1. Home
  2. News
  3. Economy
  4. The Suez Canal may start charging passage fees in BRICS currencies, a step towards "de—dollarization" of trade

The Suez Canal may start charging passage fees in BRICS currencies, a step towards "de—dollarization" of trade

Economy
833 01.12
The Suez Canal may start charging passage fees in BRICS currencies, a step towards "de—dollarization" of trade
Most Popular
07.02
Sales on the WB dropped after the holidays: how to return positions without draining the betting budget
06.02
Starting from July 1, cargo from the EAEU will not travel without a QR code: lawyers advise to fix the code in the contract as a condition of departure
06.02
How to legally change the payer or recipient and not get stuck on bank compliance
06.02
Marketplaces can "assign" tariffs: the point of no return is control of a third of the transportation market
06.02
Wildberries is preparing a pilot in Ethiopia and is eyeing India: why does the marketplace need a "far abroad"
06.02
The border with China will open in February: the Federal Customs Service announced the dates of the closure of checkpoints for the Lunar New Year
Egypt is considering changing the currency of payments for passage through the Suez Canal: instead of the dollar, payments will be made in the national currencies of the BRICS countries. This could be an important step towards "de-dollarization" of global maritime trade and strengthen the country's position as an international logistics hub.

A large-scale decision: the Suez Canal administration is considering the possibility of switching to paying for the passage of ships not in US dollars, as has been customary for decades, but in the national currencies of the BRICS countries. This could be an important step towards "de-dollarization" of global shipping routes. RIA News

According to the head of the canal's administration, Osama Rabia, the authorities have already sent a request to the Central Bank of Egypt for permission to change the settlement scheme. RIA Novosti If the appropriate approval is received, transit fees may be charged in rubles, yuan, rupees, rand, real, lira — depending on the currency of the BRICS member country. Such a measure will give the alliance countries the opportunity to save on conversion, reduce foreign exchange costs and strengthen financial sovereignty.

Suez is a key maritime artery through which about 10-12% of the world's maritime cargo turnover passes. For Egypt, transit through the canal traditionally brings billions of dollars to the budget. A shift towards national currencies could affect global supply chains, especially for countries actively trading within the BRICS. RIA News

Trading companies and shipping companies have already responded to the initiative with interest. Converting payments into national currencies can facilitate budget planning for importers and exporters, as well as speed up financial transactions. Nevertheless, experts warn of possible difficulties: currency volatility, the need for coordination with client countries and the adaptation of accounting systems to new settlement schemes.

If the experiment with BRICS currencies succeeds, it may give an impetus to expand the practice of abandoning the dollar and increase the importance of regional monetary unions. Egypt, in turn, can strengthen its position as an independent logistics hub, ready to work on the terms of multilateral settlements.

Suez Canal BRICS
833 total views
103
Share:
News on the topic
Sales on the WB dropped after the holidays: how to return positions without draining the betting budget
Sales on the WB dropped after the holidays: how to return positions without draining the betting budget
1,627 07.02
After the New Year holidays, sales on Wildberries sank for the majority, but each card has its own depth of decline: price, balances, seasonality and how buyers passed the funnel during a period of low demand decide. The mistake of many is to try to “buy off” positions with bids. In fact, WB evaluates the card by stages: impression, click, shopping cart, order — and compares it with competitors within the query cluster. We're looking at how to diagnose the drop point and restore sales without dr
Marketplaces
Starting from July 1, cargo from the EAEU will not travel without a QR code: lawyers advise to fix the code in the contract as a condition of departure
Starting from July 1, cargo from the EAEU will not travel without a QR code: lawyers advise to fix the code in the contract as a condition of departure
652 06.02
Starting from July 1, 2026, trucks from the EAEU countries risk stopping at the border without a valid QR code: the pilot SPOT starts on April 1, and then the system will link access to a preliminary document from the Federal Tax Service and, in the second half of the year, to reserving the amount for VAT and excise taxes. Lawyers advise changing contracts now: a valid QR code should be a condition for departure for loading, otherwise a simple one due to customer errors will fall on the carrier.
Customs and International Trade
How to legally change the payer or recipient and not get stuck on bank compliance
How to legally change the payer or recipient and not get stuck on bank compliance
113 06.02
Assignment and debt transfer are not a "gray life hack", but a tool for managed adjustment of calculations. But in 2026, the main risk is not the legal structure itself, but how the bank sees it. Therefore, the task of the Foreign economic activity director today sounds simple.: first, the compliance architecture and documents, then the signatures.
Customs and International Trade
Marketplaces can "assign" tariffs: the point of no return is control of a third of the transportation market
Marketplaces can "assign" tariffs: the point of no return is control of a third of the transportation market
812 06.02
The trucking market may enter a phase where tariffs will not be "stacked", but assigned according to a formula by the largest ecosystems. According to the Institute for Transport Development, the point of no return will come when retailers and marketplaces begin to control about a third of transportation: warehouses, data, LTL networks and their own fleets will give them leverage over rates for the entire market.
Marketplaces
Related articles
Why cargo may be delayed between the BRICS countries and how to avoid it
Why cargo may be delayed between the BRICS countries and how to avoid it
199 13.01
Shipping cargo from China to Russia is just the beginning. The real quest is to get it on time and without losses. Why can't Chinese banks skip your payment? What should I do if the customs decided to open each box in the rain? And why doesn't even insurance always save you from losses? This article examines the real, rather than theoretical, reasons why supply disruptions have become the norm, and what can be done about it in practice.
Cargo transportation
How to open a representative office of a logistics company in China
How to open a representative office of a logistics company in China
1,921 24.12
Do you want to open a branch in China? Before investing money, figure out the main thing: do you need intelligence or a full-fledged business? This article provides an honest analysis of the real bureaucracy, deadlines and costs of opening a representative office in China. Only practical experience that will help you avoid very expensive mistakes.
Logistics, cargo
Educational exchanges as the foundation of business interaction
Educational exchanges as the foundation of business interaction
812 23.12
The new year 2026 has been declared the year of education for the Russian Federation and China. Vladimir Putin and Xi Jinping have agreed to hold cross-years of education in 2026-2027. Russia and China have long been developing relations in energy, trade, innovation, and culture; now the focus is shifting to education.
EDI and IT in Logistics
Bulk carrier: What kind of ship is this and why would the global economy stop without it?
Bulk carrier: What kind of ship is this and why would the global economy stop without it?
1,693 06.11
The logic of container shipping does not work when it comes to industrial shipments of raw materials. How to transport 50,000 tons of grain? There is a separate world for this — bulk carrier transportation. In this article, we look at how this market works in practice: from the types of ships and the formation of freight rates to the key players. We explain why direct access to a shipowner is a key element of cost and risk management in large—scale logistics.
Cargo transportation
Currently reading
Ozon launches logistics service for online stores without commission for sale
2,460 11.10
Trans-Pacific rates remain in place: plans to raise are in question
1,024 13.09
Russia accelerates Chennai–Vladivostok corridor: a bet on trade and logistics with the South of India
748 28.01
Mining plus: which equipment pays off the fastest in 2025
3,178 02.09
USN and VAT from 2026: how 0% on international transportation changes calculations
1,150 09.01
New paths and old challenges: how has express delivery from China to Russia changed?
2,129 02.09
Is it worth entering marketplaces in 2025: pros, risks, and key issues
1,389 26.10
Wildberries has launched the first stage of a logistics center in Vladivostok
648 13.09
Wildberries will launch support for the light industry: shoe manufacturers will have lower fees and storage costs as early as February
1,231 31.01
Ozon sellers demand to change the refund rules without their consent
1,592 09.01