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Putin states irreversible de-dollarization across BRICS

The president mentioned that the share of the dollar in export and import transactions within BRICS resulted in declining

JOHANNESBURG /South Africa/, August 22. /TASS/. The de-dollarization process is becoming irreversible across BRICS nations, Russian President Vladimir Putin said in a video address to participants of the BRICS Business forum.

"A balanced, irreversible process of de-dollarization of our economic ties is gaining steam, with efforts undertaken to develop efficient mechanisms of mutual settlements, as well as monetary and financing control. As a result, the share of the dollar in export and import transactions within BRICS is declining as it only equaled 28.7% last year," he said.

The Russian president announced that during the BRICS summit leaders of member states will discuss in detail the whole range of issues related to the shift to national currencies in all areas of economic cooperation.

BRICS comprises Brazil, Russia, India, China, and South Africa.

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Vladimir Putin BRICS summit

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