The new step of BRICS to cancel the currency of the US dollar
The BRICS community of emerging economies is discussing the possibility of developing an independent payment system based on digital currencies to reduce dependence on western financial systems.
Announcing the plan, Russian presidential adviser Yury Ushakov said that creating an independent BRICS payment system is an important goal for the future, which will depend on the use of digital currencies.
Ushakov told the TASS news agency that the main thing is to simplify financial transactions for the government, ordinary people, and businesses.
BRICS is an economic union that was created in 2009 and since 2010 it included Brazil, Russia, India, China and South Africa. At the beginning of this year, BRICS accepted new members, which are Egypt, Iran, Ethiopia and the UAE, while 44 other countries reportedly expressed interest in joining the group.
Last year, the BRICS countries strengthened the trade of local currencies to strengthen their economies and counter the negative effects of the US dollar currency monopoly.
Iran's Deputy Foreign Minister Mahdi Safari has said that creating a common currency in the BRICS group can be very effective.
The BRICS countries together have large reserves of foreign currency, abundant natural resources and a population that accounts for more than 40% of the world's population and on that basis can be a large economic group with great influence in the world.
