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More alternatives appear for external payments — Russia’s Chamber of Commerce

BRICS can be used as a good example of work on such alternative payment mechanisms, Sergey Katyrin said

ST. PETERSBURG, June 5. /TASS/. The situation with foreign trade payments in Russia has been deteriorating recently, but more and more alternative methods of external payments, such as an independent settlement system within the BRICS framework, are emerging, Head of the Russian Chamber of Commerce and Industry Sergey Katyrin said in an interview with TASS.

"According to our companies, the situation with foreign trade payments has deteriorated significantly recently, which leads to the emergence of a growing variety of alternative means of foreign trade payments. BRICS can be used as a good example of work on such alternative payment mechanisms," he said.

Katyrin noted that the development of an independent system of foreign trade settlements in BRICS, which would be profitable and inexpensive and would not depend on political factors, is a primary task, which becomes even more important in view of the entry of new member states into the association.

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