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Putin Blasts US Sanctions, Reveals 95% of Russian Trade Now Dollar-Free

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Russian President Vladimir Putin criticized U.S. sanctions, noting that they are driving global economies away from the U.S. dollar and leading to a gradual decline in its use for international trade and reserves. He highlighted that Russia now conducts 95% of its foreign trade in national currencies due to these sanctions. Putin emphasized BRICS nations’ … Read more

BRICS Nations to Expand Use of National Currencies Through New Financial Platform

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Russian presidential aide Yury Ushakov announced new BRICS initiatives to increase the use of national currencies in trade, backed by financial infrastructure developments like a BRICS-wide platform and special clearing systems. This move aims to simplify transactions between member nations and reduce trade costs. Meanwhile, Russian Deputy Foreign Minister Sergey Ryabkov highlighted ongoing Western efforts … Read more

Putin Reveals Over 85% of CIS Trade Now in National Currencies

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Russian President Vladimir Putin announced that more than 85% of trade within the Commonwealth of Independent States (CIS) is now conducted in national currencies, highlighting a move toward greater financial independence. This development is part of broader efforts by CIS countries to reduce reliance on foreign economic systems, particularly imports, and to build resilient financial … Read more

BRICS Unified Currency Deemed Premature by Russian Official

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Russia’s Deputy Foreign Minister has stated that discussions on a single currency for the BRICS economic bloc are premature due to differences in financial regulation among member nations. Instead, the focus remains on enhancing financial sovereignty and exploring national currencies for trade. Ryabkov highlighted ongoing efforts to strengthen the bloc’s economic independence, with authorities actively … Read more

Russia-China Trade Grows Despite Global Challenges, Putin Highlights

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Russian President Vladimir Putin marked the 75th anniversary of the People’s Republic of China by praising the solid partnership between Russia and China. He emphasized the resilience of their economic relationship and increasing trade despite international challenges. Putin also highlighted the significance of their cooperation in multilateral organizations, showing the strategic alignment between the two … Read more

Select Group of Russian Firms Authorized to Use Crypto for Chinese Imports Amid Sanctions

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A select group of Russian companies, including electronics producers and financial institutions, has received approval to use cryptocurrencies for Chinese imports under a pilot legal framework. Overseen by Russia’s central bank and the Ministry of Finance, this initiative targets firms handling dual-use products and facing challenges with international payments, particularly with China. Russian Firms Explore … Read more

Putin: BRICS Nations Developing Own Payment and Settlement System

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Russian President Vladimir Putin has revealed plans for an independent payment system in collaboration with BRICS nations to secure foreign trade transactions. This move reflects a strategic shift aimed at increasing Russia’s and BRICS’s autonomy in global trade amid broader economic changes. Russia Announces Independent Payment System with BRICS for Foreign Trade During the Russian … Read more

Russia Pushes for Sustainable BRICS Interbank Networks and Payment Systems

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Russia is pushing to develop independent interbank networks and payment systems within BRICS to boost the bloc’s financial influence. Moscow aims to expand cross-border settlements and the use of national currencies in BRICS trade, as part of a strategy to reduce dependence on Western financial institutions. These efforts have gained attention during Russia’s BRICS presidency, … Read more

BRICS to Discuss Alternative Payment Platforms at Upcoming Summit

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Russian Foreign Minister Sergey Lavrov announced that a report on alternative payment systems for BRICS nations will be presented at an upcoming summit in Kazan. The proposal, led by Brazilian President Lula da Silva, seeks to reduce reliance on traditional financial platforms. Lavrov emphasized the increasing use of national currencies in BRICS trade, particularly with … Read more