First BRICS summit since Egypt, Ethiopia Iran and the UAE joined the block earlier this yr. Amongst many issues on the agenda is the problem of lowering reliance on the US Greenback. Russia has additionally proposed a unified depository and clearance system for the BRICS states. That is Moscow’s newest effort to encourage member nations to broaden monetary cooperation with out the help of the west. The block additionally has the potential to ahead its de-dollarisation agenda in foreign exchange reserves and oil commerce.
#brics #dedollarisation #businessnews
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