BRICS

Russia Outlines “BRICS Bridge” Digital Settlement Plans

BRICS, Economy, Trade

Russia has proposed to BRICS countries and partnership members a mechanism for cross-border payments based on the BRICS Bridge settlement platform, according to Anton Siluanov, Russia’s Finance Minister. He explained that the mechanism would see BRICS members central banks issue digital financial assets (DFAs), which would in turn peg their value to the national currencies […]

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The Chinese RMB Yuan Becomes Russia’s Currency Valuation Baseline: The Implications For The US Dollar and Euro 

BRICS, China, Economy, Finance

In response to Wednesday’s (June 12) US sanctions concerning the provision of services to Russia for trading US dollars or Euros, the Bank of Russia has stated that the Chinese RMB Yuan / Russian Ruble exchange rate will now be the baseline from which other currency pairs, including for the euro and the dollar, will

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Moscow: Iran Would Benefit By Joining BRICS New Development Bank

BRICS, Finance, Investment, Trade

Sergey Ryabkov, Russia’s Deputy Foreign Minister has said that Iran would benefit if it joined New Development Bank established by the BRICS countries. Speaking at the BRICS foreign ministers meeting in Nizhny Novgorod, he said that “In order for Iran’s entry into BRICS to face the least difficulties, it is necessary to take a number

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Future BRICS Currency To Combine A Gold Standard & Sovereign Currency Mix

BRICS, Finance, Trade

As we reported last week, Russian President Vladimir Putin has held meetings with Dilma Rousseff, the Head of the BRICS New Development Bank (NDB). A new priority for the NDB, as directed by its shareholders, is the development of a new digital currency to facilitate direct trade between members and bypass sanctions imposed on Russia

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BRICS Plus Zim

Zimbabwe – BRICS Multilateral Trade Shoots Up as Harare Looks To Join  

Africa, BRICS, Trade

Zimbabwe maintains good relations with all BRICS member countries and it is edging closer to joining the grouping, Zimbabwean President Emmerson Mnangagwa said as he returned home from the St. Petersburg International Economic Forum (SPIEF). Mnangagwa said that “Zimbabwe is edging closer to joining the BRICS economic bloc. Our good relations with members will enhance

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BRICS, EAEU Could Be Part Of A New Unified Eurasian Commodities Exchange

BRICS, Eurasian Economic Union, Finance

The St. Petersburg International Commodity and Raw Materials Exchange (SPIMEX) will create a new, common EAEU commodity exchange market and then intends to integrate this to include commodities trading within the BRICS, according to SPIMEX President Igor Artemyev, speaking on the sidelines of the St. Petersburg International Economic Forum (SPIEF). Artemyev stated that “A large

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