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Basics of new payment platforms founded under Russian presidency in BRICS — Lavrov

"Everybody wants to create alternative payment mechanisms, interbank settlements with the use of national currencies, and insurance mechanisms that will not be directed against the system evolved after World War II around the dollar as the linchpin," the Russian foreign minister said

MOSCOW, November 2. /TASS/. The task of creating independent payment platforms for mutual payments has the priority position in the BRICS agenda and relevant recommendations were managed to be developed during the year of Russian presidency in BRICS, Russian Foreign Minister Sergey Lavrov said in an interview for the TV BRICS.

"Everybody wants to create alternative payment mechanisms, interbank settlements with the use of national currencies, and insurance mechanisms that will not be directed against the system evolved after World War II around the dollar as the linchpin," Lavrov said.

"Such task was on the agenda of the BRICS Summit in Kazan and at meetings held throughout the year among ministers of finances, governors of central banks. Recommendations have already been developed; they are not final but already provide an opportunity to start creating reliable, resilient, and long-term systems," he added.

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Foreign policy Sergey Lavrov

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