Search results
Results from the WOW.Com Content Network
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 Donald Trump on Thursday warned off BRICS member countries from replacing the U.S. dollar as a reserve currency by repeating a 100%-tariffs threat he had made weeks after winning the ...
Using BRICS currencies and banking networks outside the US dollar-denominated system could allow member countries such as Russia, China and Iran to circumnavigate Western sanctions. But the ...
Dedollarisation refers to countries reducing reliance on the U.S. dollar as a reserve currency, medium of exchange or as a unit of account. [1] It also entails the creation of an alternative global financial and technological system in order to gain more economic independence by circumventing the dependence on the Western World-controlled systems, such as SWIFT financial transfers network for ...
WASHINGTON − President-elect Donald Trump threatened the BRIC group of emerging-market nations on Saturday, warning that he would impose 100% tariffs if they make any moves to undermine the U.S ...
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.
President Donald Trump attempted to renew his threat against a bloc of nine nations in case they tried to undermine the US dollar. The US president wrote on the social media platform: “The idea ...
The establishment of a development bank will simplify mutual settlement and lending operations among BRICS countries, reducing dependence on the US dollar and the Euro, and therefore, BRICS leaders agreed to set up a Development bank at the 5th BRICS summit held in Durban, South Africa on 27 March 2013. [7]