Russia Says BRICS Currency Unlikely in Near Future but De-Dollarization Grows Globally
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 towards using national currencies in trade settlements. BRICS Currency and De-Dollarization With the BRICS leaders’ summit on the horizon, there is a growing discussion about de-dollarization and the feasibility of a common BRICS currency. The BRICS nations comprise Brazil, Russia, India, China, and South Africa. The summit will take place from Aug. 22-24 in Johannesburg. Dmitry Peskov, Press Secretary of the President of the Russian Federation, told reporters on Thursday that experts are discussing the possibility and feasibility of introducing a common currency, Russian state-owned news agency Ria Novosti reported (translated by Google’s AI program). “This is still a discussion process, it i