Yuan Clearing Bank Opens in Moscow as Russia, China Dump Dollar in Bilateral Trade

Yuan Clearing Bank Opens in Moscow as Russia, China Dump Dollar in Bilateral Trade

Moscow and Beijing took another step towards de-dollarization with the announcement of the opening of a renminbi clearing bank in Russia on Wednesday. Local currency transactions were first used in both countries’ border regions. Today, more and more Chinese and Russian financial institutes and enterprises are using local currencies to invest and settle accounts, as the yuan-ruble trade platform is…

Keeping the Myth and the Islamic State Alive

Keeping the Myth and the Islamic State Alive

Joint Syrian-Russian-Iranian operations against foreign-funded and armed militant groups across Syrian territory have incrementally dismantled and frustrated the fighting capacity of groups including the so-called Islamic State, Al Nusra, Al Qaeda, and a myriad of other fronts coordinated and arrayed from abroad against Damascus. With the Russian intervention in late 2015, considerable air power was…

Donald Trump will Make His Own Mistakes in the Middle East

Donald Trump will Make His Own Mistakes in the Middle East

It is no secret that the new American administration did not inherit the best situation in the Middle East. The policies of ex-President Obama were confusing and inconsistent. The declared goals and means used in their realisation were badly correlated between them. Attempts to transform Iran the enemy into a partner did not bring Washington…

American Anniversaries from Hell: What You Don’t Know Can Hurt You

American Anniversaries from Hell: What You Don’t Know Can Hurt You

It’s true that, last week, few in Congress cared to discuss, no less memorialize, the 10th anniversary of the invasion of Iraq. Nonetheless, two anniversaries of American disasters and crimes abroad — the “mission accomplished” debacle of 2003 and the 45th anniversary of the My Lai massacre — were at least noted in passing in our world. In my hometown…