The upcoming BRICS summit in Johannesburg may include discussions about an agreement aimed at increasing the utilization of national currencies for trade settlements among the member countries (Brazil, Russia, India, China, South Africa). This information comes from sources familiar with the ongoing discussions, as reported by the Financial Times.
However, it's important to clarify that this initiative doesn't involve the creation of a single currency or the complete abandonment of the US dollar. The intention is to enhance the role of national currencies in trade settlements among BRICS nations. In this context, Anil Sooklal, the South African Sherpa in BRICS, emphasized in mid-August that the association is not pursuing the goal of full dedollarization.
Scheduled to take place from August 22 to 24, the Johannesburg summit is poised to be one of the largest gatherings of heads of state and government from the Global South in recent years. The invitation list includes leaders from 54 African countries. Russian President Vladimir Putin will participate in the summit via video link, while Russian Foreign Minister Sergey Lavrov will attend the event in person.
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Photo: FAS
Based on materials from TASS