BRICS confirms that it has no intention of abandoning the dollar or introducing a unified currency

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The Secretary of the Brazilian Ministry of Foreign Affairs for Asia and the Pacific, Eduardo Paes Saboia, confirmed that the BRICS group has no intention of abandoning the US dollar in trade transactions between its countries.

In an interview with the French radio station RFA, Saboia pointed out that the BRICS countries hold huge amounts of dollar reserves, which makes abandoning the US currency illogical.

He explained that the goal of the ongoing discussions within the group is not to confront any external party, but rather to facilitate trade transactions within the BRICS countries themselves.

Speaking about the group’s development, Saboia noted that BRICS was founded in the wake of the 2008 global financial crisis with the aim of stimulating the global economy.

Since then, BRICS has achieved a prominent international status and has played a prominent role in many international bodies such as the G20 and the United Nations, contributing to the formulation of global economic policies.

Saboia’s remarks come at a time when the BRICS group is witnessing increasing interest from countries seeking to diversify their financial and economic instruments away from the dominance of the US dollar.

These discussions have accelerated in light of the global economic pressures that have increased in recent years.

In previous statements, former US President Donald Trump confirmed that he would impose 100% customs duties on goods imported from BRICS countries if the group decided to issue a new currency to replace the dollar.

For his part, Kremlin spokesman Dmitry Peskov commented on these threats by saying that the decline in the attractiveness of the dollar as a reserve currency has become more evident, especially with many countries around the world moving towards reducing their dependence on the dollar in their trade transactions.

BRICS continues to focus on enhancing economic cooperation among its member states, and considers that the step of establishing a unified currency or reducing dependence on the dollar won’t come within the framework of confronting any external force, but rather within the framework of enhancing its sustainable economic capabilities in a world witnessing major transformations in the fields of trade and economy.

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