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Russia Says BRICS Currency Unlikely in Near Future but De-Dollarization Grows Globally
4.8.2023
Russia says that a common BRICS currency is unlikely to be feasible in the near future but the process of de-dollarization of the global economy is inexorably underway. Russian Press Secretary Dmitry Peskov added that many countries, including those that do not face sanctions, are gravitating...
Russian Official Says BRICS Currency Could Be Discussed at Upcoming Summit
30.7.2023
Russia’s deputy prime minister has stated that the topic of a common BRICS currency may still be on the table at the economic bloc’s upcoming leaders’ summit. A total of 69 leaders, including all African heads of state, have already been invited to the August summit where de-dollarization...
Russia’s Central Bank: BRICS Currency Requires Consent of Many Parties, Faces Implementation Challenges
12.7.2023
The governor of Russia’s central bank says the creation of a common BRICS currency “requires the consent of many parties.” While emphasizing that the proposed BRICS currency “deserves attention,” the Russian central bank chief cautioned that this project is challenging and “will...
Treasury Secretary Yellen: BRICS Currency Won’t Threaten US Dollar Dominance
10.7.2023
U.S. Treasury Secretary Janet Yellen has stated that she does not see the U.S. dollar’s dominance being threatened by any development, including the proposed BRICS currency. Yellen stressed that all the data of which she is aware shows that the dollar is overwhelmingly used in international...
Russian Official Expects Agreement on BRICS Currency This Year
1.5.2023
The chairman of the State Duma Committee on the Financial Market says that an agreement on the BRICS currency can be reached in 2023 as BRICS nations ramp up their de-dollarization efforts to shift away from U.S. dollar reliance. “By linking its economy and currency to politics, the U.S....