It is necessary to continue working on the creation of alternative payment platforms for the BRICS countries. This was stated by Russian Foreign Minister Sergey Lavrov during a government session in the State Duma.

The Russian foreign minister emphasised that the process of transition to national currencies in mutual settlements will continue.

“We are engaged in this on a bilateral basis. With the People’s Republic of China we already have about 90 per cent of settlements in national currencies, about 50 per cent – with India,” he noted.

According to Lavrov, at the last summit the central banks and finance ministries of the participating countries were instructed to prepare recommendations on alternative payment platforms for the next such event.

The minister also recalled Russia’s chairmanship of the BRICS grouping, which began on 1 January, under the motto: “Strengthening multilateralism for equitable global development and security.”

“Today BRICS is one of the “backbones” of the emerging multipolar world. We are doing our utmost to ensure that after its expansion the association further strengthens its position as a reliable and effective promoter of the interests of the World Majority”

Sergey Lavrov Russian Foreign Minister

The Russian Foreign Minister said that work is underway to establish a category of BRICS partners in fulfilment of the instruction of the BRICS leaders agreed at last year’s summit in Johannesburg (South Africa).

In addition, Lavrov announced the BRICS Parliamentary Forum, which will be held on 11-12 July in St. Petersburg. This is reported on the official
website of the Russian Foreign Ministry.

“Within the framework of the Russian presidency in the association there will be several major events with the participation of parliamentarians, to which we attach great importance,” the Minister emphasised.

Photo:
kremlin.ru