٠٠:٠٧:٠٢Russian President Vladimir Putin said at a meeting with heads of leading BRICS media in Moscow Region on Friday that the association is 'not considering' the creation of a single currency, but is working to expand the use of national currencies.
"As for the BRICS single currency, we are not considering this issue at the moment. It’s too early to discuss that. We need to be very careful. We should take one step at a time, we shouldn't rush. At the moment, we are studying the possibilities of expanding the use of national currencies and creating instruments that will help us achieve this safely," the head of state pointed out.
The Russian leader also revealed that the share of national payments using Russia and China’s currencies has reached 95 per cent.
"By the way, we use the yuan in settlements with other countries, which strengthens the yuan as an international monetary unit," Putin added.
The 16th BRICS Summit is scheduled for October 22-24. Leaders from more than 24 countries are expected to attend, with Russia's closest neighbours and partners in the Eurasian Economic Union and Commonwealth of Independent States also invited. Russia has chaired BRICS since January 1, 2024.
'We shouldn’t rush' - Putin says BRICS not yet considering single currency but expanding national currency use, creating instruments
Russian President Vladimir Putin said at a meeting with heads of leading BRICS media in Moscow Region on Friday that the association is 'not considering' the creation of a single currency, but is working to expand the use of national currencies.
"As for the BRICS single currency, we are not considering this issue at the moment. It’s too early to discuss that. We need to be very careful. We should take one step at a time, we shouldn't rush. At the moment, we are studying the possibilities of expanding the use of national currencies and creating instruments that will help us achieve this safely," the head of state pointed out.
The Russian leader also revealed that the share of national payments using Russia and China’s currencies has reached 95 per cent.
"By the way, we use the yuan in settlements with other countries, which strengthens the yuan as an international monetary unit," Putin added.
The 16th BRICS Summit is scheduled for October 22-24. Leaders from more than 24 countries are expected to attend, with Russia's closest neighbours and partners in the Eurasian Economic Union and Commonwealth of Independent States also invited. Russia has chaired BRICS since January 1, 2024.
Russian President Vladimir Putin said at a meeting with heads of leading BRICS media in Moscow Region on Friday that the association is 'not considering' the creation of a single currency, but is working to expand the use of national currencies.
"As for the BRICS single currency, we are not considering this issue at the moment. It’s too early to discuss that. We need to be very careful. We should take one step at a time, we shouldn't rush. At the moment, we are studying the possibilities of expanding the use of national currencies and creating instruments that will help us achieve this safely," the head of state pointed out.
The Russian leader also revealed that the share of national payments using Russia and China’s currencies has reached 95 per cent.
"By the way, we use the yuan in settlements with other countries, which strengthens the yuan as an international monetary unit," Putin added.
The 16th BRICS Summit is scheduled for October 22-24. Leaders from more than 24 countries are expected to attend, with Russia's closest neighbours and partners in the Eurasian Economic Union and Commonwealth of Independent States also invited. Russia has chaired BRICS since January 1, 2024.