BRICS Nations Advance Independent Payment Instruments

BRICS Nations Advance Independent Payment Instruments

TEHRAN (Tasnim) – Russian Sherpa in BRICS, Sergey Ryabkov, confirmed that consultations are ongoing regarding the establishment of robust payment instruments within the BRICS framework, independent of Western systems, and a secure platform for cross-border settlements.

Ryabkov who is also the Russian Deputy Foreign Minister made this announcement during a press conference following the BRICS summit in Johannesburg, according to Sputnik news.

Ryabkov stated that if any Western country were to cease its sanctions policy and express interest in joining BRICS, the application would be considered.

He emphasized that if a Western nation found BRICS appealing and decided to refrain from applying sanctions against any BRICS member state, it could submit an application, which would be reviewed according to established procedures.

Furthermore, Ryabkov disclosed that Turkish Foreign Minister Hakan Fidan plans to visit Russia, highlighting the continuation of diplomatic exchanges between the two nations.

Regarding the New Development Bank of BRICS, Ryabkov clarified that the bank had not declined financing Russian projects. Rather, difficulties had arisen due to Western sanctions. Ryabkov noted that Russia perceives the new leadership of the bank as being interested in finding innovative solutions to address this challenge. He also affirmed Russia’s commitment to removing obstacles hindering collaboration with the BRICS bank.

Source: Tasnim News