- Russia hopes the upcoming BRICS summit will produce a consensus declaration enabling nearly 90% of member trade to settle in local currencies.
- Kremlin spokesperson Dmitry Peskov stressed that using national currencies is not a de-dollarization policy but a matter of national interest, while criticizing US sanctions.
- The 18th BRICS summit is scheduled for September 12–13, 2026, in New Delhi, where India is expected to propose linking local currencies to a CBDC network.
Russia is pushing for a landmark agreement at the next BRICS summit, aiming to have member nations settle nearly 90% of their trade in local currencies. Kremlin spokesperson Dmitry Peskov said “Use of national currencies is not a de-dollarisation policy. We’re simply doing what is better for national interests.”
He also lashed out at US sanctions, stating “If they don’t let us use their money, we use our own money.” Peskov cautioned that BRICS must resist political pressure and prioritize local currencies at the summit, demonstrating what a fair, multipolar world should look like.
Meanwhile, Peskov acknowledged growing contradictions between member nations Iran and the UAE. “Understandably, there are contradictions in their positions,” he said, adding that Russia is ready to negotiate and contribute to normalization of ties.
The 18th BRICS summit will be held in New Delhi, India, on September 12 and 13, 2026. India is expected to discuss linking local currencies to the CBDC network, an idea proposed by the Reserve Bank of India in January 2025.
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