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Russian President Vladimir Putin confirmed today that the BRICS economic alliance is working on a new payment system free of USD restrictions and sanctions. He focused on BRICS as the new center of global growth. Russian has turned to China, and away from the West, after the calamity of the Ukraine War, which has impacted both NATO and Russian allies.
“BRICS is working on our own independent payment system, free from political pressure, abuse and external interference.”
Putin says BRICS is becoming the new center of global growth at the St Petersburg International Economic Forum.
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2 comments
WTF – all are communist countries except India.
Ruble is worthless and Chinese yuan soon also. China has printed 500 Billion yuan in past month – inflation going to explode. South Africa is a basket case and their rand continues to decline to worthlessness. Brazil will be a basket case once more under stole election by Lula
The will be playing musical chairs trying to get rid of the other countries money before it declines.
BRICS will indeed become the world economy, there are 159 countries that are requesting membership, whether permanent or partnership. They have the Russian SPFS and China’s CIPS global payment system and do not need SWIFT. What makes BRICS so strong is the number of resource economies in the coalition, in the future the holder of the world’s raw materials will be king.
Russia has by far the largest resource economy in the world, and they just ‘obtained’ the most resource rich lands in Ukraine. If they get the port of Odessa and landlock Ukraine, it’s over for Europe. The US has been led by short sighted leadership and have had circles run around them by BRICS nations.