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Russian financial messaging system open for connecting BRICS banks — Putin

Vladimir Putin noted that despite all problems and difficulties, BRICS businesses have been "consistently enhancing mutually beneficial ties in the areas of trade, finance, and investment"

MOSCOW, June 22. /TASS/. Russian President Vladimir Putin said that the Russian financial messaging system is open to connecting banks from the BRICS countries.

"Together with BRICS partners, we are developing reliable alternative mechanisms for international settlements. The Russian Financial Messaging System is open to connection with the banks of the BRICS countries. The Russian MIR payment system is expanding its presence. ¬¬We are exploring the possibility of creating an international reserve currency based on the basket of BRICS currencies," the Russian leader said.

Putin noted that despite all problems and difficulties, BRICS businesses have been "consistently enhancing mutually beneficial ties in the areas of trade, finance, and investment". "For example, in the first three months of this year, trade between the Russian Federation and the BRICS countries increased by 38% - and reached $45 bln," he said.

At the same time, Putin noted, "Contacts between Russian business circles and the business community of the BRICS countries have intensified. For example, negotiations are underway to open Indian chain stores in Russia, increase the share of Chinese cars, equipment, and hardware on our market. In turn, Russia’s presence in the BRICS countries is growing. There has been a noticeable increase in the exports of Russian oil to China and India.".

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