New world order? Shanghai Cooperation Organisation unleashes seismic geopolitical shifts

This weekend, with little mainstream news coverage, some of the most consequential agreements in decades have been made at the 22nd Shanghai Cooperation Organisation (SCO) Heads of State Summit in Uzbekistan.

Invited as a special guest, Türkiye’s President, Recep Tayyip Erdoğan, announced a bold move. He told reporters in a press conference following meetings at the Summit that it was the country’s intention to join the SCO, while also maintaining its NATO membership.

He went on the share the following on social media:

“It was a pleasure to meet with our friends at the 22nd Shanghai Cooperation Organisation Heads of State Summit. We are confident that, through our joint efforts, we will significantly enhance our cooperation with the Organisation.”

The Shanghai Cooperation Organisation is widely seen as the key opposing cooperative to NATO, and member country’s have conducted joint military operations in the past. However its official focus is said to be on trade, economic, diplomatic, political, cultural and humanitarian cooperation.

Its current member states include China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan, India and Pakistan.

Should Türkiye enter the alliance, it will join Iran and Belarus who are also poised to become member states of the SCO in the coming years.

Meanwhile… Shanghai Cooperation Organisation affirms USD sidestep

The Summit also saw the Heads of State in attendance (including Xi Jinpin and Vladimir Putin) agree on a gradual increase in the use of member states’ national currencies when conducting trade.

With Iran (one of the world’s biggest oil producers) on the verge of joining the alliance, along with Türkiye and Belarus (a major Fertiliser producer) the currency agreement could be a seismic shift in the way global trade is conducted.

Amidst the Summit, it became clear the Heads of State were moving fast, as Vladimir Putin announced Russian gas supplies to Türkiye would be paid in Russian ruble and Turkish lira, effective immediately.

“We are ready to significantly increase supplies to Turkey in all directions that are of interest. Our agreement on natural gas supplies of Russian origin to Turkey with the payment of 25% of these supplies in Russian rubles will start working in the nearest future,” said Putin on Russian state media on Friday.

It follows a similar move earlier this month, when China agreed to pay Russian energy giant Gazprom in Russian roubles and Chinese yuan, instead of US dollars.

Multipolarity is well and truly upon us. Fasten your seatbelt.