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The Shanghai Cooperation Organization (SCO) is advancing talks on a unified payment system to increase national currency use, aligning with BRICS efforts to counter Western economic dominance. A New Era?…
Brazil pushes for a shift away from the U.S. dollar within the BRICS alliance, advocating for more use of national currencies in trade among member countries. As the group expands,…
BRICS nations are increasingly using national currencies, with 65% of transactions now conducted in local currencies, according to a Russian finance official. The U.S. dollar and euro account for less…
Russian presidential aide Yury Ushakov announced new BRICS initiatives to increase the use of national currencies in trade, backed by financial infrastructure developments like a BRICS-wide platform and special clearing…
Russia’s Deputy Foreign Minister has stated that discussions on a single currency for the BRICS economic bloc are premature due to differences in financial regulation among member nations. Instead, the…
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…
Payments in national currencies among Shanghai Cooperation Organization (SCO) members have reportedly increased from 40% in 2022 to 92%, signaling a move away from reliance on the U.S. dollar. Similar…
Anton Siluanov, the Russian Finance Minister, pointed out that a majority of the bilateral trade with China is being conducted outside the U.S. dollar system. He stressed that over 90%…
Valentina Matvienko, Chairman of the Russian Federation Council, talked about the role of national digital currencies, also known as CBDCs, in increasing the use of national currencies in BRICS trade.…
Russian President Vladimir Putin highlights economic integration and dedollarization at the Shanghai Cooperation Organisation (SCO) Heads of State Council meeting, chaired by Indian Prime Minister Narendra Modi. “We are making…