Russia Conducts 90% of BRICS Trade in National Currencies, Kremlin Spokesperson States

According to the International Desk of Webangah News Agency, Russia is facilitating the vast majority of its trade with BRICS member countries through the use of their respective national currencies, with approximately 90% of these transactions now bypassing the U.S. dollar. Dmitry Peskov, the Kremlin’s spokesperson, clarified on Tuesday during a virtual press conference with Indian journalists that Moscow remains open to utilizing any mutually agreeable payment methods.

Peskov indicated that some nations are employing their national currencies as instruments of political pressure, though he did not specify which countries were involved. He also confirmed that President Vladimir Putin is scheduled to participate in the BRICS summit in New Delhi on September 12th and 13th. Prior to the summit, Putin will hold a bilateral meeting with Indian Prime Minister Narendra Modi on Friday, with trade and economic cooperation expected to be central themes of their discussions.

The Kremlin spokesperson further elaborated that Russia and India are exploring potential cooperation in the field of rare earth element exploration. Peskov also addressed the issue of accumulated Indian rupees within Russian companies, stating that this challenge stemming from trade in national currencies is gradually being resolved. Discussions regarding the potential sale of Russian Sukhoi Su-57 fighter jets to India are also on the agenda for bilateral negotiations.