Minister Lavrov called the dollar a "tool of interference and regime change", this being one of the reasons for Russia's intention to find an "alternative payment system".
Using the USD "to meet geopolitical ends" creates a risk for the "stability of the global financial system", according to Dr. Philani Mthembu, Executive Director at the Institute for Global Dialogue, an independent foreign policy think tank based in Tshwane, South Africa.
"You've seen even in the past year African countries in global fora have increasingly stated the position that they also need to find their own mechanisms to not only trade and do financial transactions denominated in dollars," Dr. Philani Mthembu adds.
As for the multipolar world order Russia promotes, Dr. Mthembu believes that "it's not necessarily about being anti-West". He explains that in such an order, "Africa's interests are better safeguarded".
"African countries and African scholars would see Africa as having more policy space in a multipolar order that permits more diversity, different political systems, different economic systems, different cultures, different belief systems, and a greater diversity of views as opposed to the period that the world is coming from," he explains.
A multipolar global architecture would work to the benefit of the EU, as well, according to the doctor, in terms of "strategic autonomy".
"BRICS has consistently been championing a multipolar world order," Dr. Mthembu underscores.
To hear what else the expert had to say, check out the entire episode of the AfroVerdict podcast, brought to you by Sputnik Africa.
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