Brics Currency: Analysts told whether Russia would create a dollar competitor

At the last meeting of BRICS, they discussed the creation of a new currency that should help countries avoid sanctions and abandon the dollar in their foreign economic calculations. At the meeting of the BRICS countries in Russian Kazan, in October this year, the issue of a new currency was raised, which allegedly could push the dollar in the global financial market. However, analysts doubt the realism of the idea of ​​a new currency.

Focus writes about it in the article "Five questions about the dollar: what is threatening Trump, whether the currency Brics will be and what the course will be in 2025". "In addition to the Russian Federation, this step is not needed. Brazil and China have good relations with the United States and they do not need any changes, as well as South Africa.

About India, it is a separate topic in general, since they buy Russian oil with discount, But they are in no hurry to release Russian exporters in Rs from the country. According to the analyst of Ivan Uglynitsa, the idea of ​​creating a new currency of BRics is absolutely unrealistic, and statements about it do not have any real basis, except political PR or propaganda.

"Among the basic ideas other than political ideas, it is an attempt to find some mechanism for avoiding sanctions, bypassing them, protecting yourself from confiscation of reserves, or freezing them. Reduction of other dependence on the Western financial and legal system by reducing payments in the Western banking system, using a dollar for payments . Also, the idea is that through its own currency, the capital market, the issue and so on to influence other countries, " - says Ivan Uglynitsa.

Financial analyst Andriy Shevchyshyn, in conversation with focus, shared his own opinion on the prospect of creating a new currency. "I do not believe in a single currency of BRICS. The main recipient of economic wealth and power (in this group of countries - focus) is China. Therefore, what principles should such currency work on? Who will form reserves? ? China and its currencies.

Meanwhile, Donald Trump, who will soon become the US President, recently spoke sharply about the idea of ​​creating a new BRICS currency and threatened with one hundred percent duties. Trump demands that the countries stop initiating the creation of a new currency, or the United States will impose one hundred percent duties against such countries. In addition to the Russian Federation, no one needs a new currency.

Brazil and China have good relations with the United States and they do not need any changes, as well as South Africa, according to Ivan Uglynitsa, since there is no real threat from conditional Brix to create such a currency, then Trump's threats against non-existent currency-political PR. . However, according to Vitaliy Shapran, such a message from Trump is a competent political step. "Trump does not need a new trade war, but it wants to improve trade conditions for the United States.

So it began to exploit a factor that, in addition to the Russian Federation, no one needs. Such a statement is, above all, a powerful blow to the Russian Federation and Putin's positions in Brix. Neither the Brazilian government will fight for the ghostly ideas of the Russian Federation to risk 100% of the US. "," Shapran said in a focus comment. Earlier it was reported that US President Donald Trump has not officially joined the post, but has already angry Chinese manufacturers with his promises.