Putin Pushes New Payment System for BRICS

Russian President Vladimir Putin has unveiled a major initiative to develop a new payment system for BRICS members, aimed at reducing their reliance on the US dollar and strengthening trade within the bloc.

The proposal, which was announced during the BRICS Summit in New Delhi, seeks to create a new infrastructure for payment, settlement, and depository services that would be independent of external financial pressure.

Putin emphasized the need for greater use of independent trade and banking channels as BRICS expands its economic influence. The move could potentially challenge the dominance of the US dollar in global trade.