Association For Strategic Culture and Research Foundation

This year marks the 65th anniversary of the start of diplomatic relations between China and African countries. Over the past 65 years, China and Africa have forged unbreakable fraternity in our struggle against imperialism and colonialism, and embarked on a distinct path of cooperation in our journey toward development and revitalization. Together, we have written a splendid chapter of mutual assistance amidst complex changes, and set a shining example for building a new type of international relations.

The financing needs to achieve the Sustainable Development Goals (SDGs) estimated at $2.5trillion for developing countries, was substantial even before the COVID-19 pandemic. The pandemic has exacerbated the financing challenges. According to the 2021 OECD Global Outlook, the annual SDG financing gap in developing countries is estimated to have increased by $1.7 trillion, or roughly 70%, in 2020

In short, the financial war on Russia gave the West an unmistakable lesson from Moscow that the hardest currencies are not USD or EUR, but rather oil, gas, wheat, and gold. Yes, energy, food and strategic resources are currencies.

Let's analyze the counter-sanctions levers that Russia has at its disposal.