BRICS nations tackle dollar weaponization and financial system flaws

BRICS nations tackle dollar weaponization and financial system flaws Bruno Martarello De Conti of the University of Campinas highlights the importance of BRICS amid the dysfunctionality of the current international monetary and financial system, particularly the dominance of the US dollar and its use as a geopolitical weapon. “It’s really necessary for the BRICS to construct alternatives for the use of the dollar So it can be done through the usage of local currencies for bilateral trade as Russia is doing with China for instance. But also this idea of developing a BRICS currency is a good idea,” De Conti told Sputnik on the sidelines of the World Youth Festival in Russia’s Sirius. De Conti also advocates for the creation of a new international payment system to reduce the reliance on platforms like SWIFT, which can be weaponized. This transition, although complex, is crucial to ensure financial stability and sovereignty for the Global South and BRICS nations. Subscribe to [club80289214|@SputnikInt] Источник: Sputnik International