Basic principles of new payment platforms established under Russian presidency in BRICS – Lavrov – Russian politics and diplomacy

MOSCOW, November 2. /TASS/. The task of creating independent payment platforms for mutual payments has a priority position in the BRICS agenda and relevant recommendations have been developed during the year of Russian presidency in the BRICS, Russian Foreign Minister Sergey Lavrov said in an interview for the TV BRICS .

“Everyone wants to create alternative payment mechanisms, interbank settlements with the use of national currencies, and insurance mechanisms that will not be directed against the system that emerged after World War II around the dollar as a pivot,” Lavrov said.

“Such a task was on the agenda of the BRICS summit in Kazan and at meetings held throughout the year between finance ministers and central bank governors. Recommendations have already been developed; they are not final, but already offer an opportunity to start creating reliable, resilient and long-term systems,” he added.