Russia to proceed with BRICS payment system despite Trump's import duty threat

Russia plans to continue developing the BRICS payment system despite U.S. President-elect Donald Trump's recent threat of 100% import duties on countries undermining the dollar. Trump had urged BRICS nations to avoid creating or supporting an alternative currency to the U.S. dollar. Russian Deputy Foreign Minister Alexander Pankin clarified that BRICS is focused on a settlement system, not a new international currency.