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BRICS needs its own financial 'cardiovascular system' — Russian MFA

"It is clear already at the current stage that without going 'digital' in this sphere, we will remain vulnerable to hostile encroachments on our trade and our economic interaction from outside," Russia’s Deputy Foreign Minister Sergey Ryabkov said

MOSCOW, April 25. /TASS/. The BRICS countries need to create an independent system in the sphere of the economy and finance, and some good results in this area can be achieved already by the group’s summit in Kazan, Russia’s Deputy Foreign Minister Sergey Ryabkov has said.

"We certainly need an independent 'cardiovascular system' in the sphere of economy and finance to enhance our immunity. This is something we are working on. The foreign ministries are involved in this word, and I expect [that] we will approach [the summit in] Kazan with good results," said Ryabkov, Russia Sherpa in BRICS, at a news conference on the priorities of Moscow’s presidency of the association.

"It is clear already at the current stage that without going 'digital' in this sphere, we will remain vulnerable to hostile encroachments on our trade and our economic interaction from outside. Yes, we have sharply increased and continue to increase the share of national currencies in mutual settlements, but this is not enough," he added.

On January 1, 2024, Russia took over the rotating presidency of the BRICS group. It will last until the end of the year and include more than 200 diversified activities. The summit of the BRICS heads of state in October 2024 in Kazan will be the central event.

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Foreign policy BRICS Sergey Ryabkov

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