The dollar and subsidies granted by international financial institutions are used "as an instrument of coercion", Russian Foreign Minister Sergey Lavrov said during a meeting of sherpas (representatives) of BRICS member countries in Moscow.
"Unilateral sanctions undermine existing, convenient and efficient value chains, undermine their development prospects, first of all in the countries of Asia, Africa and South America," he noted. However, global economic activity is shifting towards Eurasia and the Asia-Pacific region, the head of Russian diplomacy stated.
The world is turning to payments in national currencies as a more multipolar landscape emerges, Russia's foreign minister said in August. Efforts led by the United States to preserve Western domination are doomed to failure, Lavrov insisted while speaking at the 11th Moscow Conference on International Security. He accused Washington of privatizing the UN and using NATO as a barrier to ignore the agreements.