During its chairmanship of BRICS, the Russian Federation wants to focus on settlements in national currencies

Russia held a presentation in South Africa of plans for BRICS work in 2024 – this year the Russian Federation will chair the association. Moscow wants to place a special emphasis on increasing settlements in national currencies.

Russia presented its plans at the final 2023 meeting of Sherpas and Sous-Sherpas of the BRICS countries in Durban (South Africa). Deputy Minister of Foreign Affairs Sergei Ryabkov took part in the event.

Russia’s plans for the BRICS presidency in 2024 (published in press release Ministry of Foreign Affairs of the Russian Federation):

• close attention will be paid to integrating new BRICS members into the architecture of multilateral cooperation;
• the modality of the new category of “partner states” of the association will be finalized;
• it is expected to increase foreign policy coordination in the BRICS format on international platforms, to strengthen interaction in the fight against terrorism, money laundering, on the issue of international information security and on the return of assets obtained by criminal means;
• special emphasis will be placed on increasing the role of the BRICS states in the international monetary and financial system, developing interbank cooperation with an emphasis on increasing settlements in national currencies;
• It is expected that dialogue and interaction will deepen in the field of culture, sports, and youth exchanges.

On the sidelines of the event in Durban, Mr. Ryabkov held bilateral meetings with colleagues from South Africa, China, Ethiopia, India, the UAE, and Saudi Arabia.

The BRICS member countries – Brazil, Russia, India, China, South Africa – in August invited Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE to join the association. Argentina after President Javier Miley came to power refused join BRICS.

About the expansion of BRICS – in the material “Kommersant” “Took a Wide Step”.

Leonid Uvarchev