Russia Provides Major Update on BRICS Currency Launch
BRICS member Russia is eager to launch a new common currency to challenge the US dollar globally. During the previous summit in Kazan, President Vladimir Putin showcased a mock-up currency, highlighting it could soon become a reality. The alliance is working on the formation of a common currency behind closed doors, and the development remains under wraps.
Also Read: BRICS: Payments in Chinese Yuan Increased to 24% in 2025
When Will BRICS Launch Common Currency? Diplomat Answers
Russian Foreign Minister Sergey Lavrov revealed in a latest interview with Brazilian newspaper O Globo that the BRICS group would launch the common currency once all conditions are put in place. He said that when all necessary “financial and economic conditions” are kept in order, they would release the new currency.
Also Read: BRICS: US Sanctions Fail as Russia’s Economy Grows 4.1%
“It would be premature to discuss a transition to a single currency for BRICS,” said Lavrov. “We can come back to the question about a common currency or a single payment unit for BRICS once the necessary financial and economic conditions are in place,” he added.
The diplomat also stressed that there is a lack of trust in the US dollar not just by BRICS but other developing countries who are sitting on the sidelines and would accept the common currency when launched. Lavrov explained that the US is solely responsible for the de-dollarization agenda that has gripped the world due to their foreign policies “which is attributable to the lack of trust towards the Western-led international financial institutions.”
Also Read: BRICS: China Officially Launches Plan to Promote Its Own Payment System
Read here to know how many sectors in the US will be affected if BRICS launches own currency for trade. Russia, China, and Iran are eager to launch a common currency and dim the lights on the US dollar’s supremacy. The next decade could seal the fate of the US dollar as many countries are looking to cut ties. The USD is now at a pivotal point in history where the chances of stepping down are higher than before.
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BRICS Slashes US Dollar Use to One-Third as Local Currencies Surge in Trade
Russia Provides Major Update on BRICS Currency Launch
BRICS member Russia is eager to launch a new common currency to challenge the US dollar globally. During the previous summit in Kazan, President Vladimir Putin showcased a mock-up currency, highlighting it could soon become a reality. The alliance is working on the formation of a common currency behind closed doors, and the development remains under wraps.
Also Read: BRICS: Payments in Chinese Yuan Increased to 24% in 2025
When Will BRICS Launch Common Currency? Diplomat Answers
Russian Foreign Minister Sergey Lavrov revealed in a latest interview with Brazilian newspaper O Globo that the BRICS group would launch the common currency once all conditions are put in place. He said that when all necessary “financial and economic conditions” are kept in order, they would release the new currency.
Also Read: BRICS: US Sanctions Fail as Russia’s Economy Grows 4.1%
“It would be premature to discuss a transition to a single currency for BRICS,” said Lavrov. “We can come back to the question about a common currency or a single payment unit for BRICS once the necessary financial and economic conditions are in place,” he added.
The diplomat also stressed that there is a lack of trust in the US dollar not just by BRICS but other developing countries who are sitting on the sidelines and would accept the common currency when launched. Lavrov explained that the US is solely responsible for the de-dollarization agenda that has gripped the world due to their foreign policies “which is attributable to the lack of trust towards the Western-led international financial institutions.”
Also Read: BRICS: China Officially Launches Plan to Promote Its Own Payment System
Read here to know how many sectors in the US will be affected if BRICS launches own currency for trade. Russia, China, and Iran are eager to launch a common currency and dim the lights on the US dollar’s supremacy. The next decade could seal the fate of the US dollar as many countries are looking to cut ties. The USD is now at a pivotal point in history where the chances of stepping down are higher than before.
Read More