Russia official says Trump's threat will not stop work on BRICS payment system, RIA reports
Despite US President-elect Donald Trump's threat to impose 100% import duties on countries undermining the dollar, work on the BRICS settlement system will continue, according to Russian Deputy Foreign Minister Alexander Pankin.
- Economy
- Agencies and A News
- Published Date: 07:55 | 06 December 2024
- Modified Date: 10:01 | 06 December 2024
Work will continue on the BRICS settlement system despite U.S. President-elect Donald Trump's threat to impose 100% import duties on countries that try to undermine the dollar, the RIA news agency cited a senior Russian official as saying on Friday.
Trump last week demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the U.S. dollar, saying they would otherwise face 100% tariffs.
RIA quoted Russian Deputy Foreign Minister Alexander Pankin as saying that BRICS was in fact working on a settlement system rather than a new international currency.
"Of course, it will continue," he said, referring to the work on the planned system.