from Sputnik News:
Russia, together with BRICS countries, is working on creating its own payment system for the independent handling of all foreign trade, Russian President Vladimir Putin announced.
“In cooperation with BRICS countries, we are working on creating our own payment and settlement system, which will create conditions for the effective and independent servicing of all foreign trade,” Putin said during the plenary session of the Russian Energy Week International Forum.
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BRICS is an interstate organization established in 2006. As of January 1, 2024, Russia assumed the chairmanship of BRICS. This year, new members have joined the group – alongside Russia, Brazil, India, China, and South Africa, it now includes Egypt, Ethiopia, Iran, the UAE, and Saudi Arabia.
Putin further elaborated that BRICS sees its mission in combining economic potential and creating a space for mutually beneficial cooperation between countries.
“BRICS, with Russia chairing the organization this year, sees its mission in combining economic potential and creating opportunities for all those interested in harmonious, mutually beneficial cooperation,” he said.
