Russia seeks to ‘democratize’ global development through BRICS
Russia is taking the lead in efforts to more evenly spread the benefits of global economic development through the creation of a platform allowing countries to trade in their own currencies.
The proposed system would create a mechanism whereby countries that accumulate an excess in foreign currencies would be granted credits to be used in trade. The BRICS bloc’s consideration of the idea suggests such a system could come about voluntarily, with BRICS members adopting the practice as the bloc gradually expands.
Currently the US benefits though the US dollar’s status as the world’s global reserve currency, traditionally used in the purchase of oil and other commodities. The arrangement stabilizes the country’s currency and has allowed it to pursue massive deficit spending. A system that uses various currencies would work to more evenly distribute the benefits of using countries’ currency in global trade, Tauheed explained.
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Russia is taking the lead in efforts to more evenly spread the benefits of global economic development through the creation of a platform allowing countries to trade in their own currencies.
“Not only is it a better idea than the current system where the dollar is the currency of transaction, [but] it's not a new idea,” said expert Linwood Tauheed on Sputnik’s The Critical Hour program. “This is an idea that was proposed by John Maynard Keynes during the Bretton Woods meetings that eventually ended up with the dollar as the reserve currency.”
The proposed system would create a mechanism whereby countries that accumulate an excess in foreign currencies would be granted credits to be used in trade. The BRICS bloc’s consideration of the idea suggests such a system could come about voluntarily, with BRICS members adopting the practice as the bloc gradually expands.
“The strength of the dollar is based on the demand for dollars,” the economist noted. “If the demand for dollars decreases because countries are able to buy in their own national currency, then the strength of the dollar relative to other currencies decreases because demand goes down. That means that the demand for other currencies goes up.”
Currently the US benefits though the US dollar’s status as the world’s global reserve currency, traditionally used in the purchase of oil and other commodities. The arrangement stabilizes the country’s currency and has allowed it to pursue massive deficit spending. A system that uses various currencies would work to more evenly distribute the benefits of using countries’ currency in global trade, Tauheed explained.
“There's a democratization of the power of money in the international sphere,” he said. “And, of course, one of the issues of the BRICS is to democratize this process of developing so that it's not a few countries that benefit from trade, but all countries benefit from trade.”
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❗️Russian air defense forces intercepted and destroyed 70 Ukrainian drones over the Rostov region overnight, the Defense Ministry said.
In addition, 17 drones were intercepted and destroyed over the Belgorod, Volgograd, Voronezh and Kursk regions and Crimea, the Russian Defense Ministry added.
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In addition, 17 drones were intercepted and destroyed over the Belgorod, Volgograd, Voronezh and Kursk regions and Crimea, the Russian Defense Ministry added.
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'Less than nothing': US, Ukraine agreement is symbolic and lacks longevity
The US and Ukraine signed a bilateral security pact on Thursday during the G7 summit in Italy. The agreement follows months of negotiations between the two parties, and has resulted in a 10-year commitment for the training of Ukraine’s forces, as well as other continued military assistance by the US. However, the agreement could easily be undone by future presidents, as the pledge is an executive agreement and not a treaty.
“It's got to be incredibly frustrating and disappointing to [Kiev],” he added. “This tells the Kiev regime that you get what you're already getting. We're going to do it 10 years into the future, but it is an executive decision. It is not a treaty, which means it can easily just be reversed by [former President] Donald Trump or [Vice President] Kamala Harris or anyone else who assumes the office.”
In April, Biden signed a $61 billion military aid package for Ukraine. Afterwards, Zelenksy said that the US and Ukraine would work to create a long-term bilateral security agreement similar to agreements Ukraine had signed with France and Germany, Sputnik reported.
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“This [agreement] is totally symbolic. This is absolutely nothing; in fact, it's less than nothing,” said Moscow-based international relations and security analyst Mark Sleboda, who joined Sputnik's The Critical Hour.
The US and Ukraine signed a bilateral security pact on Thursday during the G7 summit in Italy. The agreement follows months of negotiations between the two parties, and has resulted in a 10-year commitment for the training of Ukraine’s forces, as well as other continued military assistance by the US. However, the agreement could easily be undone by future presidents, as the pledge is an executive agreement and not a treaty.
“It's got to be incredibly frustrating and disappointing to [Kiev],” he added. “This tells the Kiev regime that you get what you're already getting. We're going to do it 10 years into the future, but it is an executive decision. It is not a treaty, which means it can easily just be reversed by [former President] Donald Trump or [Vice President] Kamala Harris or anyone else who assumes the office.”
In April, Biden signed a $61 billion military aid package for Ukraine. Afterwards, Zelenksy said that the US and Ukraine would work to create a long-term bilateral security agreement similar to agreements Ukraine had signed with France and Germany, Sputnik reported.
“The Biden administration knows that it has very little limited time and very little pull over Congress. It doesn't want to promise anything publicly that it can't back up or adhere to, even assuming that it's capable of being reelected in November, which is unlikely,” Sleboda said.
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The data of the underground agent helped the Russian military to detect and destroy a Ukrainian group and a German "self-propelled gun" PZH 2000 near Kizomys in Kherson, coordinator of the Nikolayev underground Sergei Lebedev told Sputnik.
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The Palestinian government is ready to control the Rafah checkpoint on the border with Egypt in the presence of international observers, provided that Israeli troops withdraw, Palestinian Minister of National Economy Mohammed Al-Amour told Sputnik.
Negotiations between Israel, Egypt and the United States to open the Rafah crossing have stalled over Israel's refusal to allow Palestine to operate the site in any way, the Israeli news portal Walla reported, citing senior US and Israeli officials.
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"The Palestinian position is clear: readiness to work at the Rafah checkpoint in the south of the Gaza Strip in accordance with the agreement concluded in 2005 in the presence of international observers, so that this is in the interests of our people and subject to the withdrawal of the occupying Israeli forces," the minister said.
Negotiations between Israel, Egypt and the United States to open the Rafah crossing have stalled over Israel's refusal to allow Palestine to operate the site in any way, the Israeli news portal Walla reported, citing senior US and Israeli officials.
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❗️NATO wants to establish military bases in Poland, Romania and Slovakia as part of its mission in Ukraine to coordinate arms deliveries to Kiev, Hungarian Prime Minister Viktor Orban said.
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❗️The "peace summit" in Switzerland is an attempt at fraud, the West is trying with all its might to drag the countries of the global South there, and the main purpose of the event is to present Moscow with an ultimatum in the form of Zelensky's "peace plan," Russia's Permanent Representative to the UN Vasily Nebenzia told Sputnik.
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❗️Russian military court recognized Georgian National Legion as terrorist organization, the Russian Federal Security Service (FSB) announced.
The formation was created in 2014 under the auspices of Ukrainian military intelligence.
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The formation was created in 2014 under the auspices of Ukrainian military intelligence.
"Members of the legion take part in hostilities on the side of the Ukrainian armed forces and are also involved in organizing sabotage and terrorist attacks on the territory of Russia, torturing servicemen of the Russian armed forces and killing civilians," the FSB said.
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Ukrainian pilots’ F-16 ‘training pipeline pretty meager’ – report
Problems related to the delivery of US-made F-16 fighter jets to the Kiev regime remain - "from the number of pilots who will be able to fly them to crews ready to keep them working," an unnamed senior American defense official told Defense News.
The "training pipeline" for Ukrainian pilots on the F-16s "is pretty meager," the official said, adding that training remains the main "kink" in the process to deliver the F-16s to Ukraine.
Up to 60 F-16s are expected to be delivered to Ukraine this year from Denmark, Norway, the Netherlands and Belgium.
Russian President Vladimir Putin has stressed that the F-16s will not change the situation on the battlefield and that they will be destroyed just like other Western military equipment delivered to Kiev.
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Problems related to the delivery of US-made F-16 fighter jets to the Kiev regime remain - "from the number of pilots who will be able to fly them to crews ready to keep them working," an unnamed senior American defense official told Defense News.
The "training pipeline" for Ukrainian pilots on the F-16s "is pretty meager," the official said, adding that training remains the main "kink" in the process to deliver the F-16s to Ukraine.
"Between Europe and the US, there are only a dozen Ukrainian pilots learning to fly the planes right now. That's just a handful of pilots, and that's just the pilots," the source said. Other members of an F-16 crew, such as maintainers who keep the fighter in working order, are also critical, the official said. Other issues include "the length of the course itself - made more difficult by the highly technical English language training required - and finding a place to store the trainers," they added.
Up to 60 F-16s are expected to be delivered to Ukraine this year from Denmark, Norway, the Netherlands and Belgium.
Russian President Vladimir Putin has stressed that the F-16s will not change the situation on the battlefield and that they will be destroyed just like other Western military equipment delivered to Kiev.
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Sputnik International
❗️The "peace summit" in Switzerland is an attempt at fraud, the West is trying with all its might to drag the countries of the global South there, and the main purpose of the event is to present Moscow with an ultimatum in the form of Zelensky's "peace plan…
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Do Israelis prefer Gantz to Netanyahu as PM?
Israel's National Unity chairman Benny Gantz would beat Prime Minister Binyamin Netanyahu if elections were held today, the Times of Israel reported, citing the Maariv poll.
The results of the poll showed Gantz with 41% of the vote, while Netanyahu's approval rating was less than 40%.
The poll comes on the heels of Gantz's party's withdrawal from Netanyahu's government and Israel's rescue of four hostages from Hamas captivity in Gaza.
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Israel's National Unity chairman Benny Gantz would beat Prime Minister Binyamin Netanyahu if elections were held today, the Times of Israel reported, citing the Maariv poll.
The results of the poll showed Gantz with 41% of the vote, while Netanyahu's approval rating was less than 40%.
The poll comes on the heels of Gantz's party's withdrawal from Netanyahu's government and Israel's rescue of four hostages from Hamas captivity in Gaza.
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Such documents have no legal force, said Russian Foreign Ministry spokeswoman Maria Zakharova, commenting on the US-Ukraine security agreement.
The US and Ukraine signed a bilateral security agreement during the G7 summit in Italy. However, the agreement could easily be reversed by future presidents, as the pledge is an executive agreement, not a treaty.
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The US and Ukraine signed a bilateral security agreement during the G7 summit in Italy. However, the agreement could easily be reversed by future presidents, as the pledge is an executive agreement, not a treaty.
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Houthis strike Ukrainian ship in Gulf of Aden
The Yemeni Houthis fired two anti-ship cruise missiles at a Ukrainian-owned cargo ship in the Gulf of Aden, the US Central Command (CENTCOM) said.
The Houthis confirmed the attack:
The Houthis also said their equipment directly hit the Marshall Islands-flagged ship SeaGuardian and the Liberian-flagged bulk carrier Athina in the Red Sea.
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The Yemeni Houthis fired two anti-ship cruise missiles at a Ukrainian-owned cargo ship in the Gulf of Aden, the US Central Command (CENTCOM) said.
"Both missiles struck M/V Verbena, a Palauan-flagged, Ukrainian-owned, Polish-operated bulk cargo carrier," CENTCOM announced on X.
The Houthis confirmed the attack:
"The naval, missile, and UAVs forces of the Yemeni Armed Forces and with the help of Allah almighty carried out three military operations within the past 24 hours as follows: The first operation carried out by the missile forces in the Arabian Sea targeting the ship 'Verbena' and the hit was accurate caused fire ignition on it," the movement wrote on Telegram.
The Houthis also said their equipment directly hit the Marshall Islands-flagged ship SeaGuardian and the Liberian-flagged bulk carrier Athina in the Red Sea.
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📹"We're Russian. We'll break through"
Russian NTV correspondent Alexey Ivliev lost his arm when he was wounded in Gorlovka, the Donetsk People's Republic, on Thursday.
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Russian NTV correspondent Alexey Ivliev lost his arm when he was wounded in Gorlovka, the Donetsk People's Republic, on Thursday.
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🚨LIVE: Putin to meet with Russian foreign ministry officials
Russian President Vladimir Putin is expected to meet with top Russian Foreign Ministry officials and discuss all major issues, including Ukraine, presidential aide Yuri Ushakov said.
Stay tuned!
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Russian President Vladimir Putin is expected to meet with top Russian Foreign Ministry officials and discuss all major issues, including Ukraine, presidential aide Yuri Ushakov said.
Stay tuned!
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❗️LIVE NOW: Russia's President Putin meets with Russian foreign ministry officials
👉 Watch the livestream here or on Sputnik's website
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👉 Watch the livestream here or on Sputnik's website
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❗️The world is changing rapidly and will not be the same as before - in terms of global politics and economics, Vladimir Putin said.
The foundations of a multipolar world order are being laid on the basis of a new reality, Putin said.
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"More and more states are striving to strengthen their sovereignty," the Russian president added.
The foundations of a multipolar world order are being laid on the basis of a new reality, Putin said.
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Media is too big
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❗️Russia sees other countries' growing interest in BRICS — Putin
According to Putin, BRICS will eventually become one of world’s core regulatory institutions
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"Russia will facilitate the smooth integration of new participants into BRICS," the Russian president said.
According to Putin, BRICS will eventually become one of world’s core regulatory institutions
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Sputnik International
❗️The world is changing rapidly and will not be the same as before - in terms of global politics and economics, Vladimir Putin said. "More and more states are striving to strengthen their sovereignty," the Russian president added. The foundations of a multipolar…
❗️Russia is interested in developing dialogue at the UN on creating a system of indivisible security, Vladimir Putin said.
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