BRICS

💱 SCO@25: Putin Calls for Greater Financial Independence As the Shanghai Cooperation Organization marks 25 years, Russia is pushing for institutions capable of supporting deeper economic cooperation outside vulnerable financial dependencies. At the SCO summit in Bishkek, Russian President Vladimir Putin said the proposed SCO Development Bank should be as independent as possible from financial systems that can be used as instruments of unilateral pressure. Putin also highlighted the SCO’s growing economic weight: Russia’s trade with SCO countries exceeded $400 billion in 2025, while more than 98% of Russia’s mutual settlements with SCO members are now conducted in national currencies, according to his remarks. He described the SCO as an increasingly influential centre of the emerging multipolar world, with cooperation expanding across economic, political, energy and humanitarian spheres. At 25, the SCO’s evolution is increasingly about more than regional security—it is also about building the institutions, financial mechanisms and economic connectivity of a changing Eurasian order. Source: TASS, reporting remarks by Russian President Vladimir Putin at the SCO Summit | September 1, 2026

💱 SCO@25: $400 Billion in Trade—and 98% in National Currencies Putin highlights the growing economic weight of the Shanghai Cooperation Organization and the accelerating shift toward local-currency settlement. At the SCO’s 25th anniversary summit in Bishkek, Russian President Vladimir Putin said Russia’s trade with SCO countries exceeded $400 billion in 2025. He added that more than 98% of Russia’s settlements with SCO members are now conducted in national currencies. The figures underline an increasingly important dimension of the SCO’s evolution: beyond security and political dialogue, it is becoming a platform for deeper economic integration and financial cooperation across Eurasia. Source: Russian Foreign Ministry | September 1, 2026

🌏 SCO at 25: From Regional Forum to Institution of a Multipolar Order Twenty-five years after its founding, the Shanghai Cooperation Organization has evolved into a major platform for Eurasian coordination—and an increasingly important voice in the debate over global governance. At the SCO’s 25th anniversary summit in Bishkek, Chinese President Xi Jinping called for all countries, regardless of size, strength or wealth, to have equal rights, opportunities and rules, while urging greater representation for the Global South in international affairs. The significance of the SCO lies not simply in its size, but in its institutional evolution: bringing together major Eurasian powers and developing economies around security, connectivity, economic cooperation and a more representative international order. At 25, the SCO is increasingly part of the institutional architecture of the emerging multipolar world. Source: Sputnik International | September 1, 2026

🇹🇭 Thailand to Halve Visa-Free Stay to 30 Days New rules take effect September 15 as Thailand tightens its visa-free entry policy. Thailand’s decision to reduce the visa-free stay for eligible foreign visitors from 60 days to 30 days will take effect on September 15, 2026, according to the Royal Gazette, as reported by TASS. The change will affect how international travellers plan longer stays in Thailand, with implications for tourism, business travel and regional mobility. Source: TASS, citing Thailand’s Royal Gazette | August 31, 2026 ·

Pezeshkian: UN and Security Council Performance Has Been “Deeply Disappointing” 🇮🇷 Speaking at the SCO Summit in Bishkek, Iranian President Masoud Pezeshkian criticised the performance of the United Nations and UN Security Council, saying they have failed to adequately address major global challenges. He pointed to military aggression, terrorism and the conflicts affecting Gaza, Lebanon and Iran, arguing that the international system has struggled to respond effectively. His remarks come as the SCO debates a broader role for emerging institutions and the future of a more representative multilateral order. Source: RT International | September 1, 2026

🇮🇳 RBI Appoints Suman Ray as Executive Director A veteran central banker takes charge as the Reserve Bank of India strengthens its senior leadership. The Reserve Bank of India (RBI) has appointed Shri Suman Ray as Executive Director, effective September 1, 2026. Ray previously served as RBI’s Regional Director in Maharashtra and has more than three decades of experience across currency management, financial inclusion, payment and settlement systems, consumer education and protection, and human resources. As Executive Director, he will oversee the Deposit Insurance and Credit Guarantee Corporation (DICGC) and the Premises Department. Source: Reserve Bank of India (RBI) | September 1, 2026

🇮🇳 India’s Payments System Is 10. Now It Must Start Paying for Itself. UPI processes around 24 billion transactions a month — but infrastructure at that scale does not come cheap. Ten years after its launch, Unified Payments Interface (UPI) has become almost invisible in its ubiquity: from roadside vendors and rickshaws to utility bills and major online retailers. The Economist argues that India now faces a different question: how does the world’s most extensive instant-payments system sustain itself financially as its scale continues to grow? From transforming how Indians pay to confronting the economics of maintaining that transformation, UPI’s next decade may be as important as its first. Source: The Economist | August 30, 2026

🇷🇺🇰🇿 Putin: Russia–Kazakhstan Relations Continue to Deepen Trade and economic cooperation remain central to a rapidly developing bilateral partnership. President Vladimir Putin told Kazakhstan’s President Kassym-Jomart Tokayev that bilateral relations are developing dynamically across virtually all areas, with trade showing solid figures and continuing to grow in 2026. The exchange highlights the depth of economic ties between two closely connected Eurasian economies and members of the broader regional cooperation architecture. Source: Ministry of Foreign Affairs of Russia | September 1, 2026

🌏 Erdogan: SCO Has Become an Indispensable Element of the Multipolar Order Twenty-five years after its founding, the Shanghai Cooperation Organization is increasingly positioned as a platform connecting Eurasia, the Asia-Pacific and the Middle East. Turkish President Recep Tayyip Erdoğan said the SCO, representing approximately 3.5 billion people and a $35 trillion economy, has become an “indispensable” element of the emerging multipolar order. He described the organization as a platform bringing together the Asia-Pacific and the Middle East, while arguing that the SCO can support and complement the work of the United Nations. The remarks came at the SCO Summit in Bishkek, marking 25 years since the organization’s establishment. Source: Recep Tayyip Erdoğan, President of Türkiye | SCO Summit, Bishkek | September 1, 2026