Russia official says Trump's threat will not stop work on BRICS payment system, RIA reports

St. Petersburg International Economic Forum (SPIEF)

FILE PHOTO: Russian Deputy Minister of Foreign Affairs Alexander Pankin attends a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 16, 2022. REUTERS/Anton Vaganov/File Photo

Source: X06532

Work will continue on the BRICS settlement system despite U.S. President-elect Donald Trump's threat to impose 100% import duties on countries that try to undermine the dollar, the RIA news agency cited a senior Russian official as saying on Friday.

Trump last week demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the U.S. dollar, saying they would otherwise face 100% tariffs.

RIA quoted Russian Deputy Foreign Minister Alexander Pankin as saying that BRICS was in fact working on a settlement system rather than a new international currency.

"Of course, it will continue," he said, referring to the work on the planned system.

This article was produced by Reuters news agency. It has not been edited by Global South World.

By Reuters