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BRICS nations seek alternatives to US dollar — Brazilian official

According to Celso Amorim, BRICS nations continue discussions of potential payment mechanisms that the group’s members could adopt

RIO DE JANEIRO, December 17. /TASS/. BRICS member states don’t oppose the use of the US dollar in global trade but believe it is important to develop alternative mechanisms for international settlements, Celso Amorim, international affairs advisor to the South American nation’s president, said in an interview with TASS.

"Many wonder if the US dollar will be abandoned. No one is planning to do that. The United States is a big country whose economy is crucial for the entire world. However, there still needs to be an alternative," he noted.

According to Amorim, BRICS nations continue discussions of potential payment mechanisms that the group’s members could adopt. "People keep saying that BRICS should shift to trade in national currencies. Indeed, it is one of the options," the Brazilian leader’s advisor pointed out, adding: "However, all these projects are currently in the development stage."

Earlier in December, Russian President Vladimir Putin warned against the hasty creation of a single BRICS currency. According to the Russian leader, BRICS nations don’t have plans to introduce a single currency at this point. Still, in Putin’s words, the bloc’s members need to increase the use of national currencies.

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