Russia and India no longer need US dollar – BRICS president
The two countries have successfully established a mechanism for mutual settlements in rubles and rupees, Purnima Anand says

Russia and India don’t need the US dollar in trade, having turned to national currencies to conduct mutual settlements, BRICS International Forum President Purnima Anand told reporters on Wednesday.

“We have implemented the mechanism of mutual settlements in rubles and rupees, and there is no need for our countries to use the dollar in mutual settlements. And today a similar mechanism of mutual settlements in rubles and yuan is being developed by China,” she said.

“That means that the BRICS countries are opening up to Russia, offering the opportunity for the country to overcome the consequences of sanctions,” Anand added, as quoted by RIA news agency.

The BRICS president said mutual trade between India and Russia had grown fivefold over the past 40 years. Moscow supplies a rapidly growing volume of oil to India, and in return gets large quantities of agricultural products, textiles, medicines and other products.

Anand also noted that New Delhi considers itself a neutral party in the current sanctions war between the West and Russia, and despite sanctions pressure, will continue cooperation with Moscow “in any areas where necessary.”

“When Russia’s military operation in Ukraine began, naturally there was pressure on India to stop importing Russian oil. But the Ministry of Foreign Affairs had to reject this pressure. The Russian side was assured that supplies would not be stopped and the sanctions regime would in no way affect the relationship between our countries,” the forum head stressed.

BRICS an international socio-economic and political forum incorporating five member nations: Brazil, Russia, India, China and South Africa.

that is the perfect way to go

USA wahala

The funny thing is that 4/5th of the world currencies are peg to the dollar. The best way to escape the looming dollar crisis for any country is to remove it from dollar and peg it to gold. As a standard.

We all must stop USA hegemony.. If not one day they will invade your nation and claim you have weapons of mass destruction.

Dvdpity:
The funny thing is that 4/5th of the world currencies are peg to the dollar. The best way to escape the looming dollar crisis for any country is to remove it from dollar and peg it to gold. As a standard.

Expect the French Franc and Cefa to appreciate in value in that case. The dollar hegemony is seriously been threatened by Russia. That is one of the undisclosed aims of their SMO.

THIS ISN'T A NEW NEWS.

When you have resources then you can control anyone especially if you now have nuke weapons join am
Congo is blessed like Russia but Africa leaders are just useless that’s the reason a whole Nigeria can’t even have uninterrupted electricity, no healthcare etc.

Our Africa leaders liked to move all the citizens money to London and Paris.

This was what Gadaffi tried to do, that AU should have their own currency, AU bank and SWIFT code.
We owned the resources, we are supposed to be the ones to set the price for it just like Football team set price on their players.

Bunch of losers

seunny4lif:
When you have resources then you can control anyone especially if you now have nuke weapons join am
Congo is blessed like Russia but Africa leaders are just useless that’s the reason a whole Nigeria can’t even have uninterrupted electricity, no healthcare etc.

Our Africa leaders liked to move all the citizens money to London and Paris.

This was what Gadaffi tried to do, that AU should have their own currency, AU bank and SWIFT code.
We owned the resources, we are supposed to be the ones to set the price for it just like Football team set price on their players.

Sometimes it's not about the leaders, these western countries deliberately create troubles between different ethnic groups and race just to divide and control.

leofab:
Bunch of losers

These countries are trying to shield themselves from the evil U.S sanctions you are calling them bunch of losers. SMH

if this goes on in a larger scale, its damming t Nigeria's economic trajectory, the foreign exchange we get from selling oil in d international market won't be large enough to contain the massive need for debt servicing and social care, infrastructure and assets building, Dollar would fall due to its irrelevance and everybody would be made to pay or buy in their country currencies, and Naira being among d poorest performing currencies won't be much, depending on if we get better customers from the EU and UK pounds, but due to the volume of trade, Naira may increase over time but it can also go sideways

Kewtt:
Russia and India no longer need US dollar – BRICS president
The two countries have successfully established a mechanism for mutual settlements in rubles and rupees, Purnima Anand says

Russia and India don’t need the US dollar in trade, having turned to national currencies to conduct mutual settlements, BRICS International Forum President Purnima Anand told reporters on Wednesday.

“We have implemented the mechanism of mutual settlements in rubles and rupees, and there is no need for our countries to use the dollar in mutual settlements. And today a similar mechanism of mutual settlements in rubles and yuan is being developed by China,” she said.

“That means that the BRICS countries are opening up to Russia, offering the opportunity for the country to overcome the consequences of sanctions,” Anand added, as quoted by RIA news agency.

The BRICS president said mutual trade between India and Russia had grown fivefold over the past 40 years. Moscow supplies a rapidly growing volume of oil to India, and in return gets large quantities of agricultural products, textiles, medicines and other products.

Anand also noted that New Delhi considers itself a neutral party in the current sanctions war between the West and Russia, and despite sanctions pressure, will continue cooperation with Moscow “in any areas where necessary.”

“When Russia’s military operation in Ukraine began, naturally there was pressure on India to stop importing Russian oil. But the Ministry of Foreign Affairs had to reject this pressure. The Russian side was assured that supplies would not be stopped and the sanctions regime would in no way affect the relationship between our countries,” the forum head stressed.

BRICS an international socio-economic and political forum incorporating five member nations: Brazil, Russia, India, China and South Africa.

That's true financial independence for the BRIC nations.

But then America has to quickly recreate by true diversification, de-escalation and soft diplomacy to avoid losing global momentum.

seunny4lif:
When you have resources then you can control anyone especially if you now have nuke weapons join am

Congo is blessed like Russia but Africa leaders are just useless that’s the reason a whole Nigeria can’t even have uninterrupted electricity, no healthcare etc.

Our Africa leaders liked to move all the citizens money to London and Paris.

This was what Gadaffi tried to do, that AU should have their own currency, AU bank and SWIFT code.
We owned the resources, we are supposed to be the ones to set the price for it just like Football team set price on their players.

Very well said.

Hanibbal:


These countries are trying to shield themselves from the evil U.S sanctions you are calling them bunch of losers. SMH

so they can invade countries with reckless abandon

leofab:
so they can invade countries with reckless abandon

The country who own the dollar Is the mother of all invaders. Other invaders are learning from her

As if Russia and India are even friends sef, both are trying to be the giant in central Asia and hate each other guts

EnergyEnergy:
As if Russia and India are even friends sef, both are trying to be the giant in central Asia and hate each other guts

Go and read about Russia and India relationship,
during India - Pakistan war. You will understand. Indian will forever be loyal to Russia

babyboy4every1:

Go and read about Russia and India relationship,
during India - Pakistan war. You will understand. Indian will forever be loyal to Russia

Geopolitics and you are talking about forever loyal
It's loyalty becos of benefits, it's cos russia so easily sells arms and technology and oil to India unlike us and europe that refuse due to human rights stuffs, it's also cos of india clash with china thats why india still trying to maintain good relationahip with russia
That's why india didn't criticise russia in this ukraine conflict and therefore they getting lots of russia oil and still buying arms from russia, india drops russia, and their economy falls and they lose a key asia ally is containing china growing influence in india ocean and south asia

Both India and USSR and now Russia is deeper than anything.
Without USSR, India would have been destroyed by British and USA via Pakistan.
USA and allies funded and financed Pakistan to counter India which leads to Navy counter between USA and USSR at India ocean.

You said USA refused to sell weapons to India because of human rights then why have same USA spent billions of dollars trying to build relationships with India to counter China.
USA even offered to sell weapons to India at discount prices so that India can abandon Russia.

EnergyEnergy:
As if Russia and India are even friends sef, both are trying to be the giant in central Asia and hate each other guts