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BRICS Slashes US Dollar and Euro Transactions to Below 30%

[Oct 12 3:30 AM] BRICS nations are increasingly using national currencies, with 65% of transactions now conducted in local currencies, according to a Russian finance official. The U.S. dollar and euro account for less than 30% of payments among member states…

Russian Finance Minister: Western Policies Hurt the US Dollar

[Oct 11 9:30 PM] Russian Finance Minister Anton Siluanov believes that the policies of the US and its Western allies are affecting the role of the U.S. dollar as a reserve currency. Siluanov stated that while the U.S. dollar will remain popular, the BRICS bloc will…

BRICS Nations Set for 4.4% Growth in 2024-2025, Outpacing G7 Economies

[Oct 11 6:30 AM] Russian Finance Minister Anton Siluanov has emphasized the rising influence of BRICS nations during a recent event, noting their projected economic growth of 4.4% in 2024-2025, compared to 1.7% for G7 countries. Siluanov highlighted BRICS’…

Russian Finance Minister Discloses That Over 90% of Bilateral Trade With China Is Settled Outside the U.S. Dollar System

[Aug 20 5:30 PM] Anton Siluanov, the Russian Finance Minister, pointed out that a majority of the bilateral trade with China is being conducted outside the U.S. dollar system. He stressed that over 90% of these transactions have been completed using national…

Russia to Clarify Cryptocurrency Mining Gray Areas, Including Payments

[Mar 27 2:00 AM] Anton Siluanov, the finance minister of Russia, is prepared to discuss the gray areas surrounding cryptocurrency mining and the use of its proceeding for payments. In a recent lecture, Siluanov stated that the government needed to agree “on…

Russia Discusses Testing Digital Ruble for Budget Payments

[Mar 27 12:00 AM] The Central Bank of Russia and the Russian treasury are considering testing using the Russian CBDC, the digital ruble, to complete budget settlements. The tests would involve using this CBDC to make payments to businesses and citizens and receiving…

Russia Hints at Development of CBDC-Based BRICS Bridge Payments System

[Feb 27 4:30 PM] Russia has proposed the development and implementation of a BRICS-wide payment system that would use central bank digital currencies (CBDCs) to manage trade settlements. The BRICS bridge, as referred to by Russian Finance Minister Anton Siluanov…

Russian Finance Minister Talks Dollar Attack on Russia, Importance of Developing Alternatives for Settlements

[Jun 7, 2023 4:00 AM] Russian Finance Minister Anton Siluanov has given his opinion on the perceived attack the Russian economy has been receiving from the U.S. dollar, and how the country has moved to keep trade going. Siluanov also remarked on the importance of…