2023-07-23 09:55:12
The group formed by Brazilthe Russial’Indethe Chine and theSouth Africa (BRICS) wants to establish itself in the global economy. In this context, the group took the decision to make more settlements with national currencies. The Russian Foreign Ministry made the information public in an interview with the media RTFriday, July 14, 2023. In a context where several countries are moving away from the dollar in their trade, the Russian Ministry of Foreign Affairs wanted to point out that the option of using national currencies is difficult to apply.
Discussions around a sustainable payment mechanism
According to him, several factors are at the origin of this difficulty, namely: their higher volatility than the US dollar and their convertibility which remains limited. However, while the adoption of a common currency remains one of the main objectives of the BRICS, Russian diplomacy has stressed that it is a process ” delicate “. Note that important discussions will take place during the next BRICS summit, which will be held from August 22 to 24, 2023, in Johannesburgin South Africa.
According to Russian diplomacy, they will focus on a sustainable payment mechanism, as far as bilateral sustainable trade is concerned. As a reminder, the next BRICS summit will take place while a war is unfolding between theUkraine and Russia. This situation has led several Western countries to sanction the Russian president Vladimir Poutine, which has also been targeted by the International Criminal Court (ICC). As a member of the latter, South Africa would have the obligation to arrest the head of the Kremlin, if he set foot on his soil.
However, Pretoria announced, a few days earlier, that the Russian number one will not participate in the BRICS summit. This decision was made ” from a common agreement “. In a press release, the South African presidency said that it will, all the same, be represented by the head of Russian diplomacy Sergei Lavrov. The latter will participate in the said summit, alongside the South African, Russian, Chinese and Indian leaders.
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