Kremlin Reacts To Trump's New Threat On BRICS Currency
Date
1/31/2025 3:21:23 PM
(MENAFN- Khaama Press) The Kremlin spokesperson responded to the recent threat by the US President against BRICS countries, warning them not to adopt a common currency. He stated that there has been no discussion within BRICS about creating a shared currency, but rather the focus is on developing new investment platforms.
Dmitry Peskov reminded reporters of President Vladimir Putin's previous statements, where he emphasized that BRICS is not considering a common currency. Instead, BRICS is looking into establishing joint investment platforms that would enable investments in third-party countries.
Peskov's remarks came in response to a question about whether Trump's threats could influence BRICS' commitment to expanding financial exchanges with national currencies, or whether the US could prevent BRICS from creating a new currency.
On January 30, 2025, US President Donald Trump posted another warning on his Truth Social platform, threatening BRICS countries with 100% tariffs if they abandon the US dollar as the global reserve currency.
The Kremlin spokesperson had previously commented that the use of force by the United States to pressure countries into using the dollar might only encourage more nations to use their national currencies in international trade. He noted that more countries are increasingly opting for national currencies for foreign transactions.
Earlier, Russian President Vladimir Putin also responded to Trump's tariff threat, arguing that the US dollar has lost much of its strength due to actions by political opponents during the current US administration.
Putin further explained that the dollar's influence worldwide is diminishing as the US share in the global economy decreases. As a result, new financial tools and technologies are emerging, and no one can stop these developments.
The ongoing tension between the US and BRICS countries highlights the shifting dynamics in global finance. As countries increasingly move away from the US dollar, the pressure from the US to maintain dollar dominance seems to be backfiring, pushing countries toward alternatives. The situation will likely continue to evolve, as the world explores new financial mechanisms and currencies beyond the dollar.
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