Lavrov: BRICS currency initiative will be discussed at the South African summit
Russian Foreign Minister Sergei Lavrov said that the initiative to launch the BRICS currency will be discussed at the South African summit scheduled for August next year.
Lavrov said after meeting with Angolan President João Lourenço today, Wednesday, that “the latest ideas include the formation of a special currency for the BRICS group (Russia, India, China, South Africa, Brazil), as well as America in Latin.”
The Russian Foreign Minister added that this particular initiative will be discussed at the BRICS summit, which will be held in South Africa at the end of August, noting that representatives of African countries have been invited to this event.
On June 22, Russian President Vladimir Putin announced that the possibility of creating an international currency based on the BRICS currency basket is being considered.
Last November, the Economic Committee of the Eurasian Economic Union proposed the creation of a single payment card payment system for the BRICS countries (Russia, India, China, South Africa, Brazil) and the countries of the Eurasian Union (Russia, Kazakhstan, Belarus, Armenia). , Kyrgyzstan).About a system that can combine the payment systems of Chinese Union Pay, Indian RuPay, Brazilian Elo and payment systems of the Eurasian Union.
This comes at a time when Russia and China have begun to take serious steps towards working with their national currencies, the most notable of which is the agreement between the Russian company Gazprom and the Chinese company CNPC to transfer payments. for gas supplied through Power of Siberia in rubles and yuan.