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Brazil Pushes BRICS to Shift From US Dollar, Advocating National Currencies in Global Trade

[Oct 17, 2024 1:30 AM] Brazil pushes for a shift away from the U.S. dollar within the BRICS alliance, advocating for more use of national currencies in trade among member countries. As the group expands, discussions on alternative payment platforms are gaining momentum…

BRICS to Discuss Alternative Payment Platforms at Upcoming Summit

[Sep 24, 2024 12:30 AM] 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…

Lavrov Says He Agrees With Donald Trump on US Sanctions Weakening Dollar’s Status

[Sep 23, 2024 3:30 AM] Russian Foreign Minister Sergey Lavrov has backed former U.S. President Donald Trump’s remarks about the negative effects of U.S. sanctions on the dollar and the American economy. Lavrov agreed that sanctions imposed by the Biden…

BRICS Payment Platforms Gain Momentum as US Dollar Alternatives, Says Russian Official

[Sep 17, 2024 1:30 AM] BRICS’ new payment platforms, which offer alternatives to the U.S. dollar and euro, are attracting global attention, according to Russian Foreign Minister Sergey Lavrov. These systems enable countries to conduct economic activities without…

Head of the State Duma’s Financial Market Committee: National Digital Currencies to Be Considered for Bilateral Settlements Between China and Russia

[Sep 5, 2024 10:30 PM] Anatoly Aksakov, head of the State Duma’s Financial Market Committee, has discussed the use of national digital currencies for bilateral settlements between Russia and China. In a recent interview with Russian media, Aksakov stated that these…

Russian Foreign Minister States Barter Trade Is Under Consideration for Bilateral Settlements With China

[Sep 3, 2024 4:35 PM] Russian Foreign Minister Sergey Lavrov has emphasized that a barter trade system could be organized with China to overcome the current settlement problems. Lavrov noted that a similar system was studied by Brazil’s Lula outside the BRICS…

Lavrov Highlights 30 Nations’ Interest in BRICS as China-Saudi Pact Poses Challenge to US Dollar

[Dec 27, 2023 4:30 PM] In a recent statement by Sergey Lavrov, Russia’s Foreign Affairs Minister, he noted that the BRICS bloc is set to expand in 2024 with new members including the United Arab Emirates (UAE), Iran, and Saudi Arabia. He revealed that approximately…

Latam Insights: Brazil’s Lula Pushes for BRICS Currency; Binance Drops Card Programs

[Aug 28, 2023 5:30 AM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Brazil’s President Luiz Inacio Lula Da Silva pushes to issue a BRICS common currency, Binance drops…

Russian Foreign Minister Sergey Lavrov: BRICS Is Focused on Reducing Dependence on US-Controlled System

[Aug 26, 2023 12:30 AM] Russian Foreign Minister Sergey Lavrov has declared that the actions of the BRICS bloc, integrated by Brazil, Russia, India, China, and South Africa, are focused on reducing dependency on the economic system managed by the U.S. and its Western…

Putin and Ramaphosa Discuss BRICS Summit, Trade and Cooperation; Russian President to Join via Video Link

[Aug 9, 2023 4:00 PM] Russian president Vladimir Putin and South African president Cyril Ramaphosa recently addressed cooperation, trade, and preparations for the upcoming BRICS summit. The two leaders conversed about practical cooperation and the expansion of the…

Economist Jim Rickards States BRICS Currency Will Leverage Gold to ‘Destroy the Dollar’

[Jul 24, 2023 10:30 PM] Jim Rickards, economist and best-selling author, has explained the possible repercussions of issuing a BRICS bloc currency for the dollar. For Rickards, the “bric” (the name he gives to the BRICS currency) will be anchored (but not…

‘Historic’ BRICS Summit to Be Held Without Putin in Person

[Jul 20, 2023 1:30 PM] Russian President Vladimir Putin will not travel to Johannesburg for the BRICS summit in August, according to the office of his South African counterpart. Moscow will send Foreign Minister Sergey Lavrov instead, the Kremlin confirmed, emphasizing…

Venezuela to Integrate Russian Mir Payments System in De-Dollarization Push

[Jun 24, 2023 3:30 PM] The government of Venezuela has announced that it is currently working to integrate Mir, a Russian electronic card and transfer payments system. President Nicolas Maduro backed this integration, stating that this move is part of a de-dollarization…

De-dollarization Has Already Started, Says Russia’s Foreign Minister Lavrov

[May 21, 2023 1:30 PM] The process of de-dollarization has practically started, according to Russian Minister of Foreign Affairs Sergey Lavrov. Moscow’s top diplomat is convinced that Russia’s position on the matter is shared by many other countries while the West is…

Push to Use National Currencies in SCO Cannot Be Stopped, Russia’s Lavrov Says

[May 6, 2023 7:30 AM] Efforts to transition to trade in national currencies in the Shanghai Cooperation Organization (SCO) can no longer be stopped, according to Russian Foreign Minister Sergey Lavrov. During a meeting with his colleagues in India, Moscow’s top diplomat…

Latam Insights: Argentine Peso Plunges, Venezuela and Russia to Develop SWIFT Alternative, Bitcoin Mining Still Paused in Venezuela

[Apr 24, 2023 3:00 AM] Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: the Argentine Peso plunges against the U.S. dollar, Venezuela and Russia agree to develop a…

Russian Foreign Minister Sergey Lavrov Explains ‘Multipolar’ World View in Brazil

[Apr 18, 2023 11:30 PM] Sergey Lavrov, the Russian foreign minister, started his tour of Latin America on April 17, landing first in Brasilia to hold high-level talks with Brazilian President Luiz Inacio ‘Lula’ da Silva and Brazilian Foreign Minister Mauro…