Search results
Results From The WOW.Com Content Network
Trump on Thursday warned off BRICS member countries from replacing the U.S. dollar as a reserve currency by repeating a threat of 100% tariffs he had made weeks after winning the November ...
U.S. President-elect Donald Trump on Saturday demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the United States dollar ...
President-elect Donald Trump said he would require countries that are part of BRICS — a China- and Russia-backed group of emerging economies — to commit to not creating new currency or face ...
The 2024 BRICS summit was the sixteenth annual BRICS summit, held in Kazan, Russia. It was the first BRICS summit to include Egypt , Ethiopia , Iran , and the United Arab Emirates as members, following their accession to the organization at the 15th BRICS summit .
The member states view BRICS Pay to promote trade among its members, financial inclusion, and as a direction to reduce their reliance on the US dollar. [9] Russia has been the strongest proponent of BRICS Pay, to bypass the SWIFT network and the US dollar transactions it was sanctioned from following its invasion of Ukraine.
Some observers worry about "catastrophic" consequences from the alliance.
In a separate agreement, a reserve currency pool worth $100 billion was set up by BRICS members. [8] The president, Development Bank of BRICS Countries, Shri K.V. Kamath calls on the prime minister, Shri Narendra Modi, in New Delhi on May 28, 2015. On 11 May 2015, K. V. Kamath was appointed as the president of the bank. [9]
In their push to dethrone the U.S. dollar as the world’s largest reserve currency, the BRICS nations—or Brazil, Russia, India, China, and South Africa—have been talking up the idea of a ...