BRICS countries have already drafted preliminary recommendations for alternative payment mechanisms that allow for developing safe and reliable systems, Russian Foreign Minister Sergey Lavrov said on Saturday.
"This was on the agenda of both our summit in Kazan and the meetings of our finance ministers and central bank heads that had taken place throughout the year. Recommendations have been drafted. They are not yet final, but they already make it possible to start creating reliable, sustainable, long-term systems. I am confident that Brazil, as the next chair [of BRICS], will continue this work," Lavrov said in an interview with TV BRICS.
BRICS has set itself a task to create payment platforms that will be immune from risks connected with the US dollar, the top Russian diplomat added.
"Given that the US dollar is increasingly used as an aggressive weapon in the global economy, a parallel system is needed. No one knows who will be next. No one is safe from this arbitrariness, given the desperate position of the United States in today's world. They feel that their hegemony is slipping away, and it will be quick, but rather take a long time, so they want to use everything, including the most forbidden techniques, to preserve it," Lavrov said.
BRICS is an intergovernmental association created in 2006. Russia assumed the rotating presidency of the bloc on January 1. The year began with the accession of new members to the association. In addition to Russia, Brazil, India, China and South Africa, it now includes Egypt, Ethiopia, Iran, the United Arab Emirates and Saudi Arabia, according to the website of the Russian 2024 BRICS Chairmanship. Saudi Arabia has not reportedly formalized its participation but has been taking part in BRICS meetings.