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The US imposed sanctions on Russia in February 2022, limiting its imports and exports to cripple its economy. Despite the US sanctions, BRICS members have been relentlessly buying crude oil from Russia worth billions of dollars. India has saved nearly $7 billion in foreign exchange rates alone while procuring Russian oil at discounted prices. The move from the White House has mostly backfired, and Trump took notice of the development. Also Read: BRICS 2025: What the Summit Really Achieved Behind Closed Doors Trump slapped 25% tariffs on India and added a penalty for buying Russian oil despite sanctions. The US President also threatened BRICS members India and Brazil to stop procuring Russian oil or face further tariffs. Even after the threats, India and Brazil continue to buy oil from Russia to help boost their respective economies. It is also a challenge to Trump’s unruly threats, where they don’t want to be seen as bowing under pressure. Buying Oil From Russia is Legal, Sa...

De-dollarization is the most spoken word in the global markets as emerging economies want to cut ties with the US dollar. The world is looking to strengthen local currencies and dim the lights on the USD as the White House is accused of weaponizing the currency. From sanctions to tariffs, developing countries are bearing the brunt of the US policies that only harm their native economies. Also Read: De-Dollarization: J.P.Morgan Predicts the US Dollar’s Future in 2025 The US dollar’s global reserve currency status is now under question as developing countries aim to topple the USD’s dominance. The paradigm shift against America grew after the White House imposed sanctions on Russia in 2022. The sanctions were also extended to Iran and Belarus, among other countries, and in return strengthened the de-dollarization agenda. Also Read: Alphabet (GOOGL) Stock Slides Following UK Lawsuit Rabobank: De-Dollarization Trend Is Here To Stay & Will Continue Source: iStock Rabobank’s...

The US election caused major shifts in financial markets on Wednesday. Donald Trump’s win pushed Bitcoin to $75,255, a new record high. Stocks and other cryptocurrencies also rose sharply. Trump’s support for crypto and pledge to make the US a “Bitcoin superpower” led to a 10% rise in digital assets. “Crypto investors had been eagerly awaiting the presidential election for months, convinced that a victory for the former President Donald Trump would be good for Bitcoin and other digital assets.” Source: Reuters Also Read: Donald Trump Wins 2024 Presidential Election How Trump’s Victory Impacts Stocks, Crypto, and Market Dynamic Stock Markets Rally on Election Results Stock futures moved up strongly. The S&P 500 rose 1.1%, and the Dow Jones gained 1.3%. Bond yields also increased, with 10-year Treasury rates climbing to 4.4% from 4.28%. “The markets are scrambling to figure out what happens next, but for the time being, the market is ...