BRICS alliance working to create its own currency, says Russian official1 min read 02 Apr 2023, 10:25 PM IST
The bloc grouping the emerging economic heavyweights Brazil, Russia, India, China and South Africa are reportedly working on their own currency - established on a strategy that ‘does not defend the dollar or euro’.
Moscow has found itself reeling under an avalanche of sanctions and restrictions as the Ukraine Russia war rages. Against this backdrop, President Vladimir Putin adopted a new foreign policy this week, identifying China and India as its main allies on the world stage. Now, the ties between the three nations (and a few others) appear poised to go a step further with the formation of a new currency.
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