 2012, approved the construction of the Nord Stream 2 gas pipeline to Germany.
Japan hosted the French and the US armies in ground military exercises on May 11th. All three countries seek to strengthen military ties amid growing Chinese naval power in the region.
The “ARC21” exercise began on May 11th at Camp Ainoura base. The base is the headquarters of Japan’s Amphibious Rapid Deployment Brigade.
About 100 Japanese troops and 60 troops each from the French Army and the US Marine Corps conducted ship interception, urban warfare drills, and amphibious operation exercises.
Later in the week, they flew to Kirishima training ground for an urban warfare drill at a facility designed to…
One of the United States’ most crucial energy pipeline was shut down by a cyberattack.
The Colonial Pipeline, which supplies the eastern side of the United States with approximately 45% of its fuel, reported the attack on May 8th.
The pipeline authorities, on May 9th, stated that it was a ransomware attack. As a result, the corporation had to take “certain systems offline to contain the threat.”
After some investigations, the FBI blamed ransomware group DarkSide for the cyber hack. DarkSide is a ransomware gang believed to be based in Russia or Eastern Europe.
Ransomware is a malware attack that…