TNT
CandyKisses:
BRICS Adopts Non-Dollar Payment System
Mawazine News-Baghdad
The BRICS Group is on the move to expand non-dollar payments, as Group countries seek to move away from the U.S.-controlled SWIFT banking system.
The group’s plans, which include Russia, China, Brazil, South Africa, India, Saudi Arabia, the UAE, Egypt and Ethiopia, include the creation of an international BRICS Pay payment system based on blockchain technology, i.e., based on digital assets.
It will be possible to overcome Western sanctions and obstacles thanks to this decentralized mechanism, which will include multiple currencies, and the mechanism will contribute to strengthening the economic influence of the BRICS group and accelerating the emergence of a supranational currency, which is a direct threat to the position of the US currency.
A major goal of the BRICS countries is to move away from the dollar and use national currencies in business transactions. It should be noted that 95% of trade transactions between Russia and China are in rubles and yuan.
“All of this enhances the ability to repay and strengthens economic resilience to uncertainty, uncertainty and external shocks,” says Shin Yi, head of the BRICS Research Center at Fudan University’s Development Research Institute of China.
The idea of the mechanism revolves around the creation of a special platform based on digital currencies in the countries of the “BRICS” to implement financial settlements, which will break the monopoly of the Western “SWIFT” system of financial operations around the world, and a few days ago, Russian Assistant President Yuri Ushakov revealed the intention of the “BRICS” countries to create a payment system based on digital currency technology.
With the US dollar used as a tool in sanctions and the arrival of U.S. public debt at an astronomical level, countries in the world, led by the BRICS countries, are increasing the use of national currencies in international trade.
Advertisement
______________________________________________________
Tishwash:
Sanad: Washington is blackmailing Baghdad with dollars, and the Sudanese government must end the sanctions file
Independent MP Mustafa Sanad called on the government of Muhammad Shiaa al-Sudani to expedite discussions on removing foreign forces.
Sanad said in a televised interview followed by Mawazine News: “The Iraqi government must strongly adopt the Iraqi files, and the most important of these files are the foreign presence file and the banking file, stressing that there are Iraqi banks that were contributing to the activity of the economic cycle and were closed by Washington.”
He added, “The existence of some violations among these banks does not require closing them and assigning Jordanian or Gulf banks to carry out their work, and this is considered the biggest mistake.”
He pointed out that “the US Federal Reserve has reduced the pumping of dollars to Iraq in the recent period, and we hope that this file will be discussed during the Sudanese’s upcoming visit to Washington.” link
Source: Dinar Recaps
______________________________________________________
If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © Dinar Chronicles
