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Deputy Chairman of the State Duma Alexander Babakov proposed creating a unified BRICS exchange using blockchain and virtual currency for inter-bloc settlements. Babakov stated that such an organization “will be…
Russian President Vladimir Putin marked the 75th anniversary of the People’s Republic of China by praising the solid partnership between Russia and China. He emphasized the resilience of their economic…
Russian President Vladimir Putin has revealed plans for an independent payment system in collaboration with BRICS nations to secure foreign trade transactions. This move reflects a strategic shift aimed at…
BRICS nations are considering adopting the petroyuan for oil trade as part of their ongoing dedollarization efforts, according to economic expert Herbert Poenisch. He noted the BRICS group may discuss…
North Korea may be ramping up efforts to align itself with the BRICS economic bloc, as its top diplomat skipped the United Nations General Assembly in favor of a BRICS-related…
Russia is pushing to develop independent interbank networks and payment systems within BRICS to boost the bloc’s financial influence. Moscow aims to expand cross-border settlements and the use of national…
Russian Foreign Minister Sergey Lavrov announced that a report on alternative payment systems for BRICS nations will be presented at an upcoming summit in Kazan. The proposal, led by Brazilian…
Russian Foreign Minister Sergey Lavrov has backed former U.S. President Donald Trump’s remarks about the negative effects of U.S. sanctions on the dollar and the American economy. Lavrov agreed that…
The BRICS bloc might have already overcome its dollar-dependence problem, as the volume of settlements in the national currencies of its member nations has already surpassed the USD-based exchanges. Using…
Elvira Nabiullina, head of Russia’s central bank, has highlighted challenges in cross-border settlements, including payment issues and falling trade volumes. She emphasized the importance of finding new solutions, such as…