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BRICS, Dollar, Donald Trump, Economy, United States, Kremlin, Russia

The Kremlin pronounces on Trump's threat to Brics countries


Russia, Dec, 3.- If the United States forces other countries by force to use the dollar, it will only reinforce the trend towards the use of domestic currencies in international payments, Kremlin spokesman Dmitri Peskov said Monday.

This is how the spokesman commented on the statements of the president-elect of the United States, Donald Trump, who threatened last week to impose 100% trade tariffs on products of Brics countries if the group decides to create an alternative currency to the dollar.

"The idea that the Brics are trying to get away from the dollar while we're watching is over," the politician wrote on his Truth Social account.

If the United States uses force to force countries to use the dollar, it will probably further strengthen these trends to move to national currencies. The dollar is starting to lose its appeal for a number of countries, Peskov said.

The dollar is starting to lose its appeal as a reserve currency for a number of countries. This is a process of erosion of the attractiveness of the dollar that, in fact, is in progress and gaining momentum, he added.

A joint BRICS currency?

The idea of introducing a joint currency was discussed by the Brics member countries in August last year, during the organization's summit in Johannesburg, South Africa.

The main objective of this measure would be to reduce its dependence on the dollar and the euro. Another purpose of the joint venture would be to facilitate trade between members and the financing of specific infrastructure, industrial and other projects.

In the long term, the currency is expected to become the main means of payment and reserve currency not only within the economic bloc, but also in other countries.

However, in mid-October, Vladimir Putin clarified that the introduction of the Brics coin has not yet been raised, as the organization has to act gradually, without haste to act.

"At the moment, we are studying the possibilities of expanding the use of national currencies and creating tools that make that work secure," said the Russian president. (Text and Photo: Cubadebate)


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