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Workers Revolutionary Party The Iranian Navy’s largest ever vessel ‘Makran’, a logistics ship with a helicopter deck, taking part in the military drills Iran’s senior military commander says the country’s recent back-to-back military drills have made the United States give up its threats of military action against the Islamic Republic. The remarks came less than a week after Iran’s Army and the Islamic Revolution Guards Corps (IRGC) wrapped up a series of manoeuvers which saw the forces test their various armed units during 15 days of ...

The impact of China’s de-dollarisation Thursday January 28 2021 Summary We might perhaps say that nothing will happen to sub-Saharan Africa (SSA) since inflation has been on a downward trajectory. However, dollarisation is often associated with countries with macro-economic instability. Countries such as Somalia and Zimbabwe stand out in the SSA as those that may not switch immediately to unfamiliar currencies like the yuan because of the high inflation. The news about China dumping the dollar in favour of its own Renminbi (RMB) cryptocurrency is creating a lot of debates among stakeholders...

Advertisement Among the many legacies of the Trump era is the distrust and resentment it has sown in the primacy of the US dollar in international trade and the way the US under Trump has been prepared to exploit its reserve currency status. With America having demonstrated its willingness to use that status to further its geopolitical goals – to weaponise the dollar, using its dominance as an enforcement tool – that mistrust isn’t going to disappear with the departure of Trump and the advent of the more conventional Biden administration. During the Trump presidency, the administration ...

Chinese Academic Pushes Beijing for RCEP-Based SWIFT Alternative to Survive US Sanctions © AP Photo / Kin Cheung Sputnik International https://sputniknews.com/business/202101191081818142-chinese-academic-pushes-beijing-for-rcep-based-swift-alternative-to-survive-us-sanctions/ After the US unilaterally pulled out of the 2015 nuclear deal with Iran, it was successfully able to pressure the Society for Worldwide Interbank Financial Telecommunication (SWIFT), the Belgium-based bank wiring service, into cutting transactions with Iran even though Brussel...

What’s new? The 2015 Iran nuclear deal has looked at best shaky since the Trump administration withdrew from it in 2018, imposing damaging economic sanctions on the Islamic Republic. In response, Tehran ramped up its nuclear activity in contravention of its obligations under the agreement. President-elect Joe Biden’s inauguration could mark an inflection point. Why does it matter? Having failed to achieve its objectives, Trump’s “maximum pressure” strategy may be nearing an end. Restoring the nuclear deal, with its considerable non-proliferation benefits, could lead to wider U.S...