Russia vows to advance BRICS payment system despite Trump's import duty threat

gazette.com — December 6, 2024 at 05:01 AM UTC

Russia plans to continue developing the BRICS settlement 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 stated that the BRICS initiative focuses on a settlement system, not a new currency.

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