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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.
First five member states' initials in English: Formation: 16 June 2009; 15 years ago () Founded at ... BRICS pay, the BRICS Joint Statistical Publication [15] ...
The original member states of BRICS, an international organization of world economies, consisted of Brazil, Russia, India, and China. South Africa formally joined in 2010 and attended the 3rd BRICS summit.
The legal basis is formed by the Treaty for the Establishment of a BRICS Contingent Reserve Arrangement, signed in Fortaleza, Brazil, on 15 July 2014. It entered into force upon ratification by all BRICS states, announced at the 7th BRICS summit in July 2015. The objective of this reserve is to provide protection against global liquidity pressures.
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This is a list of representative leaders of BRICS states at each BRICS Summit since the group's inception in 2009. This article needs additional citations for verification . Please help improve this article by adding citations to reliable sources .
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But having BRICS pay 159 nations' replacement of USD with BRICS Unit© causing USD to be cut in Value by 50%[gold 200% double in Value] will cause Civil War in United States, which is very dangerous=pushing world into Nuclear annihilation mousetrap" Einstein warned! as well as the 2001 dark winter operation monkey pox using on Moscow and ...