🔹 Moldovan 🇲🇩 police raided the central election commission of Gagauzia, alleging irregularities after a politician championing better relations with Russia 🇷🇺, and not the EU 🇪🇺, won the local gubernatorial vote. Supporters of the Shor party & citizens accuse Chisinau of intimidating the Gagauzia authorities.

🔹 Gagauzia, an autonomous region in southern Moldova, elects its own bashkan – governor – and Sunday’s run-off saw the victory of Yevgenia Gutsul, with 52.36% of the vote. Gutsul represents the Shor party, which the gov't in Chisinau has tried to ban. The National Assembly of Gagauzia intend to approve Gutsul as bashkan.

🔹Thousands rallied outside the Constitutional Court in Chisinau 🇲🇩, protesting against the verification of the legitimacy of the Shor party and its possible ban.

Last reported on this channel:

💠 Ex-Moldovan President Igor Dodon has voiced concerns over a possible provocation against Transnistria by Ukraine 🇺🇦.

💠 Feb 19th '23 Moldovan protestors call for resignation of president Maya Sandu.

💠 Moldovan PM N. Gavrilita resigned & was replaced with an even more pro-EU PM. Moldova forced several Russian-language media outlets to shut down after not renewing their broadcasting licenses.

💠 In late 2022, multiple protests took place in Chisinau, 🇲🇩 calling for the resignation of pro-EU president Sandu amid high energy prices. Some protests grew violent with police brutalities resulting with some protests escorted by retired military. Protests reported on this channel, on Nov 28th, Nov 13th, Oct 30th, Oct 23rd, Oct 16th & Sep 9th.

Video source - People Say

🔹 Iran 🇮🇷 and Russia 🇷🇺 have signed an agreement on the construction of the Rasht-Astara railway, a strategic transport corridor that connects the existing railways of the two countries and Azerbaijan 🇦🇿.

🔹 The 162-kilometer railway 🚃 will connect the Iranian city of Rasht, near the Caspian Sea, to Astara on the border with Azerbaijan. The project is aimed at integrating the transport and information routes of Russia, Azerbaijan, Iran and India, within the framework of the International North-South Transport Corridor (INSTC).

🔹 Russia’s Deputy PM Alexander Novak led a high-ranking delegation to major events and ceremonies in Tehran on where Iranian and Russian ministers and senior officials signed contracts and MoUs worth billions of dollars.

🔹 Russia’s second-largest and majority state-owned VTB Bank has opened up a representative office in Iran to further connect their interbank communication and transfer systems in the face of Western sanctions.

Last reported on this channel:

💠 A trilateral deal was signed by Azerbaijan 🇦🇿, Russia, and Iran to facilitate the development of the INSTC. From Jan-Oct. 2022, the INSTC trade turnover exceeded $3 billion, thus growing by 20%.

💠 Russia and India 🇮🇳 are considering the possibility of creating a transarctic container line and building processing facilities near the Northern Sea Route.

Video source - RT News

🔹President R. Erdogan of Türkiye 🇹🇷 announced that Russia 🇷🇺has backed the extension of the Black Sea grain and fertilizer agreement by another two months. It was due to expire today, after Moscow said the West had failed to keep its end of the bargain.

🔹He thanked Russian President Vladimir Putin for supporting the Turkish initiative to extend the arrangement, and promised Ankara would do everything it can to see it fully implemented. Wheat futures on the Chicago Board of Trade dropped 📉 2% to $6.12 a bushel. Prices have fallen 23% since the start of the year, and dropped 57% since hitting an all-time high of $14.30 a bushel in March last year.

🔹The West has not fulfilled previous guarantees of removing all barriers to the export of Russian grain 🌾 & fertilizers, which is part of the July 2022 deal.

Timeline of grain deal developments reported here:

💠 Russia 🇷🇺 extended the grain deal for 60 days (in March) instead of 120 days because of failures to remove restrictions on Russian agricultural exports.

💠 Most grain from Ukraine goes to the EU 🇪🇺 for animal feed at dumping prices, not to the poorest countries.

💠 Russia resumes participation to the Black Sea grain deal after guarantees to lift restrictions on Russian exports of food & fertilizers.

💠 Russia suspends grain deal after ships in the Black Sea were attacked by Ukraine 🇺🇦.

💠 Grain 🌾 deal hypocrisy by western countries, exposed.

💠 Chairman of the African Union visits Russia to discuss food crisis in Africa.

💠 Grain deal signed with safe routes 🚢 made in Black Sea. Previous deal was botched by Ukraine.

Video source - RT News

🔹Chinese 🇨🇳 President Xi Jinping unveiled a grand plan for Central Asia's development, from building infrastructure to boosting trade, taking on a new leadership role in a region. China is ready to coordinate development strategies with Kazakhstan 🇰🇿, Kyrgyzstan 🇰🇬, Tajikistan 🇹🇯, Turkmenistan 🇹🇲 and Uzbekistan 🇺🇿, and promote the modernisation of all.

🔹The five former Soviet republics, with a network of trade corridors, offer China alternative routes to transport fuel, food and other commodities in the event of disruptions elsewhere. "No one has the right to sow discord or stoke confrontation in the region, let alone seek selfish political interests," President Xi said. The Central Asian leaders thanked China for proposing and successfully hosting the first China-Central Asia Summit.

🔹 Rejecting foreign media's hyping of Russia 🇷🇺-China 🇨🇳 competition in this region, China's enhanced cooperation with Central Asia benefits Russia and the region. Cooperation between the three sides are complementary, and there is no contradiction in China and Russia's cooperation with Central Asia.

Previous China - Central Asia developments reported on this channel:

💠 China's central bank signed a MoU on setting up yuan clearing arrangements in Kazakhstan 🇰🇿.

💠 Russia 🇷🇺 is discussing a possible “gas union” with Kazakhstan & Uzbekistan 🇺🇿 to support shipments between the 3 countries & to China.

💠 The top diplomats of Tajikistan 🇹🇯, Turkmenistan 🇹🇲 and Uzbekistan participate with Russia, China, Iran & Pakistan for a ministerial conference of Afghanistan’s neighboring countries.

💠 Chinese President Xi Jinping wants China 🇨🇳 to cooperate more with SCO member Turkmenistan 🇹🇲 on energy.

Video source - ShanghaiEye

🔹Syria’s 🇸🇾President Bashar al-Assad attended today's 32nd Arab League summit in Saudi Arabia’s 🇸🇦 port city of Jeddah. Syria was suspended from the regional body 12 years ago and has been recently re-admitted.

🔹Main streets in Jeddah were lined with the flags 🇸🇾🇸🇦 of Arab League member states including Syria. MBS also received Al-Assad on the sidelines of the Arab Summit in Jeddah. During the meeting, they discussed bilateral relations between the two brotherly countries and developments in the Arab arena.

🔹Washington 🇺🇸 has objected to any steps towards normalisation with Assad, saying there must first be progress towards a political solution to the conflict.

Recent Syria developments reported on this channel:

💠 Top diplomats from Iran🇮🇷, Türkiye 🇹🇷, Russia 🇷🇺 and Syria 🇸🇾met in Moscow to ensure the Arab country’s sovereignty and territorial integrity, and setting up a roadmap to improve strained ties between Damascus and Ankara.

💠 The Arab League readmitted Syria, after more than a decade of suspension.

💠 First visit of an Iranian president to Syria in more than a decade. 14 documents were signed on expanding economic cooperation.

💠 Saudi Arabia’s 🇸🇦 FM Prince Faisal bin Farhan visited Syrian President Bashar al-Assad in Damascus. First such trip since 2011.

💠 Syria's 🇸🇾 Foreign Minister visits Saudi Arabia, first such trip since 2012.

💠 Tunisia 🇹🇳 initiates procedures that would appoint a new ambassador to Syria.

💠 UAE 🇦🇪 President was visited by the Syrian Preisident. UAE calls for Damascus to be reintegrated into the wider Arab region.

Video source- Syriana Analysis

🔹The 14th International Economic Summit (KazanForum 2023) kicked off in Kazan, the capital of the Russian 🇷🇺Republic of Tatarstan, to strengthen cooperation in commerce, economy, research, and technology and develop social and cultural relations between Russia and the Muslim world. The event hosted over 7,000 attendees from 85 nations.

🔹On the sidelines of the summit, a meeting of the Group Strategic Vision (GSV) "Russia – Islamic World" on the topic "Traditional spiritual and moral values as the basis of interreligious cooperation" was held.

🔹🇷🇺 President V. Putin statement was read at the meeting of the GSV, highlighting the “significant role” of Russian Muslims in expanding his country’s international contacts.

🔹The KazanForum 2023 aims to expand Islamic finance and the halal industry in Russia and create new markets and economic opportunities for investors. The forum will strengthen the relations between Russia and the members of the Organization of Islamic ☪️ Cooperation (OIC) in the fields of trade, culture, and science.

🔹Head of the Iran 🇮🇷 Chamber of Commerce, Industries, Mines and Agriculture, at the forum stressed the need for establishing a joint Islamic market among the members of the OIC over the next 10 years. This entails concluding a free trade agreement among Islamic countries and removing tariff and non-tariff barriers.

Video source - Телеканал ХУЗУР & KazanForum

🔹US 🇺🇸 electricity regulator, the North American Electric Reliability Corporation (NERC) 💡 report is published. No regions were highlighted as high risk but most were marked as elevated risk due to:

🔹Generator ⚙️ retirements continue to increase the risks associated with extreme summer temperatures, which factors into potential supply shortages in the western two-thirds of North America if summer temperatures spike.

🔹New environmental rules that restrict power plant emissions will limit the operation of coalfired 🏭 generators in 23 states, including Nevada, Utah, and several states in the Gulf Coast, mid-Atlantic, and Midwest.

🔹Low inventories of replacement distribution transformers 🔋could slow restoration efforts following hurricanes and severe storms.

🔹Unexpected tripping of wind and solar PV resources during grid disturbances continues to be a reliability concern.

🔹Winter precipitation is expected to improve the water supply for hydro generation in parts of the U.S. West, but low water💧levels on major reservoirs remain a concern for electricity generation.

Previous posts on the US power grid reported:

💠 Projection of EV growth raises concerns over the increasing strain on power grids being ill-equipped to shoulder the load.

💠 Utility co.’s face delays & high costs 📈 for transformers.

💠 A surge in decommissioning fossil fuel power plants 🏭 has outpaced new generation capacity.

💠 Increased EV 🚗 use leading to demand strain on grid sectors.

💠 GE plans to make major job cuts in its U.S. wind operations.

Video source - NERC

🔹Moldova 🇲🇩 - The Grayzone has exclusively obtained video recordings of numerous well-connected figures within Chisinau’s political and business community openly – and gloatingly – testifying to rank malfeasance within the country’s government and economy, while outlining various schemes to enrich Western investors for an appropriate fee.

🔹In the recordings, pranksters posing as wealthy US business people contacted multiple Moldovan officials, one being Moldovan politician and lawyer Stanislav Pavlovschi, asking for assistance in securing a gigantic return for investing $50 million in Chisinau. Pavlovschi, a former European 🇪🇺 Court of Human Rights judge and self-styled human rights defender reveals that the US ambassador 'governs' Moldova.

🔹In a next recording, investment professional Olga Melniciuc, who formerly worked as a consultant to the Moldovan state economic council assured the pranksters that Moldova has EU & US 🇺🇸 backing so there are no obstacles to investing.

Last reported on this channel:

💠 Moldovan 🇲🇩 police raided the central election commission of Gagauzia, alleging irregularities after a politician championing better relations with Russia 🇷🇺, and not the EU 🇪🇺, won the local gubernatorial vote.

💠 Ex-Moldovan President Igor Dodon has voiced concerns over a possible provocation against Transnistria by Ukraine 🇺🇦.

💠 Feb 19th '23 Moldovan protestors call for resignation of president Maya Sandu.

💠 Moldovan PM N. Gavrilita resigned & was replaced with an even more pro-EU PM. Moldova forced several Russian-language media outlets to shut down after not renewing their broadcasting licenses.

Video source - The Grayzone.

🔹President of Turkmenistan🇹🇲 Serdar Berdimuhamedov noted that the country could continue to work on the implementation of new projects related to the supply of Turkmen natural gas in the Chinese direction.

🔹Parties are discussing the construction of the fourth branch (D) of the Turkmenistan 🇹🇲-China🇨🇳 gas pipeline, which would pass through Uzbekistan, Tajikistan and Kyrgyzstan. Between 2009 and December 2022, Turkmenistan delivered more than 350 billion cubic meters of natural gas to China through three pipeline branches that transit Uzbekistan and Kazakhstan.

🔹As the second-largest state in Central Asia and the southernmost of the five republics in the region, Turkmenistan acts as a corridor for China to reach important import and export markets in South Asia, the Middle East, Eastern Europe and beyond, as well as to access the Caspian Sea, which lies on the country's western border.

🔹The EU’s 🇪🇺 desire to expand cooperation with Central Asia, particularly through the Trans-Caspian Pipeline, is facing severe challenges. European countries are not willing to enter into long-term contracts for gas supplies due to their goal of stopping gas imports altogether in 10 to 15 years.

Previously reported on this channel:

💠 Turkmenistan attends the China-Central Asia Summit in China 🇨🇳 to coordinate development strategies.

💠 Chinese President Xi Jinping wants China to cooperate more with SCO member Turkmenistan 🇹🇲 on energy.

💠 A trilateral gas swap deal between Iran 🇮🇷, Turkmenistan & Azerbaijan 🇦🇿 helps foil sanctions imposed against Iran.

Video source - New China TV

🔹Bulgaria 🇧🇬 - The building of the European Commission Representation in Sofia was splashed with red paint today (May 21st) during a protest against "Brussels' 🇪🇺 interference in Bulgaria's internal affairs". Police presence was tightened in the area and the Foreign Ministry firmly condemned the act of vandalism.

🔹Thousands rallied for a peace march against Bulgarian arms supplies to Ukraine 🇺🇦 and to demand the country embraces neutrality. "Bulgaria has no place in international conflicts that defend foreign interests. Our sons, husbands, brothers have no place on the battlefield,” a protester said. "Only leaving NATO - an aggressive, hypocritical, lying and murderous alliance for us - can help us really guarantee peace for ourselves, peace for our children.... added a second.

🔹Demonstrators also collected signatures for a referendum named 'Bulgaria 🇧🇬for Peace and Sovereignty'. For such a referendum to be held, the organizers must collect 600,000 signatures, according to Bulgarian law. "We want the Bulgarian people to say NO to the war and to say YES to the opportunity to directly express the will of the Bulgarian people through referendums," said lawyer, Rumiana Chenalova.

Recently reported on this channel:

💠 Bulgaria & others sign MoU for the supply of additional gas from Azerbaijan 🇦🇿 through the upgraded transmission network systems called the "Solidarity Ring".

💠 Bulgaria and other eastern bloc countries face growing protests from farmers 🚜 who are concerned about falling prices and a lack of storage facilities for this year's 🌾 harvest due to an overabundance of Ukrainian grains due to the EU's zero tariff for Ukrainian grains.

Video source - RT News

🔹 Venezuelan 🇻🇪 President N. Maduro said that his country will move forward on the path of ditching the US dollar in economic transactions. He remarked, "this is the path of Venezuela and the path of a free economy, where currencies are not used to punish countries and impose sanctions".

🔹The US' 🇺🇸aggressive financial tightening has led to serious inflation in Latin American countries, hollowing out of foreign exchange reserves and growing debt pressure. Latin American countries previously had close economic relations with the US, but the US' hegemony and abuse of economic sanctions have exposed the disadvantages of overly relying on the dollar.

🔹Based on the strength of the US dollar 💵, the rationale has long been that the American economy is so important to the international financial system that any measures taken by the US and its allies to cut off a country, group, or individual would ultimately change that actor’s behavior.

Last reported on this channel:

💠 The US 🇺🇸 will gradually lift sanctions on Venezuela 🇻🇪 only if the country moves toward restoring 'fair' elections.

💠 Russia's 🇷🇺 FM S. Lavrov visited Venezuela to discuss the formation of a multipolar world order.

💠 Iran 🇮🇷 & Venezuela to share technological advances in petrochemicals, oil & gas sectors.

💠 Trinidad & Tobago 🇹🇹 asked the US for authorization to import Venezuelan gas.

💠 Türkiye's 🇹🇷 FM M. Çavuşoğlu calls on the US to lift sanctions on Venezuela.

Video source - Francisco Rodríguez

🔹More than 23,000 people in northeast Italy 🇮🇹 were still displaced today, (May 22nd) almost one week after heavy rains ⛈ sparked widespread flooding and left 14 people dead. Six months of rain fell in just 36 hours early last week, causing almost two dozen rivers to burst their banks, transforming streets into rivers and submerging huge tracts of farmland.

🔹🇮🇹 Agricultural lobby Confagricoltura said at least 10 million fruit trees will have to be uprooted, and possibly as many as 40 million. More than 600 roads remained closed on Monday, with the region estimating at the weekend that more than 620 million euros was needed to rebuild the water-logged road and transport network.

🔹Italian PM Giorgia Meloni left the G7 summit in Hiroshima 🇯🇵 a day earlier to attend to the situation in Italy. In the midst of Italy's crisis she continues to pledge military aid to Ukraine, saying "Ukraine knows it can count on Italy's all-round support". Her gov't is now considering help to train Ukrainian 🇺🇦pilots in using F16 jets. Italy has contributed about one billion euros thus far to Ukraine.

🔹Yesterday, Mount Etna, Europe’s most active volcano, 🌋 was erupting, spewing ash on Catania, eastern Sicily’s 🇮🇹 largest city, and forcing a suspension of flights at that city’s airport. The 10,925-foot-high volcano, the tallest in Europe, has been known to erupt multiple times per year, though the last major event was in 1992.

Video source - CityNews & euronews

🔹Finnish 🇫🇮 state-owned gas wholesaler Gasum has terminated a contract to buy natural gas from Gazprom Export via pipelines from Russia 🇷🇺. Gazprom ceased pipeline-based natural gas deliveries to Gasum last year May in a dispute over payments, and the two sides had been in talks to resolve the matter.

🔹Gasum said it would not fulfill Gazprom’s demand to pay for piped gas in rubles after US & EU sanctions prevented payments through normal agreements. Russian fossil gas has been piped into Finland since the 1970s, with the state-owned Gasum having been responsible for the supply.

🔹The termination concerns only pipeline supply, whereas “the long-term LNG supply contract Gasum has with Gazprom Export remains in place,”. Gasum 🇫🇮 has bought around $188 million worth of natural gas from Russia since February 2022. Gazprom supplied the company with 1.49 billion cubic meters of gas in 2021, representing two-thirds of Finland’s total consumption.

Last reported on this channel:

💠 Finland 🇫🇮 tests their newest nuclear reactor Olkiluoto 3.

💠 Finland has proposed a temporary 30% windfall tax on profits from the country's electricity 💡companies.

💠 Finland terminated a contract with Russia's 🇷🇺 Rosatom to build a nuclear facility in Finland.

💠 Gazprom cuts gas supply to Finland due to failure to pay in rubles but continues to buy Russian LNG 🚢 supplies.

🔹President E. Raeisi says Iran 🇮🇷 and Indonesia 🇮🇩 aim to increase their trade value to 20 billion dollars, stressing that both sides are resolute on promoting exchanges using national currencies. The Iranian president, is on an official visit to Indonesia at the head of a high-ranking politico-economic delegation. His visit to Southeast Asia’s biggest economy, comes in the shadow of fresh EU 🇪🇺 sanctions this week on Iran.

🔹In the presence of Raeisi 🇮🇷 and Indonesian president J. Widodo, senior officials of Iran and Indonesia signed 11 documents and agreements to strengthen cooperation in preferential trade, cancellation of visas, cultural exchanges, supervision over the pharmaceutical products, science and technology as well as oil and gas.

💠 Indonesia 🇮🇩 & Iran applies to join the BRICS group and Indonesia is interested in joining the BRICS Bank (NDB).

💠 Iran and Russia 🇷🇺 have signed an agreement on the construction of the Rasht-Astara railway, within the framework of the International North-South Transport Corridor.

💠 The Bank of Indonesia will launch its domestic card payment system to reduce dependency on foreign systems.

Video source - PressTV

🔹Russian 🇷🇺PM Mikhail Mishustin attended a high-level business forum in Shanghai, China 🇨🇳. He expects that bilateral trade between China and Russia could hit the $200 billion goal by this year and cooperation will expand beyond traditional areas.

🔹Russian farmers 🚜 and other producers are ready to further increase exports to China, while both countries are working to provide opportunities for cross-border cooperation between businesses. He will then head to Beijing, to meet President Xi Jinping and his Chinese counterpart, PM Li Qiang.

Last reported on this channel:

💠 Moscow & Beijing 🇨🇳 are developing a system of settlements to allow cross-border transactions bypassing SWIFT.

💠Gazprom 🇷🇺 move payments for gas exports to China away from USD/Euros & shift to rubles & yuan.

💠 The yuan's share of the Russian currency market has risen to as much as 45%, up from less than 1% at the start of 2022.

💠 The yuan's share of Russia’s import settlements jumped to 23% by the end of last year from only 4% in January 2022. The yuan’s share in export settlements also surged, 📈 from 0.5% to 16%.

💠 The share of trade between Russia & China in national currencies has reached roughly half of turnover (yuan- ruble).

Video source - IntelRepublic

🔹Spain's 🇪🇸 severe drought and parched soils have sent olive oil prices to levels not seen in more than a decade. Spanish extra-virgin olive oil prices have jumped 200% since 2020 to 5,870 euros per metric ton -- the highest level since 2010. Most of the price surge was recorded in the last year.

🔹Spain accounts for 40% of the world's supply, indicating prices across Europe and other regions are being pushed higher. Spain 🇪🇸 is under severe weather stress, with barely any rainfall since January. The drought ☀️is damaging crops.

🔹The global price of the oil is now almost $6,000 per metric ton, the highest since 1997, when it reached $6,225. Spain is pleading with the EU 🇪🇺 for emergency funds to help farmers, but no confirmation yet on any aid from the EU. Simultaneously, the EU gave 500 million euros of funding dedicated for EU member states to Ukraine 🇺🇦 & the Council of the EU agreed to provide 1 billion euros for the purchase of weapons to Ukraine.

🔹For about a decade, Italy’s 🇮🇹 olive trees have been under vicious attack from the bacterium Xylella fastidiosa. It has killed more than 21 million olive trees so far in the southern Puglia region, which until recently, produced 50% of the country’s olive oil.

🔹Walter Zanre, CEO of Filippo Berio UK 🇬🇧 Ltd, the biggest olive oil company in the UK with 25% of the market, said he feared UK supermarkets will suffer shortages this year. Tunisia's olive oil exporters see promising opportunities for their products in the Brazilian market.

Recently reported on this channel:

💠 Floods destroy farming operations in northeast Italy.

💠 Italy 🇮🇹 projects a drop 📉 of 37% in production of olive oil this season. Producers have warned of rising prices ever since the drought last summer.

Video source - Firstpost & CNA.

🔹 The 51st edition of the Asian Clearing Union (ACU) summit kicked off at the Central Bank of Iran's 🇮🇷 compound in Tehran with reducing dependency on the US dollar 💵 on the agenda of the participants. The regional banking bloc seeks easier clearing of payments between its member states, & have agreed to launch a system that will rival the SWIFT international payment network.

🔹 The (ACU) countries decided to have a customized system for themselves considering that SWIFT is not available to all countries and given that it has its own costs. The main objectives of the clearing union are to facilitate payments among member countries for eligible transactions, thereby economizing on the use of foreign exchange reserves and transfer costs, as well as promoting trade and banking relations among the participating countries.

🔹Currently, the members of ACU are the central banks of Iran 🇮🇷, India 🇮🇳, Bangladesh 🇧🇩, Bhutan 🇧🇹, Maldives 🇲🇻, Nepal 🇳🇵, Pakistan 🇵🇰, Sri Lanka 🇱🇰, and Myanmar🇲🇲. Four other guests from Russia 🇷🇺, Belarus 🇧🇾, Afghanistan 🇦🇫 and representatives of the Islamic Development Bank also attended the meeting.

Last reported on this channel:

💠 An official meeting of all ASEAN nations' Finance Ministers & Central Bank Governors was held to discuss reduced dependence on the US Dollar, Euro, Yen, and British Pound from financial transactions and move to settlements in local currencies.

💠 Experts tell a U.S. 🇺🇸 House Financial Service subcommittee that alternative payment systems to SWIFT pose a serious threat to US national security.

Video source- RT

🔹 "China 🇨🇳 is ready to continue interacting with Russia based on firm mutual support and taking into account each other's key interests," —China's president Xi Jinping at the meeting with Russian 🇷🇺PM Mikhail Mishustin. Today (May 24th) in Beijing, PM M. Mishustin met with premier of the State Council of China Li Qiang & president Xi Jinping. The sides signed a number of bilateral agreements, including a memorandum on expanding trade cooperation.

🔹 "China is ready to work with Russia and countries of the EAEU 🇷🇺 🇦🇲 🇰🇿 🇰🇬 🇧🇾 to promote and connect the Belt and Road Initiative with the union in order to develop and establish a bigger regional market, ensure a more stable and robust global supply chain so [we can] bring real and tangible benefits to the countries in the region," Xi was quoted as saying.

🔹 Nearly three-quarters of transactions between Moscow and Beijing are currently made in rubles or yuan. As of early May, Russia's inflation slowed to 📉 2.3% year-over-year. This is the lowest figure among all European countries.

Last reported on this channel:

💠 Russian 🇷🇺PM M. Mishustin attended a high-level business forum in Shanghai, China, yesterday to boost trade ties between both countries.

💠 Moscow & Beijing 🇨🇳 are developing a system of settlements to allow cross-border transactions bypassing SWIFT.

💠 The yuan's share of the Russian currency market has risen to as much as 45%, up from less than 1% at the start of 2022.

💠 The yuan's share of Russia’s import settlements jumped to 23% by the end of last year from only 4% in January 2022. The yuan’s share in export settlements also surged, 📈 from 0.5% to 16%.

Video source - RT

🔹Robusta coffee climbed to the highest since 2008 as forecasts for lower output in key producers threaten to tighten global supply. Production in Indonesia 🇮🇩, the third-biggest Robusta grower, is projected to fall by 20% after heavy rains hindered pollination, while the increased humidity hit bean quality.

🔹An emerging El Niño weather pattern will curb output from top supplier Vietnam 🇻🇳, bringing hotter, drier conditions later this year.The premium that higher-end arabica beans command over the Robusta variety narrowed to the lowest in four months as demand for the less costly coffee ☕️ surges. Over the last year and a half, the cost-of-living squeeze has pushed more consumers to cheaper Robusta beans versus high-quality arabica beans.

Previous coffee reports on this channel:

💠 In Colombia 🇨🇴, the world's second top arabica coffee producer, crops are drowned in too much rain. Yields are expected to decline in Guatemala, Honduras, and Nicaragua, while Vietnam 🇻🇳, the largest Robusta supplier, will also see stockpiles tumble because of poor harvest.

💠Sanctions on 🇷🇺 Russian/🇧🇾 Belarussian fertilizers affecting Brazil coffee farmers and other coffee farmers in Latin America/Africa.

💠 Kenya's 🇰🇪 2022/23 coffee production is forecast to decrease by 10%.

Video source ET Now & AFP.