Russia calls for integrating BRICS payment systems – Reuters.com
- Date: 09-Apr-2022
- Source: Reuters
- Sector:Financial Services
- Country:Middle East
Russia calls for integrating BRICS payment systems – Reuters.com
April 9 (Reuters) - Russia, hit by Western sanctions, has called on the BRICS group of emerging economies to extend the use of national currencies and integrate payment systems, the finance ministry said on Saturday.
Sanctions have cut Russia off from the global financial system and from nearly half of its gold and foreign exchange reserves, which stood at $606.5 billion in early April.
On Friday, Finance Minister Anton Siluanov told a ministerial meeting with BRICS, which consists of Brazil, Russia, India, China and South Africa, that the global economic situation had worsened substantially due to the sanctions, the ministry's statement said.
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