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Putin Calls for BRICS-Wide 'Independent Settlement System' Using National Currencies
The Daily Guardian
|July 08, 2025
"The creation of an independent settlement and depository system on the BRICS platform will, it seems, make currency transactions faster, more efficient and safer," he said.
Russian President Vladimir Putin has called for expanding the use of national currencies in trade among BRICS countries and proposed the creation of an "independent settlement system" on the BRICS platform to make transactions "faster, more efficient and safer."
Speaking via video conference at the Main Plenary Session of the 17th BRICS Summit, Putin said, "It is necessary to further expand the use of national currencies in mutual settlements."
He stressed the advantages of creating an independent settlement and depository system within BRICS. "The creation of an independent settlement and depository system on the BRICS platform will, it seems, make currency transactions faster, more efficient and safer," he said.
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