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Russia Signals Progress on BRICS Currency to Challenge US Dollar Dominance
Russia Signals Progress on BRICS Currency to Challenge US Dollar Dominance
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Russia has confirmed active development of a BRICS common currency, with President Vladimir Putin previously showcasing a prototype during the Kazan summit. The initiative aims to reduce global reliance on the US dollar, though operational details remain confidential.
Russian Foreign Minister Sergey Lavrov told Brazilian outlet O Globo that the currency will launch once technical and geopolitical conditions are met. "The timeline depends on completing all necessary preparations," Lavrov stated, acknowledging growing distrust of the dollar among emerging economies beyond the BRICS alliance.
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