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BRICS to create blockchain-based payment system – Putin aide

March 06, 2024 -

The BRICS group of emerging economies plans to create a payment system based on digital technologies, Yury Ushakov, a senior foreign policy aide to Russian President Vladimir Putin, has told TASS in an interview published on Tuesday.

(Article republished from to Ushakov, the system would be “outside of politics” and would not depend on national agendas or the fiat currencies of countries around the globe.

“We believe that an important ...

BRICS and EAEU trade blocs are accelerating the demise of the dollar

February 16, 2024 -

Russian Prime Minister Mikhail Mishustin revealed that the share of national currencies in the mutual settlements for the countries making up the Eurasian Economic Union (EAEU) is now at 90 percent.

The group was formed by Russia, Belarus and Kazakhstan in 2015 before being joined by Kyrgyzstan and Armenia; Vietnam is a free trade partner. It aims to ensure that workers, goods, services and capital can move freely between the countries that are part of the block.

In ...

BRICS nations are now openly preparing for a global collapse of the dollar

20 days ago -

This is according to proclamations by Russia's executive director for the International Monetary Fund, Alexey Mozhin. He said that the downfalls of the current financial system are growing more obvious and pointed out how BRICS could step up in such an event and provide a viable alternative.

According to Mozhin, BRICS member countries could develop a currency based on those of its members, including the Indian rupee, the Chinese yuan, the Brazilian real, ...

BRICS core member South Africa urges ICC to PROSECUTE Israel for war crimes

December 21, 2023 -

"In South Africa, we have an accord with many other countries in the world. So we see it fit to refer this whole Israeli government action to the ICC," said South African President Cyril Ramaphosa. "We have put through a referral because we believe that war crimes have been committed there."

According to Russia Today, Pretoria has already sent all relevant paperwork to the ICC, which is based in The Hague. Ramaphosa also requested that the ICC begin its probe into Tel ...

BRICS nations may call for Israel to officially be labeled a “terrorist” state

November 27, 2023 -

Citing alleged war crimes in Gaza, Raisi submitted a request to the group's online Extraordinary Joint Meeting on the Middle East Situation in Gaza, asking everyone involved to use their influence to break Israel's "siege" of Gaza and insure that humanitarian aid can be safely delivered to embattled Palestinian civilians.

"It is necessary that this fake regime be recognized as a terrorist regime and its army be regarded as a terrorist organization," Raisi said, adding ...

BRICS nations jolt global economy, start trading oil in RUPEES rather than dollars

August 30, 2023 -

Just the other day, in fact, India reportedly purchased an order of oil using rupees instead of Federal Reserve Notes, which are still – but not for much longer – the primary foundation of global trade, especially for earth-based "fossil" fuels like oil.

According to reports, the United Arab Emirates (UAE) signed an agreement allowing not just India but all the rest of the BRICS members to buy and sell oil in rupees, which is really bad news for the U.S. economy....

BRICS block discussing possible expansion as it seeks to “upend” the US dollar

August 22, 2023 -

The BRICS bloc of developing economies, formed in 2009, is currently meeting for its 15th summit in Johannesburg, South Africa, with the goal of the meeting being to discuss possible expansion and eventually replacing the U.S. dollar as the premier currency of international reserves and medium of exchange. (Related: END OF THE DOLLAR: South Africa says over 40 countries want to join BRICS.)

Even South African Ambassador to BRICS Anil Sooklal ...

BRICS bloc’s proposed gold-backed currency could spell an END to the US dollar

July 28, 2023 -

This is according to multiple experts who warn that BRICS' proposal to leverage the power of gold could end with these five nations beating the dollar.

Investment banker and author Jim Rickard noted that as inflation and devaluation continue to affect the U.S. dollar, the price of this new gold-backed BRICS currency would only keep rising.

"It's a way to destroy the dollar. You don't need dollars and you don't need gold. You just need to be smart ...

BRICS nations to create independent blockchain-based payment system as part of sweeping dedollarization infrastructure

March 13, 2024 -

BRICS is a geopolitical bloc that is made up of Brazil, Russia, India, China, South Africa, Iran, Ethiopia, the United Arab Emirates and Egypt. It was originally an alliance of emerging market nations, but recent additions have placed some more developed, higher-income countries on their roster.

Relying on blockchain will simplify payments by authenticating them in real time with a decentralized network. The technology is already used for digital currencies such ...

BRICS members discuss possible expansion and creation of common currency to challenge US dollar’s supremacy

June 09, 2023 -

The five nations that make up BRICS – Brazil, Russia, India, China and South Africa – represent more than 40 percent of the global population, and their share of the world economy – when measured in purchasing power parity – outperforms that of the American-led G7 bloc.

Once viewed simply as a loose association of disparate emerging economies seeking to find a way to make it easier to sign trade deals with one another, BRICS has in recent years taken on ...

DE-DOLLARIZATION: Russia officially calls on BRICS nations to ditch U.S. dollar

December 26, 2023 -

At the meeting Siluanov met with Lan Fo'an, his Chinese counterpart, to discuss new ways to facilitate making trade payments in local currencies rather than the U.S. dollar as part of a long-term de-dollarization strategy that aims to unseat America from global trade dominance.

"We need to further develop financial cooperation within the BRICS countries," Siluanov added. "Here we see opportunities ... to develop a payments system that would be independent of ...

De-dollarization “gaining momentum … irreversible,” Putin tells BRICS summit in remote address

August 25, 2023 -

Speaking via livestream at the BRICS Summit, Putin, who was unable to show up in person because of an International Criminal Court (ICC) arrest warrant and Rome Statute requiring the South African government to detain him, emphasized that the de-dollarization movement is "gaining momentum."

The U.S. dollar is becoming increasingly less powerful, Putin explained, noting that its ongoing decline as the respected global reserve currency is an "objective and irreversible" ...

Putin to skip BRICS Summit in South Africa, eluding potential ICC arrest

July 20, 2023 -

The South African government confirmed the decision on July 19, with a spokesman for the country's President Cyril Ramaphosa saying Russian Foreign Minister Sergey Lavrov will represent Putin at the summit. Lavrov will join Ramaphosa and the leaders of Brazil, India and China "by mutual agreement" during the two-day meeting.

The Kremlin did not immediately comment on the decision. Previously, Kremlin Press Secretary Dmitry Peskov had remarked Moscow would be represented ...

Russian lawmaker wants BRICS to CREATE ITS OWN INTERNET free of Western influence

November 22, 2023 -

Russian politician Dmitry Gusev, first deputy chairman of the State Duma Control Committee, proposed that Russia should develop this alternative internet in collaboration with other BRICS nations. (Related: Russian lawmaker says BRICS should create its own alternative internet to preserve traditional values.)

Gusev claimed that this "single inclusive BRICS+ cyberspace" is meant to be "an internet where traditional values and goodness prevail....

USD dominance will substantially weaken with BRICS launch of a gold-backed cryptocurrency

July 13, 2023 -

According to state-run international news portal RT, Russian President Vladimir Putin's administration confirmed that Brazil, Russia, India, China and South Africa (BRICS) are set to announce at the BRICS summit in August in South Africa the launch of a new gold-backed trading currency. (Related: BRICS members discuss possible expansion and creation of common currency to challenge US dollar's supremacy.)

BRICS plans to introduce new gold-backed ...

BRICS New Development Bank ditching US dollar by offering loans in local currencies

April 19, 2023 -

NDB President Dilma Rousseff confirmed the move, adding that the financial institution plans to give 30 percent of loans in the local currencies of member nations. The NDB was established in 2014 by the BRICS group – Brazil, Russia, India, China and South Africa – to challenge the U.S.-dominated World Bank. Rousseff, who served as Brazil's president from 2011 until her impeachment in 2016, took over the NDB's leadership in March 2023.

"It is necessary to find ...

DEDOLLARIZATION IN MOTION: Egypt moves against U.S. dollar, seeks trade settlements with BRICS states

February 19, 2024 -

The decision to embrace national currencies is driven by the need to counteract rising costs associated with using foreign currencies due to global inflation.

Ragy El Etreby, Egypt's newly appointed ambassador to BRICS and assistant foreign minister for international and regional economic affairs, emphasized the importance of this strategic shift. This announcement is a significant step in the ongoing process of de-dollarization within the BRICS group....

Russian central bank governor claims BRICS group has now surpassed G7 in aggregate GDP

February 02, 2024 -

She issued this pronouncement on Jan. 30, telling the state-owned RIA Novosti news agency that the BRICS member states have exceeded their G7 counterparts in the share of global gross domestic product (GDP) in terms of purchasing power parity (PPP). A metric popular with many economists, PPP compares economic productivity and standards of living between countries for the differences in the cost of goods and services.

The CBR chief noted that with the addition ...

Russian lawmaker says BRICS should create its own alternative internet to preserve traditional values

November 21, 2023 -

A document seen by RIA Novosti shows that Russia's first deputy chairman of the State Duma Control Committee, Dmitry Gusev, submitted a request for the creation of a new "single inclusive BRICS+ cyberspace" to Maksut Shadaev, the head of Russia's Ministry of Digital Development, Communications and Mass Media.

The proposal stipulates the creation of a whole new alternative internet "where traditional values and goodness prevail." This can be done, the request ...

END OF THE DOLLAR: South Africa says over 40 countries want to join BRICS

August 16, 2023 -

This is according to financial expert and analyst Andy Schectman, who recently spoke with Kitco News to discuss the South African government's recent revelation that some 40 or so nations are gearing up to submit their formal applications to join BRICS.

Schectman noted that the developing world is creating multinational institutions that are steadily growing in power and influence to the point that they may one day be able to threaten America's global financial ...

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