Russia’s agreements with BRICS in national currencies more than tripled to 85%. In this respect RIA News said Elvira Nabiullina, Governor of the Central Bank of Russia.
According to him, the share of BRICS countries in Russia’s trade balance was 40 percent.
“It has become much larger. Now this rate is around 40 percent. In 2022, this rate was less than 30 percent, and in 2021 it was about 20 percent,” said the head of the Central Bank of the Russian Federation.
Nabiullina explained that the main currency in settlements between the Russian Federation and the union countries is national currencies, including the ruble.
“Their share is currently around 85 percent. “Two years ago, this rate was 26%,” he said.
In addition, Nabiullina emphasized that the Russian side is discussing with other BRICS countries the interaction of national financial message transmission systems. 159 foreign participants from 20 countries have already connected to the Russian platform.
Elvira Nabiullina is also one of the BRICS countries in 2024. will focus about payment systems and the interaction of payments in national currencies.
Russian Federation from January 1, 2024 started Presidency of BRICS. Five new members of the association will begin working full-time with the organization this year: Egypt, Iran, United Arab Emirates, Saudi Arabia and Ethiopia.
Previously West accepted The economic power of BRICS is under threat.