BRICS Payments Shift: Russia Reveals 90% Transactions Use National Currencies

Russia praised India’s BRICS leadership and highlighted growing cooperation as most payments among member nations move through local currencies.

Russia praised India’s BRICS presidency and the outcomes achieved during its leadership. Kremlin spokesperson Dmitry Peskov said Russia continues efforts to strengthen BRICS cooperation. He revealed that 90% of Russia’s payments with BRICS nations happen through national currencies. Peskov explained that these payments involve the respective currencies of member countries. However, he clarified that the objective does not involve de-dollarisation. Instead, the focus remains on expanding payment options globally.

BRICS Cooperation Expands Across Multiple Areas

According to Peskov, BRICS cooperation continues across three major areas. These include humanitarian cooperation and economic collaboration among member countries. Additionally, Russia remains committed to expanding BRICS membership. The group is also developing security cooperation mechanisms.

These efforts include tackling drugs, narcotics, and counter-terrorism operations. Moreover, BRICS members are increasing cooperation in space-related activities.

Russia Calls India A Strategic Partner

Peskov described India as Russia’s strategic partner. He said both countries continue strengthening cooperation across different sectors.

Furthermore, he stated that most payments between India and Russia also use national currencies. He highlighted this as part of growing bilateral cooperation.

Russia Discusses Ukraine Conflict And Peace Efforts

While discussing the Ukraine conflict, Peskov said Russia seeks an end to the war. He added that Moscow supports a peaceful resolution. He mentioned events from 2014 and accused the US, UK, and other European countries. According to Peskov, they planned actions aimed at removing Russia.

Meanwhile, Peskov welcomed India’s efforts toward peace. He also appreciated US President Donald Trump’s attempts to end the conflict. However, Peskov alleged that some European nations encourage Ukraine. He claimed they want Russia’s strategic defeat.

Peskov added that Russia would not allow such an outcome.