Western countries can join de-dollarization, but their objectives need to be clarified – diplomat

MOSCOW, October 25. /TASS/. Western countries may want to join the process of de-dollarization of global trade promoted by the BRICS, but it is possible they will do so for destructive purposes, said Russian Deputy Foreign Minister and BRICS Sherpa Sergei Ryabkov at a press conference after the European Union summit. the association in Kazan.

“I will not judge whether Western countries will want to join any of the models of future interaction in this area, or will try to destroy it from within, if they set themselves such a goal,” he noted.

In this regard, Ryabkov urged “not to get ahead of ourselves.” “Let us first make progress in the practical implementation of our plans,” he stressed.

Ryabkov also noted that Russia’s BRICS presidency has achieved success in developing models for phasing out the dollar and formalizing them in agreements, and is now passing the baton for implementing these ideas to Brazil.

“The next step should obviously be the implementation of these ideas (about dumping the dollar) into practical steps and patterns. It is clear that this area is extremely sensitive and poses risks associated with unlawful sanctions, including secondary sanctions. there are also solutions to protect ourselves against such measures. We turn this subject over to the Brazilians, fully convinced that the initiative has been taken; these are not just words, but the result of work embodied in agreements,” the senior diplomat explained.

The senior diplomat mentioned mechanisms such as BRICS Bridge, BRICS Clear and BRICS Reinsurance among the practical ideas that “matured during the Russian presidency and have now become part of agreements between leaders and specialists”.