Contents tagged with BRICS
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Disillusionment in Kazan: Kremlin unimpressed with stagnant BRICS Summit results
High-ranking officials in the Russian government have expressed dissatisfaction with the outcomes of the recent BRICS summit held in Kazan.
The summit, hosted by Russia, concluded without achieving substantial progress, particularly in securing support from its allies against Western sanctions, reports the Russian Telegram channel "VChK-OGPU," which is known for its connections to Russia’s intelligence community.
The channel did not hold back, harshly describing the summit as a gathering of " …
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Putin calls for UN Security Council reform at BRICS summit
During the BRICS summit, Russian president Vladimir Putin, in the presence of UN Secretary-General António Guterres, called for increased representation of Asian, African, and Latin American countries—including those attending the event in Kazan—in the UN Security Council.
Additionally, the Russian leader argued that the rising influence of developing nations has not been adequately reflected in the governance structures of the IMF, the World Bank, and other development banks. He emphasized …
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EU calls for unified global pressure on Putin at BRICS summit to end Ukraine war
As the BRICS summit kicks off in Kazan on October 22, all participating leaders are encouraged to use this platform to urge Russian President Vladimir Putin to immediately end the war in Ukraine. This call to action was made on Wednesday, October 23, by Peter Stano, spokesperson for EU foreign affairs chief Josep Borrell.
Stano emphasized that the appeal particularly applies to UN Secretary-General António Guterres. According to him, Guterres should insist that Putin "withdraw Russian troops …
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Putin expresses openness to peace talks while declaring confidence in Russian victory over Ukraine
Russian President Vladimir Putin has suggested that Saudi Arabia could serve as a "comfortable venue" for negotiations amidst the ongoing conflict. Speaking on October 18 with BRICS journalists ahead of the bloc's summit in Kazan, the Russian President emphasized that any peace talks with Ukraine should be based on the Istanbul agreements.
Putin reiterated that the Russian Federation remains open to negotiations aimed at peaceful conflict resolution but stressed Moscow's preparedness for an …
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Putin concedes defeat in attempt to dethrone U.S. dollar with BRICS single currency
Russian President Vladimir Putin has conceded the failure of Russia's ambitious project aimed at challenging the dominance of the dollar as the primary global currency. The grand promises to establish the so-called "BRICS single currency" have fizzled out, and the idea is no longer on the table. Back in 2022, Russia announced plans to create a unified BRICS currency, with pledges to back it with land and rare earth metals to make it more attractive than the dollar.
However, it appears that …
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Serbian Deputy PM Vulin to attend BRICS summit in Russia as Vucic remains noncommittal
Serbian Deputy Prime Minister Aleksandar Vulin will attend the BRICS summit in Kazan, according to a report by RIA Novosti. Meanwhile, Russian President Vladimir Putin extended an invitation to Serbian President Aleksandar Vucic for the summit. On September 5, when asked by journalists whether he plans to visit Russia for the event from October 22-24, Vucic indicated he has numerous meetings with international leaders scheduled months in advance. This was widely interpreted as a veiled refusal. …
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Putin proposes to use ruble as BRICS currency
The Russian ruble could be a way for BRICS countries to make reciprocal trade payments, because the macroeconomic situation in Russia is “characterized by stability”, and the national currency can be converted easily to any other global currency, said Russian President Vladimir Putin at a BRICS summit in Brazil on Thursday.
He believes that national currencies should be actively used to finance projects, instead of traditional reserves.
“This will help to increase the weight of association …
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Erdogan: Russia and Turkey conduct negotiations on electronic payments
Turkey and Russia negotiate the possibility of moving to electronic payments, reported Turkish President Recep Tayyip Erdoğan during the 10th BRICS summit in Johannesburg.
“During my trip [to Africa], payment in national currencies became an important topic for negotiations. I discussed this issue with the leaders of each country I interacted with. In fact, we have already come to an agreement with Russia and China. The heads of our central banks and finance ministers also focus on this topic. …
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Putin calls for alternative to US dollar
The dollar’s status as the universal reserve currency “is becoming a problem” for the world economy, said Russian President Vladimir Putin at a press conference after the BRICS summit in South Africa.
According to him, the Kremlin “is well aware of what the dollar represents today”. “It is the universal reserve currency. To a greater or lesser degree the euro could aspire to this, but not entirely,” Putin observed.
The status of the dollar, for which there is no full-fledged substitute, is a …
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Russia considers creating cryptocurrency for payments between BRICS and EEU countries
The Bank of Russia is considering the possibility of introducing a supranational digital currency within the BRICS or the Eurasian Economic Union (EEU), Central Bank first deputy chairperson Olga Skorobogatova told reporters, Finanz.ru reports.
“We are continuing the work to investigate this matter. A matter which seems to us advisable to discuss on with our colleagues is the possibility of introducing a supranational digital currency in EEU territory or within the BRICS. There are many …