Selected menu has been deleted. Please select the another existing nav menu.
=

Russia says BRICS not anti-West, blames US for weakening dollar

Lorem ipsum dolor sit amet consectetur. Facilisis eu sit commodo sit. Phasellus elit sit sit dolor risus faucibus vel aliquam. Fames mattis.

HTML tutorial

The Kremlin has rejected the portrayal of BRICS as an anti-Western bloc but mounted a sharp defence of the grouping’s growing use of national currencies, arguing that US sanctions are themselves weakening global trust in the dollar.Kremlin spokesperson Dmitry Peskov said BRICS was “against no one” and existed to advance the national interests of its members, rejecting suggestions that the grouping was emerging as a counterweight to the West.“BRICS is for BRICS members, and BRICS is for those countries who share BRICS ideology, and BRICS is not against any third party,” Peskov told Indian journalists in a virtual interaction ahead of President Vladimir Putin’s visit to India.Those portraying BRICS as an anti-Western grouping, he said, were “doing a great mistake”.Peskov’s comments came amid US President Donald Trump’s repeated criticism of BRICS as a challenge to the dollar and his warning against efforts to reduce dependence on the US currency.Russia, he said, had not adopted a formal policy of “dedollarisation” but was increasingly using national currencies because Western sanctions had restricted its access to the dollar and the euro.“Russia was deprived of the right to use the American dollar and to use euro. So, what should we do? We should tell ourselves, why don’t we use our own money?” Peskov said.He argued that the shift towards national currencies was a consequence of economic choices made by individual countries rather than an organised campaign against the US currency.“It’s not because we are against the dollar and we do not want to claim any de-dollarisation policy. We are simply doing what better corresponds with our national interests,” he said.Peskov went further, arguing that Washington’s use of the dollar as an instrument of sanctions was contributing to the erosion of its position as the world’s principal reserve currency.“I would think that it’s rather America is against the dollar as a reserve currency,” he said, arguing that a country seeking to preserve the status of its currency would not take measures that undermine confidence in it.“America is ruining trust in the US dollar, and the more trust is ruined, the more trust is going in favour of national currencies,” Peskov said.Russia, he added, had begun proposing the use of national currencies in trade with other countries because it considered the arrangement more beneficial and secure under the present circumstances.Peskov said more than 90 per cent of Russia’s payments with BRICS countries were now being conducted in national currencies, describing the trend as a natural response to the changing global financial environment.He said the process was not directed against any particular country. “Make US dollar profitable for everyone. Make US dollar more profitable than national currencies and everyone will use US dollar,” Peskov said.The Kremlin spokesperson’s comments also aligned with India’s position that BRICS should not be viewed as an anti-Western or anti-US grouping.Instead, he said, the grouping was centred on cooperation among participating countries and the pursuit of their respective national interests.“BRICS is against no one,” Peskov repeatedly stressed, while pointing to the expansion of the grouping and the increasing participation of partner countries.The comments assume significance as BRICS expands its economic and financial cooperation while its members explore alternatives to traditional dollar-based trade and payment mechanisms.The Kremlin spokesperson’s argument was that US policy itself was making alternative arrangements increasingly attractive. “The more trust is ruined, the more trust is going in favour of national currencies,” he said.Peskov’s remarks came ahead of Putin’s visit to India for the BRICS summit, where the future of the grouping, its financial cooperation and its role in the changing international order are expected to feature prominently.

HTML tutorial

Tags :

Search

Popular Posts


Useful Links

Selected menu has been deleted. Please select the another existing nav menu.

Recent Posts

©2025 – All Right Reserved. Designed and Developed by JATTVIBE.