Russian Foreign Minister Sergey Lavrov has declared that the actions of the BRICS bloc, integrated by Brazil, Russia, India, China, and South Africa, are focused connected reducing dependency connected the economical strategy managed by the U.S. and its Western allies. He denied a imaginable unified currency for each BRICS countries astatine this juncture.
Russian Foreign Minister Lavrov: ‘No One Is Talking About a Single Currency Now’
Russian Foreign Minister Sergey Lavrov stated 1 of the objectives of the BRICS bloc was to execute independency from the Western-controlled economical and outgo strategy successful its interior commercialized settlements and transactions. At the BRICS acme precocious held successful Johannesburg, Lavrov explained that this would beryllium 1 mode of escaping the hegemony of the U.S. arsenic the issuer of the dollar.
Quoted by the state-owned Russian quality outlet TASS, Lavrov stated:
All attraction is present focused connected uncovering ways to guarantee our communal trade, communal economical projects and investments successful specified a mode truthful arsenic not to beryllium connected the strategy controlled by the United States and its Western allies.
Furthermore, Lavrov denied the thought that the bloc was studying the instauration of a communal currency, stressing that “no one” was “talking astir a azygous currency now.” This contradicts anterior reports of economists who claimed that a communal currency was being discussed and that its worth would beryllium pegged to the terms of gold.
Alternative Solutions to Reduce U.S. Dollar Dependence
However, Lavrov talked astir a imaginable alternate involving a currency excavation among BRICS nations, explaining it could beryllium a precursor to the solution to dependence connected the U.S.-managed economical system.
Lavrov explained this thought was “a forerunner to the steps that the BRICS countries are readying to instrumentality – steps to facilitate the usage of nationalist currencies, but astir importantly, to make an alternate outgo system.”
While helium confessed that the last signifier of this evolving solution was chartless to him, helium stated that the bloc should beryllium preparing to beforehand it further, calling for the instauration of a moving radical to contiguous recommendations to the heads of authorities that would beryllium discussed astatine the adjacent BRICS summit, to beryllium held successful Kazan adjacent year.
Lavrov’s concerns made it to the BRICS acme “Johannesburg II Declaration,” wherever the bloc declared “the value of encouraging the usage of section currencies successful planetary commercialized and fiscal transactions.”
What bash you deliberation astir Sergey Lavrov’s statements astir creating an alternate outgo strategy autarkic from the U.S. and the West? Tell america successful the comments conception below.