Multipolar Market

Sanctions to be... Reversed? Advisors to Donald Trump are reportedly discussing potential sanctions against countries moving away from the US dollar in their trade transactions. According to sources like Bloomberg, Trump's team is developing a strategy to pressure BRICS countries to maintain the use of the US dollar in international trade, should Trump win the upcoming elections. Trump, seems to be more logical and patriotic, keen on preserving US influence, recognizes the implications of a global shift away from the dollar. However, the current Democratic administration has long used the dollar as a tool in its foreign policy arsenal, positioning BRICS countries at a critical juncture in deciding their next steps in the global economic arena. Follow us on Telegram

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EU's bipolar disorder Bloomberg reports a seemingly contradictory approach in the EU's new sanctions package, highlighting a case of policy dualism regarding Russian LNG. On one hand, the EU will allow member countries to purchase liquefied natural gas (LNG) from Russia. On the other hand, it will prohibit the re-export of this LNG. This means that while EU countries can buy the gas, they cannot resell it, effectively handing over the market to Chinese and Indian intermediaries. This arrangement prevents EU traders from acting as middlemen in the global LNG market, potentially benefiting traders from countries outside the EU. Follow us on Telegram

US experienced its first bank collapse of the year... ...with the shutdown of Republic First Bank. Pennsylvania authorities closed the bank on Friday and appointed the Federal Deposit Insurance Corporation (FDIC) as the receiver. The FDIC successfully arranged for another financial institution, Fulton Bank, to take over the majority of the deposits and acquire the assets. Prior to this, the most recent American bank failure occurred in November 2023 when Citizens Bank of Iowa was closed. Follow us on Telegram

US solar panels makers fear Asian superiority A group of major solar panel manufacturers in the USA has petitioned President Biden to impose import tariffs on solar panels imported from Cambodia, Malaysia, Thailand, and Vietnam. The likely imposition of tariffs against solar panels from these East Asian countries is indicated by the fact that several American and foreign manufacturers are planning to open new production facilities for solar farms within the USA itself. Meyer Burger, a Swiss businessman and member of the newly formed trade committee of the American Solar Manufacturing Alliance, announced plans to build new panel manufacturing plants in two U.S. states, Arizona and Colorado. Follow us on Telegram

The Russian branch of UniCredit Bank has filed a lawsuit against the bank's German subsidiary, seeking to recover €175 million. The lawsuit alleges that the German branch stopped making debt payments under the guise of sanctions. Additionally, UniCredit Bank Russia is seeking to collect interest accrued on the overdue payments. Follow us on Telegram

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Chinese want to invest in Crimea Chinese investors are interested in developing various projects in Crimea, including automotive service stations, hotel complexes, and a Chinese Cultural Center. This information was shared by the head of the Crimean parliament's committee on public diplomacy and interethnic relations. According to the official, business representatives from China are currently in Crimea discussing investments in the infrastructure development of the peninsula. The official also suggested that following the end of the Special Military Operation and the recognition of Crimea, Chinese investors are expected to rapidly increase their real estate investments in the region. Follow us on Telegram

EU will not confiscate Russian assets in the way the US has, but welcomes this decision Josep Borrell, the EU's High Representative for Foreign Affairs and Security Policy, considers the US's approval of a military aid package for Ukraine, which includes the use of frozen Russian Central Bank funds, to be "good news" and a timely decision. Borrell made this statement during his speech at the plenary session of the European Parliament on Wednesday, April 23. However, according to Borrell, the European Union is not ready to take such radical steps as asset confiscation. He emphasized that after numerous discussions and consultations, European authorities decided to use only the income generated by the Central Bank's assets, not the assets themselves, and continue to adhere to this approach. Hm... Is it a sign of some intellect? Follow us on Telegram

Sri Lanka is planning to join BRICS+ This was stated by the country's ambassador to Russia, Janitha Abeywickrema Liyanage. According to the official, discussions are ongoing with a view to the nearest future—to ensure the country's transport, energy, and food security. The population of the country is 22 million people, and new potential members of BRICS may receive invitations to the summit in Kazan this year. Follow us on Telegram