BRICS is developing a reliable payment system independent of the dollar

In an interview with TV BRICS, he noted that this issue was at the core of the discussion at the Kazan summit, and was also discussed at the meetings of finance ministers and heads of central banks of the participating countries during the year.

"Preliminary instructions have still been developed, but they already provide an opportunity to start the formation of a reliable, stable and long-term system. I am sure that Brazil, as the next president, will continue this work," Lavrov emphasized.

According to him, the dollar is more often used as an aggressive tool in the world economy, which makes it necessary to create a parallel payment system protected from these risks.

"No one is safe from the whims of the dollar, especially considering the unstable state of the United States. They feel that their hegemony is ending and they are ready to use any means to preserve it," the minister added.

Earlier, Finance Minister Anton Siluanov stated that the creation of an alternative system for BRICS is an urgent necessity, especially when the usual settlement system fails. He emphasized that the new payment structure will use digital financial assets and a financial messaging system.

Let's remind that the BRICS summit was held in Kazan on October 22-24. From January 1, 2024, Russia officially chairs the association, which now includes Egypt, Ethiopia, Iran, the UAE, and Saudi Arabia in addition to Russia, Brazil, India, China, and the AU. The annual period of Moscow's presidency is spent under the slogan of strengthening multilateralism for the sake of global fair development and security.