BRICS to launch independent financial system – Moscow ...News

Introduction of a new single currency is also on the table, Russia’s envoy to Beijing says Countries of the BRICS economic bloc are currently working on the launch of a financial system that would be independent of the dominance of third parties, according to the Russian Ambassador to China Igor Morgulov. The volume of Russia’s transactions in national currencies with fellow BRICS nations is constantly growing, the envoy said on Saturday in Beijing, speaking at the 12th World Peace Forum (WPF). Morgulov highlighted that Russia-China trade turnover had reached $240 billion and that 92% of settlements were being co

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