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BRICS countries to 'scale up interbank communication' — Putin

Russia has suggested that the chairmanship of Brazil and Dilma Rousseff in BRICS New Development Bank be extended, the president added

KAZAN, October 24. /TASS/. BRICS countries will "scale up interbank communication" and create mechanisms of mutual settlements in national currencies independent of external risks, Russian President Vladimir Putin told a press conference following the BRICS summit.

"BRICS countries intend to deepen partnership in the financial area. We will continue scaling up interbank communication and address the creation of mechanisms of mutual settlements in national currencies independent of external risks," he said.

Russia has suggested that the chairmanship of Brazil and Dilma Rousseff in BRICS New Development Bank be extended, Putin added.

The 16th BRICS Summit, which is the key event of Russia’s chairmanship in the association, is being held in Kazan on October 22-24. On the second day of the summit its participants passed the Kazan declaration. Among the main themes of the document are development of the association, the position on global problems, settlement of regional crises, including in Ukraine and the Middle East.

The BRICS group was founded in 2006 by Brazil, Russia, India, and China, with South Africa joining it in 2011. On January 1, 2024, Egypt, Ethiopia, Iran, Saudi Arabia, the United Arab Emirates, became its full-fledged members. The Kazan summit is the first attended by the new members of the integration.

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Vladimir Putin BRICS summit

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