BRICS: Russia is agitating more and more countries to ditch the dollar

Russia, which is an important member of the BRICS alliance, has launched a campaign to promote the use of local currencies in African trade, urging countries to abandon their dependence on the US dollar.

President Vladimir Putin has advocated for African countries to accept their own currencies, including the Russian ruble, for trade transactions.

Putin emphasized Russia's commitment to helping African countries relinquish the dominant role of the US dollar in trade. He highlighted the potential role of BRICS in supporting Africa's efforts to strengthen its financial infrastructure by integrating global banking systems with local currencies. According to Putin, cross-border transactions using local currencies can bring significant benefits to Africa's economic landscape.

The BRICS coalition, which includes several influential developing countries, is actively working for encouragement of countries around the world to reduce their dependence on the US dollar in trade. There is a growing belief among some countries that BRICS can lead the world economy into a new financial era.

Putin confirmed BRICS' willingness to cooperate with Africa to diversify trade payments away from the US dollar. He emphasized the importance of switching to payments in national currencies, including rubles, for expanding the scope of trade and economic relations.

He also expressed Russia's willingness to support Africa in developing its financial infrastructure, in particular by facilitating connections between banking institutions and the Russian financial messaging system. This system enables cross-border payments independent of existing Western systems, which often impose restrictions.

These remarks come ahead of the upcoming BRICS summit in Russia, which will be held in the Kazan region in October this year. The timing of Putin's remarks underscores the importance of the issue as the BRICS countries seek to change the dynamics of global trade.