Russia’s Lavrov says BRICS single currency talks ‘possible’ when conditions allow
It is possible to return to discussing the issue of creation of a single currency for BRICS once the necessary conditions are in place, Russian Foreign Minister Sergey Lavrov said in an interview with the Brazilian newspaper O Globo.
"It would be premature to discuss a transition to a single currency for BRICS," he said, News.Az reports, citing TASS.
"We can come back to the question about a common currency or a single payment unit for BRICS once the necessary financial and economic conditions are in place," Lavrov added.
BRICS member states are working together "to create a payment and settlement infrastructure for carrying out cross-border settlements among BRICS countries," which includes increasing the share of national currencies in transactions, the minister noted.
He also stressed that dedollarisation has been one of the defining global economic trends, "which is attributable to the lack of trust towards the Western-led international financial institutions."
Kremlin Spokesman Dmitry Peskov said in January that BRICS was not discussing a unified currency for the alliance, focusing instead on establishing common investment platforms in third countries, as he commented on US President Donald Trump’s threats to impose 100% tariffs on goods from BRICS countries in the event that they create a new currency or reject the dollar.
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