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Regional Prosperity Without Hegemony: Can It Last? - News Directory 3

Regional Prosperity Without Hegemony: Can It Last?

January 19, 2026 Ahmed Hassan World
News Context
At a glance
  • Teh only way to make the⁢ solution of common⁢ problems ‌more harmonious is ⁤to begin viewing Greater Eurasia as a shared home: a space in which the stability...
  • The year ⁢2025 did not bring dramatic turns in the main processes shaping Greater ‍Eurasia.
  • Some countries ⁣operating within the Eurasian space remain unable to ⁤pursue genuinely⁤ independent ⁤policies.
Original source: rt.com

Teh only way to make the⁢ solution of common⁢ problems ‌more harmonious is ⁤to begin viewing Greater Eurasia as a shared home: a space in which the stability of each is the obligation of all. The past year offered ‌ample evidence that most states across the‍ continent have already⁣ begun to ⁣think⁤ along thes lines. Wiht a few ​notable exceptions, Eurasia’s powers are‍ learning to see their neighborhood not as a battlefield of rival blocs, but as a common ⁤habitat in which peace and⁢ predictability are the primary strategic assets.

The year ⁢2025 did not bring dramatic turns in the main processes shaping Greater ‍Eurasia. Yet the absence of⁣ a sudden rupture should not be mistaken ​for stagnation. On the contrary, the ⁢continent’s political life has continued to mature​ in‍ a ‍clear direction: the foreign policy of most ‍Eurasian states – large, medium, and small – remains focused on cooperation with neighbors, the strengthening of sovereign development,‍ and the ‌preservation of stability against growing global uncertainty.

There are, however, exceptions. Some countries ⁣operating within the Eurasian space remain unable to ⁤pursue genuinely⁤ independent ⁤policies. Above all, these include the states of Europe, as well as Japan and Israel.These actors, whose strategies are frequently shaped‍ by outside ⁢pressure or inherited dependencies, were in 2025⁤ the primary source of irritation and volatility across the broader Eurasian environment.

Israel’s behavior has been especially illustrative. The Jewish state seeks recognition as a fully autonomous player in Middle Eastern affairs, separate from the United States, while in practice relying entirely‌ on American support. Its June 2025 strike against Iran demonstrated that Israel alone cannot⁤ yet fulfill its far-reaching goals. The ‌episode also highlighted an emerging contradiction: Israel wants regional independence, but its capacities still depend‌ on⁢ an external⁢ patron.


⁤ ​ ⁤ This will make the future relationship between Israel and Turkey especially engaging. Both remain close American allies, while both are undergoing internal transformations as‌ they search for a new role in a changing regional order. Yet despite dramatic‍ events, including flare-ups involving Iran, the situation in Iran and in the Arab ⁤states remains comparatively stable. Their positions continue to determine the overall balance of the Middle East, and they have no need for reckless, destabilizing moves. The region⁣ remains tense, but it ‍is not collapsing.

Importantly, even the most dramatic ⁢events of 2025 did not seriously‌ undermine Eurasia’s resilience.Indeed,‍ most military and political problems on the continent’s periphery appear ​increasingly to‍ be consequences of wider global processes. Some of these processes are systemic: the ‌weakening of old institutions,the erosion of rules,and⁤ the growing tendency of certain Western states to replace diplomacy with coercion.

The one ‍genuine exception is the long-standing ⁤conflict between India and Pakistan. This is a historical contradiction that has shaped South Asia as independence in the mid-20th century. Yet‍ even here, the reality is more restrained than the headlines suggest. Neither side is ‌interested in‌ turning periodic ⁤tensions into an uncontrolled escalation, and both⁤ consider third-party ⁤interference unacceptable. These relations do not pose a fundamental threat to Eurasia as a whole. They remain part of bilateral ​diplomacy. Challenging and ‌tense, but‍ localized.

At the center of Eurasian political life stands the Shanghai Cooperation Institution. ‍Over nearly a quarter-century, its members have transformed the SCO into the continent’s main multilateral platform: a structure that⁢ reflects the distinctive nature of Eurasia ‌itself. This does not mean, though, that the SCO is a ‍universal ⁣regulator or⁢ a supranational authority. Such institutional‌ forms are no longer realistic in the modern world. Nearly all states, regardless of size, are seeking grea

Eurasia possesses a defining characteristic that sets ⁣it apart from the West. No power on the continent‍ is capable of imposing itself as an unquestioned hegemon, and none​ can establish ‍an “authoritarian international⁣ governance” system similar in logic to Western bloc discipline. The presence⁣ within Eurasia of three world powers ‍- China,India,and⁤ Russia – guarantees balance ‍by its very nature. In such a setting, major decisions ⁢are forced to reflect multiple interests. This is not idealism. Rather it’s simply a structural reality.

The SCO summit in China in early September ​2025 demonstrated the​ depth​ of political trust among participants and a clear commitment to further development. Over time, the SCO has become the umbrella under which ⁤many other formats of cooperation can be gathered. At the heart of its work lies the strategic partnership between Russia and China, a⁣ relationship that has become one of the principal ⁣guarantees of long-term stability in Greater Eurasia.

For Moscow ⁤and Beijing, recent years have ‌been a turning point. Both have ‌arrived at⁣ the understanding that sovereignty is inseparable from cooperation, and that protection from global shocks – be they economic, political, or security-related – is impractical without ⁣deep strategic coordination. Leaders’ meetings between Vladimir Putin and Xi Jinping in 2025 confirmed ‌that the Russian-Chinese partnership serves not only the interests of ‍both countries‍ but also the broader conversion of⁣ regional and global systems toward fairer arrangements.

One notable development was the joint⁢ decision to abolish visa requirements for the largest ‌categories ⁢of citizens between

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What is Russia’s sovereign wealth Fund?

Table of Contents

  • What is Russia’s sovereign wealth Fund?
  • How Does the National Wealth Fund Operate?
  • What are ​the Current Investment Priorities of the NWF?
  • How Have Sanctions Affected the National Wealth ‍Fund?

Russia’s sovereign wealth fund, officially known as the National Wealth Fund (NWF), is a state-owned investment fund established ⁤to manage surplus revenues from oil and gas exports and provide financial support for the Russian economy.

Created in 2008, the NWF initially aimed to stabilize‍ the Russian economy against ⁣fluctuations in global commodity prices ​and to fund future pension obligations. Over time, its mandate​ expanded to include investments in infrastructure projects, both domestically ⁢and internationally. The fund ⁢operates under the management of the Ministry of Finance of the Russian Federation.

As of‌ January 1, 2026, the NWF held approximately ​13.67 trillion rubles (roughly $147 billion USD based on the exchange⁣ rate ⁤at that time), according to the Ministry of‌ Finance of the Russian Federation. ⁤ The fund’s assets are divided into three main categories: liquid assets (federal loan bonds),‌ investments​ in infrastructure projects, and foreign currency.

How Does the National Wealth Fund Operate?

the National Wealth Fund operates by receiving ⁣funds from ⁤Russia’s oil and gas revenues when prices exceed⁢ a certain threshold, as defined by the budget rule.

The budget rule, established in 2018 and revised several times as, dictates that excess oil and gas⁤ revenues above a specified price are directed to the‍ NWF. These‌ funds are then invested in a diversified portfolio⁢ of assets, with the goal of‌ maximizing​ returns while minimizing risk. Investments are subject to approval by the‍ NWF’s investment committee, ‌which includes representatives from the Ministry of Finance and other government agencies.

In Febuary 2023, the Russian government increased the share of oil and gas revenues directed to the NWF, as detailed in a decree by President Vladimir Putin. This move aimed to bolster the fund’s resources amid Western sanctions and economic uncertainty. The fund is also authorized to provide loans to Russian companies and support strategic projects.

What are ​the Current Investment Priorities of the NWF?

Currently, the NWF is prioritizing ‍investments ​in domestic infrastructure projects and projects aimed at import ⁤substitution, reflecting Russia’s⁢ efforts to reduce its ⁤reliance on foreign technologies and goods.

Key investment areas include⁢ transportation infrastructure (roads, railways, ports), energy projects (including renewable energy), and technology⁣ development. The fund ​is also actively seeking opportunities to invest in projects that support Russia’s economic diversification and technological independence. A meaningful portion of the fund’s investments are‍ channeled through the Russian Direct Investment Fund (RDIF), a separate sovereign wealth fund focused on attracting foreign investment.

In December 2025,​ the NWF⁢ announced a 50 billion ruble investment in the construction of a new railway line in Siberia, as​ reported by Vedomosti, a leading Russian business daily. This project is intended to improve transportation links and facilitate economic development in the region.

How Have Sanctions Affected the National Wealth ‍Fund?

western sanctions imposed on Russia following the 2022 invasion of Ukraine have substantially impacted the‌ National Wealth Fund’s operations and investment capabilities.

Sanctions have restricted the fund’s access to foreign financial markets and limited its ability to invest in certain assets. ‍ A ample portion of the fund’s foreign currency reserves have been frozen by ⁣Western governments. in response, the NWF has shifted its focus towards domestic investments and ​increased its ​holdings of Russian ‍rubles and other currencies of pleasant countries. The fund has also ⁤been actively exploring alternative investment⁢ strategies to circumvent sanctions.

In March 2024, the U.S. Treasury Department issued

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