The BRICS nations are making bold moves to reshape global financial dynamics over the coming decade. This ambitious project aims to reduce reliance on traditional Western payment systems like SWIFT and create a new framework for cross-border transactions. 🌎 🇨🇳🇧🇷🇦🇺 🇮🇳 🇲🇽 🇨🇳 🤝 🇺🇸
Russian Foreign Minister Sergey Lavrov recently confirmed that the bloc is actively developing this alternative system, designed to bypass dollar involvement in settlements.
This initiative will be open to non-member countries, making it a global alternative for those seeking to conduct trade free of US dollars. Notably, Brazil is spearheading one key proposal currently under development.