Foreign Minister Sergey Lavrov noted that the decision to start developing an alternative payment mechanism “in case of aggressive use of the dollar” was “the key result of the Russian presidency of the BRICS” and, in general, of the Kazan summit of countries.
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According to Lavrov, this step is not directed against the current global financial system, in case the role of the dollar is affected, “parallel structures” are needed:
“Insuring against this, creating settlement systems, payment platforms that do not depend on such risks, is now a common task,” he said in an interview with BRICS TV (cited on the Ministry of Foreign Affairs website).
Preliminary recommendations have already been prepared and therefore the task forces can begin practical work on launching “sustainable settlement systems” that enable interbank settlements and insurance, including in national currencies.
These decisions, according to the minister, show “the desire of the BRICS for economic independence and a just global order.”
Author:
Ekaterina Alipova
Source: RB
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