The Russian Federation and the Bolivarian Republic signed an agreement on strategic partnership and cooperation. In the document, published on the Kremlin website, Russia supports Venezuela in its intention to join the BRICS.

“Russia positively assesses the intention of the Bolivarian Republic of Venezuela to join as a full member and closely cooperate in the BRICS association,” the document stated.

Referring to the joint work between both nations to create a financial alternative that allows for trade without the dollar, Venezuelan Foreign Minister Yván Gil stated: “Venezuela, within the BRICS framework, is aligned with the creation of systems that do not use the dollar as a negotiating currency, driven by the United States government’s abuse of its dominant position in global trade with the dollar to implement sanctions. We, who have been victims of sanctions, and Russia, which has been a victim of sanctions, are very clear that a solution to sanctions is the creation of an alternative system, and both countries are working on that.”

According to the diplomat, the arrival of a new financial architecture for trade is imminent. He believes that “trading without the dollar is already a palpable reality; it is very close to being definitively realized, and both presidents addressed this issue.”

M.Pino

Source: Jornada

(Reference image: Dmitry Ant on Unsplash)

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Google’s subsidiary in Russia plans to file for bankruptcy and abandon its operations in that country after the authorities have seized its bank account and record a loss of approximately 409 million dollars in 2021.

 In a message published by the official Russian registry Fedresurs, it states that “since March 22, 2022, the company foresees its own bankruptcy and inability to meet its monetary obligations.”

The Kremlin’s rebuke of the US tech giant comes after several months of pressure to remove content deemed illegal by Moscow. The company through a spokesman confirmed its situation.

“The seizure of the Google Russia bank account by the Russian authorities has made the operation of our office in Russia, including hiring and paying employees, paying vendors and vendors, and complying with other regulations, unsustainable financial obligations”.

Coercion of technology companies

The embargo of the multinational account in Russia is a strong blow because it makes it impossible to carry out financial transactions and administrative processes, although the authorities do not block access to Google.

The company also indicated that the pressure has increased since YouTube, a company of the same group, decided to “block access to some Russian state-affiliated media, such as the RT channel or the Sputnik agency, as well as prohibit their monetization through advertising.”

The real cause for which the company will declare bankruptcy is currently unknown. If it will be due to insolvency as a result of “the millionaire fines imposed by Moscow for not abiding by its restrictive digital censorship laws or due to open complaints at the request of Russian media.”

The company clarified that despite the closure of the office and its operations on Russian soil, the free services of Gmail, Google Play or YouTube will remain active.

M. Rodríguez

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Source: elperiodico.com

La entrada Google Russia to file for bankruptcy after Kremlin blockade apareció primero en Bitfinance.

Russian authorities reported that the government is creating “mechanisms” to circumvent the sanctions imposed by the European Union as a result of the Russian invasion of Ukraine.

The head of the Department of Economic Cooperation of the Ministry of Foreign Affairs, Dmitri Birichevski, indicated that “retaliation and legal mechanisms are being actively developed to stop the illegitimately imposed restrictions.”

Birichevsky also said in a radio interview that Moscow reserves the “right to tighten special measures in case tensions in the area increase.”

“When preparing the response measures, unlike many Western partners, we aspire not to damage our own economy,” he said before criticizing the measures taken by Brussels, which according to the Kremlin will take their toll on the citizens of the countries of the block.

On the other hand, Birichevski assured that Russia will not discriminate against companies based on their origin, even if they come from “hostile countries”. “We are open to continue a constructive dialogue with partners from so-called hostile countries.”

Source: dpa

La entrada Russia seeks ways to avoid EU sanctions apareció primero en Bitfinance.