Significant progress has been made toward establishing an independent BRICS payment system, Russian Deputy Foreign Minister Sergey Ryabkov said on Thursday.
"We have made important strides forward [...] The time it will take to turn the frameworks we have established into concrete action depends on us–on BRICS and the global majority," Ryabkov said after the final meeting of BRICS sherpas and sous-sherpas in the Russian city of Yekaterinburg.
The "point of no return" has already been reached, and the pace of implementation will be determined by the guidance of BRICS leaders, financial experts and diplomats, Ryabkov added.
The final meeting of the BRICS Sherpas and Sous-Sherpas takes place in Russia's Yekaterinburg from November 26 to 29.