On February 10, Russian Ambassador to Brazil Alexey Labetsky informed that the prospect of building an independent payment system within the framework of the BRICS group of leading emerging economies, capable of withstanding sanctions, is very feasible.
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| The prospect of building a BRICS payment system is feasible. (Source: Nasdaq) |
Mr. Labetsky said that the parties have repeatedly discussed the prospects of creating a BRICS payment system and this plan is extremely realistic.
However, according to the Russian Ambassador to Brazil: "It is important that the group is not talking about replacing the US dollar in all payment transactions, but about creating a new alternative circulation circuit for the BRICS financial structure.
This is particularly important in the context of increasing pressure from illegal sanctions and changes in global commodity and investment markets."
The Russian diplomat expressed confidence that the creation of such a system is a key factor in strengthening the autonomy of BRICS and enhancing its role in the international monetary and financial system.
Recently, US President Donald Trump warned BRICS member countries not to replace the USD as the reserve currency, and repeated the threat of imposing a 100% tax on the group if this happened.
In a post on the social media platform Truth Social, Mr Trump wrote: "We will ask the BRICS nations to commit to not creating a new BRICS currency, nor supporting any other currency to replace the mighty US dollar, or they will face 100% tariffs."
Source: https://baoquocte.vn/dai-su-nga-phu-nhan-viec-thay-the-dong-usd-revealed-a-do-licensed-payment-system-kha-thi-cua-brics-303877.html
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