Russian Foreign Minister Lavrov stated that a common BRICS currency has no prospects, as highlighted in various tweets. The idea is linked to increasing trade volumes in local FX and storing net surpluses in gold by BRICS Central Banks, rather than creating a new currency. This perspective contrasts with previous discussions on the topic.
We think Lavrov is being straight about using gold to balance trade deficits/surpluses within BRICS rather than creating a BRICS currency. Not helpful to have false expectations. We think Feb 22 is the G7 FM meeting re seizing Russia's $300B frozen reserves for Ukraine. $SA https://t.co/k1oZ5z6xOj
Russian Foreign Minister admits that there is “almost no prospect” of creating a BRICS currency. As I have been saying... https://t.co/3JCkX9QDTO
Putin effectively told everyone why a BRICS common currency has no prospects in his Tucker Carlson interview: Rapidly increasing trade volumes in local FX, being recycled into BRICS-produced goods (with any remaining net surpluses being stored in gold by BRICS Central Banks.) https://t.co/2pkkOALJLh
⬇️⬇️⬇️ RUSSIAN FOREIGN MINISTER LAVROV: COMMON BRICS CURRENCY HAS NO PROSPECTS NOW
🔴 RUSSIAN FOREIGN MINISTER LAVROV: COMMON BRICS CURRENCY HAS NO PROSPECTS NOW - TASS.