Russia Prioritizes Investment as BRICS Currency Plans Take Shape
Russian officials confirmed that BRICS is not pursuing a shared currency, contrary to ongoing speculation. Instead, the bloc is focusing on investment partnerships to foster economic collaboration.
Dmitry Peskov, a Russian spokesperson, emphasized the creation of joint investment platforms for mutual investments and investments in third countries. Despite discussions around reducing reliance on the U.S. dollar, BRICS members remain divided on the idea of a unified currency, with some favoring local currency trade instead.
Russian President Putin’s criticism of U.S. sanctions, which leverage the dollar as a tool, underscores BRICS’ push for financial independence without abandoning the dollar.
Clever Robot News Desk 4th February 2025
