BRICS Foreign Ministers' Meeting to Discuss Creation of Independent Financial Mechanisms

31 May

Participants of the BRICS Foreign Ministers' Meeting will focus on developing recommendations for establishing financial mechanisms independent of the West. This was announced by Russian Foreign Minister Sergey Lavrov at a meeting of the Business Council under the Russian Foreign Ministry.


"We pay special attention, as instructed by the leaders during last year's summit in Johannesburg, to working out recommendations on the creation of such multilateral mechanisms that would not depend on the illegitimate actions of the West, which openly uses the existing instruments of globalization to pursue its neocolonial policy aimed at, simply put, living at the expense of others," Lavrov stated.


Lavrov highlighted that central banks and finance ministries are already involved in this effort and that the foreign ministries will actively participate due to the significant foreign policy and geopolitical implications. "The main thing in our work is, I emphasize it once again, the search for answers to the challenges and threats of modernity and the development of collective solutions to global problems and tasks of international development," he added.


Pavel Knyazev, Ambassador-at-Large of the Russian Foreign Ministry and Russia's sous-herpa in BRICS, mentioned that Russia expects about 20-25 countries, including the "top ten" of the association, to attend the BRICS Foreign Ministers' Meeting. The BRICS Ministerial Council is scheduled to be held on June 10-11 in Nizhny Novgorod.



GSV "Russia - Islamic World"

Photo: Commons 4.0

Based on materials from TASS