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Putin Calls For New International Payment System To Rival Dollar

The Guardian

|

October 24, 2024

Vladimir Putin opened the expanded Brics summit yesterday by issuing a call for an alternative international payments system that could prevent the US using the dollar as a political weapon.

- Patrick Wintour

Putin Calls For New International Payment System To Rival Dollar

But the summit communique indicated that little progress had been made on an alternative payment system.

Speaking at the summit in the Russian city of Kazan, Putin said: "The dollar is being used as a weapon. We really see that this is so. I think that this is a big mistake by those who do this."

He said that nearly 95% of trade between Russia and China is now conducted in rubles and yuan.

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