BRICS Makes Huge Announcement On New Payment System
The BRICS alliance is looking to undo the dominancy of the US dollar by launching a new payment system. The next decade could see a paradigm shift in the way countries settle cross-border transactions. Global trade could experience revolutionary changes where the US dollar will not be needed to settle payments. Also Read: BRICS: When Barack Obama Predicted the US Dollar’s Future Russian Foreign Minister Sergey Lavrov confirmed that the BRICS alliance is working on the formation of a new payment system. The upcoming payment mechanism is different and could take the financial markets by storm. Also, the US dollar will have no role in international transactions and the majority of trade deals could be settled in different payment methods. Also Read: De-Dollarization: China Dumps $23 Billion Worth of US Dollars New BRICS Payment System Will Be Open To All Countries Source: iStock Lavrov revealed that the BRICS alliance is working on the formation of a new payment system where all countries...