Russia and the BRICS countries have 90% switched to settlements in national currencies

The share of national currencies in Russia's trade with the BRICS countries has reached 90%. This was announced on September 8 by Kremlin spokesman Dmitry Peskov.

"90% of all payments and transactions with the BRICS countries are made in national currencies. This is very important," Peskov said at a briefing on the eve of the BRICS summit in New Delhi, RIA Novosti quoted him as saying.

According to him, the unification states do not set themselves the goal of completely abandoning the use of the dollar. At the same time, the BRICS members are looking for alternative ways to conduct financial transactions.

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On September 7, Russian Foreign Minister Sergei Lavrov said that Russia does not oppose the use of the dollar in international settlements, but if it cannot be used, it does not intend to accept unfavorable trading conditions "for beads." The reference to beads used by the head of the Russian Foreign Ministry is related to the historical practices of the colonial era, when indigenous peoples exchanged valuable resources for cheap goods and trinkets offered by the colonialists.