2023-01-26 14:00 BRICS Finance

Own currency BRICS

At the BRICS summit, which will take place in August 2023, the organization will discuss the creation of its own currency BRICS. Such a statement made to reporters on Wednesday the Foreign Minister of the Russian Federation Sergey Lavrov.

He mentioned that such states “see the inconsistency of the owners of the current international currency and financial system,” therefore “they want to create their own mechanisms” in order to “ensure sustainable development, which will be protected from dictatorship from the outside”. He was also noted earlier that "serious, self -respecting countries are well aware of what is put on the map."

Russian President Vladimir Putin also previously stated that the BRICS countries are preparing to create a new international currency. According to Sergei Lavrov, “one cannot rely on the financial mechanisms of the West, which is ready to deceive at any moment for the sake of a momentary goal, so ideas about creating a single currency have already appeared in BRICS.

It is necessary to look for ways to protect interests from the dominance of mechanisms created by the West as part of a globalization model, which he abuses in a rude way. “First of all, I mean the role of the dollar,” Lavrov said at a press conference.

“The share of national currencies in the calculations between the BRICS countries is already actively growing. Already in the countries of the BRICS, initiatives are proclaimed about the need to work on the creation of their currency. The reason is very simple - you can not rely on the mechanisms that are in the hands of those who can deceive at any time, abandon their obligations”, the minister said.