Lavrov: BRICS countries have developed recommendations for alternative payment mechanisms to the dollar

Russian Foreign Minister Sergey Lavrov announced that the BRICS countries have already developed recommendations on alternative payment mechanisms to the dollar.

Lavrov said in an interview with the BRICS International Television Network today: “The dollar is increasingly being used as an aggressive weapon in the global economy, so it is necessary to insure against this and create a parallel settlement system that will not be exposed to such risks, No one is safe from this arbitrariness, given the desperate position of the United States in today’s world. They feel that their hegemony is slipping away and the United States wants to use everything, including prohibited methods, to maintain it.”

Lavrov noted that the payment system was on the agenda of the BRICS summit in Kazan, which was held recently and in the meetings held throughout the year between finance ministers and central bank heads. Recommendations have already been developed but are not final, and it has already become possible to start creating reliable, sustainable and long-term systems, expressing his confidence that Brazil will continue working in this direction during its presidency of BRICS.

Russian Finance Minister Anton Siluanov had previously indicated that when the current and familiar payment system fails, creating an alternative for BRICS countries is a vital necessity. The new payment system will be developed taking into account the use of digital financial assets, and includes the financial messaging system.

Inas Abdulkareem