Russia hopeful of BRICS declaration, says 90 per cent of its trade with bloc settled in national currencies

Russia hopeful of BRICS declaration, says 90 per cent of its trade with bloc settled in national currencies
(Sep 8) Russia on Tuesday said it was hopeful that BRICS member states would reach a consensus declaration at the grouping’s upcoming New Delhi summit, overcoming differences between Iran and the United Arab Emirates (UAE) over the West Asia crisis.

Kremlin spokesperson Dmitry Peskov, speaking to Indian journalists, also said that the summit will focus on deepening cooperation across politics and security, economy and finance, and new technologies. He added that the grouping demonstrates what a fair and multipolar world order looks like.

Peskov noted that Russia now conducts 90 per cent of its financial transactions with BRICS partners, including India, in national currencies, asserting that the bloc is not pursuing an explicit de-dollarisation policy to challenge the US dollar.