Lavrov: BRICS agreed to establish alternative financial systems to Western ones
Arab and international
Economy News – Baghdad: Russian Foreign Minister Sergey Lavrov revealed agreements reached with BRICS countries to strengthen the group’s financial ties and move away from the dollar.
Lavrov said, “There is an agreement to work hard to form alternative financial systems, and this will be a contribution to facilitating the work of the New Development Bank of (BRICS).”
Lavrov indicated that energy issues will become more urgent after Saudi Arabia, Iran and the UAE join BRICS, and pointed out that all participants support not changing the name of BRICS after entering new countries.
Lavrov likened the “BRICS” to the football team after the joining of the six new countries, bringing the number of its members to 11, as the number of members of the football team.
This week, the city of Johannesburg in South Africa hosted the “BRICS” summit, where representatives of member states discussed strengthening economic and trade ties, and it was announced that new countries would join the group.