26.09.2024, Moscow.
Russia, in collaboration with its BRICS partners, is working on creating an independent international payment system to facilitate foreign trade. Russian President Vladimir Putin made this announcement on September 26 during his speech at the plenary session of the international forum Russian Energy Week.
According to Putin, the new system will enable efficient and independent handling of all external economic transactions, helping BRICS countries reduce their reliance on external financial mechanisms. This initiative aims to strengthen the economic independence of the member countries, especially amid increasing global challenges.
The BRICS coalition was established in 2006, and as of January 1, 2024, Russia has taken over the chairmanship of the organization. Recently, new members have joined BRICS – Egypt, Ethiopia, Iran, the UAE, and Saudi Arabia – expanding the influence of the group.
Source: Rossa Primavera News Agency
