Brazil Pushes BRICS to Shift From US Dollar, Advocating National Currencies in Global Trade
Brazil pushes for a shift away from the U.S. dollar within the BRICS alliance, advocating for more use of national currencies in trade among member countries. As the group expands, discussions on alternative payment platforms are gaining momentum ahead of the BRICS summit in Kazan. Brazil aims to advance this initiative during its 2025 chairmanship, […]
BRICS to Discuss Alternative Payment Platforms at Upcoming Summit
Russian Foreign Minister Sergey Lavrov announced that a report on alternative payment systems for BRICS nations will be presented at an upcoming summit in Kazan. The proposal, led by Brazilian President Lula da Silva, seeks to reduce reliance on traditional financial platforms. Lavrov emphasized the increasing use of national currencies in BRICS trade, particularly with […]
Lavrov Says He Agrees With Donald Trump on US Sanctions Weakening Dollar’s Status
Russian Foreign Minister Sergey Lavrov has backed former U.S. President Donald Trump’s remarks about the negative effects of U.S. sanctions on the dollar and the American economy. Lavrov agreed that sanctions imposed by the Biden administration have weakened the dollar’s global reserve status. He further noted a global shift towards dedollarization, led by nations like […]
BRICS Payment Platforms Gain Momentum as US Dollar Alternatives, Says Russian Official
BRICS’ new payment platforms, which offer alternatives to the U.S. dollar and euro, are attracting global attention, according to Russian Foreign Minister Sergey Lavrov. These systems enable countries to conduct economic activities without relying on currencies used as political tools by Western powers. The Russian official noted increasing interest in these platforms as a way […]
Head of the State Duma’s Financial Market Committee: National Digital Currencies to Be Considered for Bilateral Settlements Between China and Russia
Anatoly Aksakov, head of the State Duma’s Financial Market Committee, has discussed the use of national digital currencies for bilateral settlements between Russia and China. In a recent interview with Russian media, Aksakov stated that these instruments will be considered for such settlements as soon as the regulatory and technological platforms for this task are […]
Russian Foreign Minister States Barter Trade Is Under Consideration for Bilateral Settlements With China
Russian Foreign Minister Sergey Lavrov has emphasized that a barter trade system could be organized with China to overcome the current settlement problems. Lavrov noted that a similar system was studied by Brazil’s Lula outside the BRICS organization, proposing barter settlements among countries in Latin America and the Caribbean region. Russian Foreign Minister Sergey Lavrov […]
Push to Use National Currencies in SCO Cannot Be Stopped, Russia’s Lavrov Says
Efforts to transition to trade in national currencies in the Shanghai Cooperation Organization (SCO) can no longer be stopped, according to Russian Foreign Minister Sergey Lavrov. During a meeting with his colleagues in India, Moscow’s top diplomat also discussed the similar initiative within BRICS. Sergey Lavrov Convinced SCO Countries Will Switch to National Currencies, Won’t […]
Latam Insights: Argentine Peso Plunges, Venezuela and Russia to Develop SWIFT Alternative, Bitcoin Mining Still Paused in Venezuela
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: the Argentine Peso plunges against the U.S. dollar, Venezuela and Russia agree to develop a joint SWIFT alternative, and Bitcoin mining is still paused in Venezuela. Argentine Peso Plunges 10% […]
Russian Foreign Minister Sergey Lavrov Explains ‘Multipolar’ World View in Brazil
Sergey Lavrov, the Russian foreign minister, started his tour of Latin America on April 17, landing first in Brasilia to hold high-level talks with Brazilian President Luiz Inacio ‘Lula’ da Silva and Brazilian Foreign Minister Mauro Vieira. Lavrov insisted that Russia was building a “multipolar” world, while Vieira rejected the unilateral sanctions enacted against Russia. […]