Siluanov allowed the creation of a single unit of account for the BRICS countries instead of the dollar
[ad_1]
The BRICS countries can create a single unit of account, alternative to the dollar. This was stated by the Minister of Finance of Russia Anton Siluanov in a conversation with the CGTN TV channel as part of the BRICS summit.
“We see the possibility of discussing the creation of unified settlement systems. This may be the unit of account for the BRICS member countries. Not just a single currency, as in the EU, but a unit of account as an alternative to the dollar, in which the cost of commodity deliveries can be expressed, benchmarks for some goods so as not to depend on the single currency or that emission center, which is unclear how issue of these banknotes,” he said (cit. according to TASS).
Siluanov also noted that in the development of trade relations between countries, the main emphasis is placed on settlements in national currencies. For example, March 30 Brazil and China concluded yuan trade agreement.
In mid-January, South African Foreign Minister Naledi Pandor statedthat the BRICS are looking to replace dollar payments with a “more fair” money exchange system. According to her, the payment system in dollars is designed for rich countries, while at the same time it is unprofitable for poor countries.
The Russian authorities have also repeatedly called for abandoning the dollar. In September 2022, Russian President Vladimir Putin stated that the process of de-dollarization inevitable. During a speech at the plenary session of the Eastern Economic Forum (WEF) he noted that confidence in the dollar, euro and pound sterling lost.
The BRICS summit (Brazil, Russia, India, China and South Africa) will be held from 22 to 24 August in Johannesburg (South Africa) in person for the first time in three years. Lavrov represents Russia at the event in person. Russian President Vladimir Putin will attend via video link.
[ad_2]
Source link