BRICS nations make the first move with local currencies
13 years, 11 months ago

BRICS nations make the first move with local currencies

The Hindu  

The BRICS nations inked a pact to use their own currencies instead of the U.S. dollar in issuing credit or grants among each other and pushed for the early conclusion of an India-initiated U.N. comprehensive anti-terror law. “Our designated banks have signed a framework agreement on financial cooperation, which envisages grant of credit in local currencies and cooperation in capital markets and other financial services,” Prime Minister Manmohan Singh said at a news conference here on Thursday. The joint declaration in this respect said: “Recognising that the international financial crisis has exposed the inadequacies and deficiencies of the existing international monetary and financial system, we support the reform and improvement of the international monetary system, with a broad-based international reserve currency system providing stability and certainty.” “The era demands that the BRICS countries strengthen dialogue and cooperation,” said Mr. Hu. At a press briefing, Manbeer Singh, Secretary in the Ministry of External Affairs, said: “We want a broad-based international reserve currency system and change in the rubrics of the international monetary and economic governance. We are looking for a substitute, not an alternative.” On the anti-terror law, the declaration reiterated the BRICS' “strong condemnation of terrorism in all its forms and manifestations and stress that there can be no justification, whatsoever, for any acts of terrorism.” It said, “In this context, we urge early conclusion of negotiations in the U.N. General Assembly of the Comprehensive Convention on International Terrorism and its adoption by all Member-States.” The proposed treaty criminalises all forms of terror but was stalled due to differences over the definition of the word terrorism.

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History of this topic

Jaishankar: Brics represents common concerns, not dollar undermining
4 days, 5 hours ago

Jaishankar: Brics represents common concerns, not dollar undermining

Firstpost  

External Affairs Minister S Jaishankar fiercely supported Brics in Parliament, stating that it represents its members’ common concerns and tries to make global discussions and leadership more representative and inclusive As US President Donald Trump declares war on Brics, threatening it with 100% tariffs for undermining the dollar’s hegemony, India emphasises its position as a founding member of the organisation, …

BRICS vows ’won’t stop’ de-Dollarization efforts despite Donald Trump’s 100 % tariff warning
3 weeks, 5 days ago

BRICS vows ’won’t stop’ de-Dollarization efforts despite Donald Trump’s 100 % tariff warning

Live Mint  

Brazil's President Lula da Silva has said that BRICS is committed to ending US Dollar dominance “no matter what”. The Brazil President was heard saying, "US President Donald Trump's threats of tariffs won't stop the group's determination to seek alternative platforms for payments between member countries." In January, US President Donald Trump had issued a stern warning to BRICS nations, …

'Find another sucker nation': Trump threatens Brics with tariffs again. What's at stake for India?
1 month, 3 weeks ago

'Find another sucker nation': Trump threatens Brics with tariffs again. What's at stake for India?

Firstpost  

In recent years, Brics has become one of the most economically powerful groups. Two of its member states are among the top five largest economies in the world A week after assuming the presidency, US President Donald Trump reiterated his tariff threat to Brics nations, which comprises Brazil, Russia, India, China and South Africa along with other newly appointed countries. …

‘Say goodbye to America, find another s****r’: Trump threatens 100% tariffs on India, BRICS for ditching US dollar
1 month, 3 weeks ago

‘Say goodbye to America, find another s****r’: Trump threatens 100% tariffs on India, BRICS for ditching US dollar

Live Mint  

US President Donald Trump on Thursday cautioned BRICS nations against replacing the US dollar as the reserve currency, reiterating a threat of 100% tariffs he had made shortly after winning the November presidential elections. "We are going to require a commitment from these seemingly hostile Countries that they will neither create a new BRICS Currency, nor back any other Currency …

De-dollarisation not our policy or strategy: India after yet another Trump threat to BRICS
1 month, 3 weeks ago

De-dollarisation not our policy or strategy: India after yet another Trump threat to BRICS

New Indian Express  

NEW DELHI: India on Friday reaffirmed that de-dollarisation is neither its policy nor strategy, after President Donald Trump again warned BRICS countries against replacing the US dollar as a reserve currency, reiterating a threat of 100% tariffs he had made earlier. “On de-dollarisation, the External Affairs Minister has made it clear that we don’t have any policy or strategy in …

Trump threatens 'hostile' BRICS against replacing US dollar: Find another sucker
Top News
1 month, 3 weeks ago

Trump threatens 'hostile' BRICS against replacing US dollar: Find another sucker

India Today  

US President Donald Trump fired another warning shot at the BRICS bloc, of which India is a part, threatening to impose 100 per cent tariffs if they attempt to replace the US dollar with an alternative currency. "We are going to require a commitment from these seemingly hostile countries that they will neither create a new BRICS currency, nor back …

De-dollarization debate: The US-led West should rethink its dollar diplomacy
3 months, 2 weeks ago

De-dollarization debate: The US-led West should rethink its dollar diplomacy

Live Mint  

Amid the recent maelstrom of political news was an important development for the future of technology-enabled public money. Conceived in 2022 as a clearing-house for central-bank digital currencies, mBridge had anchored the BIS’s own work towards a global interbank settlement system to connect CBDCs beyond the control of any single government. It was intermediated private money that exported Western rules …

'No proposal to have BRICS currency': Jaishankar reacts to Trump's 100 per cent tariff warning
3 months, 2 weeks ago

'No proposal to have BRICS currency': Jaishankar reacts to Trump's 100 per cent tariff warning

India TV News  

External Affairs Minister Dr S Jaishankar on Saturday said that BRICS countries do not intend to weaken the US dollar and India has never been for de-dollarisation. His statement came in response to US President-elect Donald Trump's recent threats of imposing a 100 per cent tariff if BRICS countries went ahead with plans for a common currency. He threatened the …

On Trump's tariff threat, Jaishankar says India never for de-dollarisation
Top News
3 months, 2 weeks ago

On Trump's tariff threat, Jaishankar says India never for de-dollarisation

India Today  

External Affairs Minister S Jaishankar on Saturday responded to President-elect Donald Trump's threat to impose a 100 per cent tariff on Brics countries, saying that India has no intentions of weakening the US dollar. Jaishankar's remarks came a week after Donald Trump posted on his Truth Social platform, seeking a commitment from Brics nations that they would not create a …

Jaishankar responds to claims of Brics undermining US dollar amid Trump's 100% tariff threat
3 months, 2 weeks ago

Jaishankar responds to claims of Brics undermining US dollar amid Trump's 100% tariff threat

Firstpost  

At a recent Brics summit in Kazan, Russia proposed “BRICS Pay,” a payment system akin to SWIFT and India’s Unified Payments Interface. The system aims to facilitate seamless cross-border payments in native currencies like the ruble, yuan, rupee, real, and rand Indian External Affairs Minister S Jaishankar said Brics bloc is not looking to create a rival to the US …

Why is Donald Trump threatening Brics members against de-dollarisation?
Top News
3 months, 3 weeks ago

Why is Donald Trump threatening Brics members against de-dollarisation?

Firstpost  

Donald Trump has demanded that Brics members promise not to create a new currency or support another currency to replace the United States dollar as the world’s reserve currency. Trump has demanded that Brics member nations promise not to create a new currency or support another currency to replace the United States dollar. “We require a commitment from these countries …

Mint Quick Edit | De-dollarization: Trump should target crypto, not Brics
3 months, 3 weeks ago

Mint Quick Edit | De-dollarization: Trump should target crypto, not Brics

Live Mint  

India has stayed off US President-elect Donald Trump’s target range so far, but Brics was the focus of his latest finger-wag. On Saturday, he asked the group’s members to commit that “they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar", or else “they will face 100% Tariffs and should expect …

Trump’s threat of 100% tariffs unrealistic; India should focus on local currency trading:GTRI
3 months, 3 weeks ago

Trump’s threat of 100% tariffs unrealistic; India should focus on local currency trading:GTRI

Live Mint  

New Delhi, Dec 1 The warning of US President-elect Donald Trump to BRICS countries to impose 100 per cent customs duties if the BRICS group would replace the US dollar is unrealistic, and India should focus on developing a workable local currency trading system, think tank GTRI said on Sunday. "Trump's threat to impose 100 per cent tariffs on countries …

'Go find another sucker': Trump's message to BRICS members, which includes India
3 months, 3 weeks ago

'Go find another sucker': Trump's message to BRICS members, which includes India

Hindustan Times  

Donald Trump, the next president of the United States, said on Saturday that BRICS countries can ‘go find another sucker’ if they cannot commit that they will neither create a new currency of their own, nor back any other currency “to replace the mighty US Dollar”. US President-elect Donald Trump Formed in 2009, BRICS is an intergovernmental organisation comprising nine …

Trump Warns BRICS Countries Of 100% Tariffs If They Replace US Dollar
3 months, 3 weeks ago

Trump Warns BRICS Countries Of 100% Tariffs If They Replace US Dollar

ABP News  

President-elect Donald Trump on Saturday warned BRICS countries against any move to replace the US dollar and has sought a commitment from the nine-member group that includes India, Russia, China, and Brazil. “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” the president-elect said in a post …

Trump threatens BRICS nations with 100 per cent tariff against replacing US Dollar
Top News
3 months, 3 weeks ago

Trump threatens BRICS nations with 100 per cent tariff against replacing US Dollar

India TV News  

President-elect Donald Trump on Saturday warned BRICS countries against any move to replace the US dollar. He threatened the member countries of 100 per cent tariff imposition for such an attempt while seeking a commitment from the nine-member group that includes India, Russia, China, and Brazil. “We require a commitment from these Countries that they will neither create a new …

As Trump threatens 100% tariffs, where India stands on Brics currency vs dollar
3 months, 3 weeks ago

As Trump threatens 100% tariffs, where India stands on Brics currency vs dollar

India Today  

As Donald Trump returns to the White House in January 2025, his aggressive trade stance - the latest now being a 100 per cent tariff threat on Brics nations, including India, if they went ahead to develop their own currency to undermine the US dollar's dominance - has already created ripples in the global economy. Trump's 100 per cent tariff …

Trump threatens 100% tariff on multiple countries, including India, if they...
3 months, 3 weeks ago

Trump threatens 100% tariff on multiple countries, including India, if they...

Firstpost  

“We require a commitment from these Countries that they will neither create a new…Currency, nor back any other Currency to replace the mighty U.S. Dollar,” Trump wrote on Truth Social US President-elect Donald Trump has threatened to slap India, and other BRICS countries, with 100% tariffs. In a post on his social media platform Truth Social on Saturday, he wrote, …

Trump threatens 100% tariff on BRICS countries if they pursue creating new currency
3 months, 3 weeks ago

Trump threatens 100% tariff on BRICS countries if they pursue creating new currency

CNN  

CNN — 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 100% tariffs during his administration. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency …

The idea of a Brics currency is looking like a charade
4 months ago

The idea of a Brics currency is looking like a charade

Live Mint  

Last month’s Brics summit in Kazan, Russia, was, like all summits, heavy on photo ops. And it yielded a second act that was similarly heavier on symbolism than substance: the release of a report by the Russian finance ministry and central bank on “improvement of the international monetary and financial system," by which Russian officials obviously meant “finding an alternative …

BRICS Gathers Pace as Shared Grievances Fuel Diplomatic Talks in Kazan
5 months ago

BRICS Gathers Pace as Shared Grievances Fuel Diplomatic Talks in Kazan

Hindustan Times  

BRICS summit shows growing momentum as new members join the group. The summit scored diplomatic wins, with the presence of key leaders signaling a shift in the global economic landscape. While BRICS' track record is mixed, the growing number of members and the increasing focus on trade and finance suggest that the group is gaining traction. However, challenges to overcome, …

Sanctions will result in reduction of dollar's influence
7 months, 3 weeks ago

Sanctions will result in reduction of dollar's influence

China Daily  

MA XUEJING/CHINA DAILY Editor's note: The world has undergone many changes and shocks in recent years. Confidence in the dollar has recently declined due to the illegal freezing and subsequent confiscation of Russian assets by the G7 countries, disrupting the stability of the current global financial system. During the same period, the other BRICS countries decreased their holdings of US …

Sanctions will result in reduction of dollar's influence
7 months, 3 weeks ago

Sanctions will result in reduction of dollar's influence

China Daily  

MA XUEJING/CHINA DAILY Editor's note: The world has undergone many changes and shocks in recent years. Confidence in the dollar has recently declined due to the illegal freezing and subsequent confiscation of Russian assets by the G7 countries, disrupting the stability of the current global financial system. During the same period, the other BRICS countries decreased their holdings of US …

Stepping up
8 months ago

Stepping up

China Daily  

WANG XIAOYING/CHINA DAILY As a prime example of cooperation among emerging economies, the BRICS group has consistently acted on the spirit of openness, inclusiveness, and win-win cooperation, playing a positive role in global industry chain cooperation. The expansion of the BRICS with the five new members of Saudi Arabia, Egypt, the United Arab States, Iran and Ethiopia will have a …

Stepping up
8 months ago

Stepping up

China Daily  

WANG XIAOYING/CHINA DAILY As a prime example of cooperation among emerging economies, the BRICS group has consistently acted on the spirit of openness, inclusiveness, and win-win cooperation, playing a positive role in global industry chain cooperation. The expansion of the BRICS with the five new members of Saudi Arabia, Egypt, the United Arab States, Iran and Ethiopia will have a …

De-weaponizing the dollar
1 year, 1 month ago

De-weaponizing the dollar

China Daily  

BRICS is spearheading a new cross-border payment system using digital currencies to break away from Western dominance WANG XIAOYING/CHINA DAILY The United Arab Emirates and China completed the first cross-border payment using the digital dirham on Jan 30. The fact that the most advanced technology for using digital currencies has been created in developing countries illustrates that countries in the …

We have valid reasons to be wary of BRICS expansion
1 year, 6 months ago

We have valid reasons to be wary of BRICS expansion

Live Mint  

BRICS is now BRICS-Plus and within this change lie diverse, multiple incarnations. The declaration at the end of the 15th BRICS summit last week provided clues on how BRICS-Plus would pursue the de-dollarization goal: “We stress the importance of encouraging the use of local currencies in international trade and financial transactions between BRICS as well as their trading partners. In …

BRICS announces induction of 6 nations: What is its significance and will it change world order? EXPLAINED
1 year, 7 months ago

BRICS announces induction of 6 nations: What is its significance and will it change world order? EXPLAINED

India TV News  

The BRICS group, in its Summit in South Africa’s Johannesburg, took a huge leap in the expansion of its reach through the announcement that it has invited six other countries - mostly from the Middle East, to be a part of the bloc of emerging economies. The six nations that have been extended an invitation to join the BRICS include …

Can BRICS dethrone the US dollar? It’ll be an uphill climb, experts say
1 year, 7 months ago

Can BRICS dethrone the US dollar? It’ll be an uphill climb, experts say

Al Jazeera  

The world’s reserve currency is facing a challenge from Global South countries who want options beyond the greenback. The impetus for Global South countries trying to find an alternative is more a “practical consideration” than a moral one, said Gustavo de Carvalho, a policy analyst on Russia-Africa ties at the South African Institute of International Affairs, as they view the …

Why a common BRICS currency might have to wait
1 year, 7 months ago

Why a common BRICS currency might have to wait

Firstpost  

While all BRICS nations agree on reducing dependence on the US dollar and boosting local currencies for trade, they are yet to find a common ground to develop a Euro-like currency for the bloc. As leaders of Brazil, Russia, India, China and South Africa participate in the talks, the push for a common BRICS currency seems to have been put …

No announcement on additional members of New Development Bank in BRICS Summit
1 year, 7 months ago

No announcement on additional members of New Development Bank in BRICS Summit

Hindustan Times  

The New Development Bank of the BRICS group of nations will not be announcing new members at the BRICS Summit in South Africa this week, its Chief Financial Officer Leslie Maasdorp told Reuters on Wednesday. The NDB is registering an Indian rupee bond programme worth $2.5 billion over 5 years, after it issued its first South African rand bond last …

Dollar hegemony prompts BRICS rethink
1 year, 7 months ago

Dollar hegemony prompts BRICS rethink

China Daily  

SHI YU/CHINA DAILY At the ongoing BRICS Summit in Johannesburg, a key topic that has attracted wide attention is the further development of new and complementary reserve currencies and settlement mechanisms. At the end of March, Alexander Babakov, deputy chairman of the Duma, the lower house of the Russian parliament, said the BRICS countries were working on creating a new …

Emerging markets to lead global governance reform
1 year, 7 months ago

Emerging markets to lead global governance reform

China Daily  

MA XUEJING/CHINA DAILY The 15th BRICS Summit in Johannesburg, South Africa, from Tuesday to Thursday, is the first offline meeting of BRICS in the post-pandemic era — the last three were held under the chair of Russia, India and China in the virtual format due to the COVID-19 pandemic. Economic relationships between the BRICS countries have been formalized by the …

Dollar hegemony prompts BRICS rethink
1 year, 7 months ago

Dollar hegemony prompts BRICS rethink

China Daily  

SHI YU/CHINA DAILY At the ongoing BRICS Summit in Johannesburg, a key topic that has attracted wide attention is the further development of new and complementary reserve currencies and settlement mechanisms. At the end of March, Alexander Babakov, deputy chairman of the Duma, the lower house of the Russian parliament, said the BRICS countries were working on creating a new …

BRICS bank plans to issue first ever Indian Rupee bond by October, plans to tap Indian market
1 year, 7 months ago

BRICS bank plans to issue first ever Indian Rupee bond by October, plans to tap Indian market

Op India  

On Monday, the Chief Operating Officer of the New Development Bank stated that the bank founded by the BRICS countries is aiming to issue its first Indian Rupee bond by October, as reported by Reuters. Apparently, the COO of NDB Vladimir Kazbekov shared the bank’s plan while addressing a press briefing ahead of the BRICS Summit in Johannesburg which is …

Can BRICS create a new world order?
1 year, 7 months ago

Can BRICS create a new world order?

Al Jazeera  

Dozens of nations want to join the five-nation club. Starting Tuesday, leaders of the group of nations known as the BRICS – Brazil, Russia, India, China and South Africa – are meeting for a three-day summit, which is expected to draw eyeballs from capitals around the world. ‘Voice’ of the Global South In opening remarks at the BRICS foreign ministers …

‘Brics trade focus only on national currencies’
1 year, 7 months ago

‘Brics trade focus only on national currencies’

Live Mint  

Foreign Secretary Vinay Mohan Kwatra on Monday downplayed the possibility of Brics countries developing a common currency. Briefing the media, Kwatra said deliberations among Brazil, Russia, India, China and South Africa have been focused on boosting trade in national currencies instead of on developing a common currency. “The substantive part of trade and economic exchanges and discussions that have been …

We face hard options on the BRICS architecture
1 year, 7 months ago

We face hard options on the BRICS architecture

Live Mint  

The latest summit of the BRICS group of countries starts on Tuesday in South Africa, the only add-on member of what began as a quartet of Brazil, Russia, India and China, which formed the original ‘BRIC’ coined by Goldman Sachs two decades ago by clubbing together hot emerging markets for global investors to bet on. India has professed resolute neutrality …

brics common currency push & expansion plans: where does india stand?
1 year, 7 months ago

brics common currency push & expansion plans: where does india stand?

The Hindu  

The story so far: In a bid to deepen ties in Asia and Africa, the heads of the BRICS nations are scheduled to meet in Cape Town, South Africa on August 22-24 this year. In a post-meeting statement, South Africa’s foreign minister Naledi Pandor said that Shanghai-based New Development Bank had briefed the BRICS minsters about potentially using alternative currencies …

BRICS building a 'pluriversal' world
1 year, 7 months ago

BRICS building a 'pluriversal' world

China Daily  

Signboards of the 15th BRICS summit are seen in a street of Johannesburg, South Africa, Aug 17, 2023. The convergence of historical and contemporary geopolitical events has helped the BRICS member states gravitate toward the global center stage, with some other countries of the Global South following a similar path. The BRICS members are playing an increasingly important role in …

BRICS building a 'pluriversal' world
1 year, 7 months ago

BRICS building a 'pluriversal' world

China Daily  

Signboards of the 15th BRICS summit are seen in a street of Johannesburg, South Africa, Aug 17, 2023. The convergence of historical and contemporary geopolitical events has helped the BRICS member states gravitate toward the global center stage, with some other countries of the Global South following a similar path. The BRICS members are playing an increasingly important role in …

Emerging economies are pushing to end the dollar’s dominance. But what’s the alternative?
1 year, 7 months ago

Emerging economies are pushing to end the dollar’s dominance. But what’s the alternative?

Associated Press  

ABUJA, Nigeria — Business has vanished at Kingsley Odafe’s clothing shop in Nigeria’s capital, forcing him to lay off three employees. Across the developing world, many countries are fed up with America’s dominance of the global financial system — especially the power of the dollar. At a meeting of BRICS foreign ministers in June, South Africa’s Naledi Pandor said the …

Emerging economies are pushing to end the dollar's dominance. But what's the alternative?
1 year, 7 months ago

Emerging economies are pushing to end the dollar's dominance. But what's the alternative?

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Across the developing world, many countries are fed up with America’s dominance of the …

'BRICS bank' looks to local currencies as Russia sanctions bite
1 year, 7 months ago

'BRICS bank' looks to local currencies as Russia sanctions bite

The Hindu  

Hobbled by the impact of sanctions against founding shareholder Russia, the New Development Bank set up by the BRICS countries needs to increase its local currency fundraising and lending, South Africa's Finance Minister told Reuters. "Because of the capital market challenges of 2022, and in an endeavour to preserve the bank's core financial ratios, there was indeed a slowdown," Mr. …

Jaishankar Makes Big Comment on BRICS Currency Plans Amid De-Dollarisation Push | Watch
1 year, 8 months ago

Jaishankar Makes Big Comment on BRICS Currency Plans Amid De-Dollarisation Push | Watch

Hindustan Times  

Jaishankar Makes Big Comment on BRICS Currency Plans Amid De-Dollarisation Push | Watch India has made a big declaration amid speculation of a new BRICS currency. India's external affairs minister, S. Jaishankar, said there are no plans for a new BRICS currency and that the focus is on strengthening the national currency. Some reports state that 41 countries, including Bangladesh, …

BRICS pitches for using local currencies in international trade
1 year, 9 months ago

BRICS pitches for using local currencies in international trade

The Hindu  

The BRICS nations on June 2 underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. The joint statement titled 'The Cape of Good Hope', said Ministers expressed their support for a free, open, transparent, inclusive, equitable, non-discriminatory and rules-based multilateral trading system with the World …

BRICS pitches for using local currencies in international trade
1 year, 9 months ago

BRICS pitches for using local currencies in international trade

India TV News  

Cape Town: The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. The joint statement titled 'The Cape of Good Hope', said ministers expressed their support for a free, open, transparent, inclusive, equitable, non-discriminatory and rules-based multilateral trading system with the …

After the stalled rupee-oil trade with Russia, India should be cautious on BRICS currency
1 year, 9 months ago

After the stalled rupee-oil trade with Russia, India should be cautious on BRICS currency

Firstpost  

On paper, India’s rupee-based oil trade with Russia was historic and also path-breaking for the world at large even more than what the arrival of euro and yuan might have been when they hit the global track. The dichotomy could only accentuate if India were to fall into the trap of joining the BRICS chorus for a currency of its …

“Market acceptance will be key test for alternative to dollar”
2 years, 9 months ago

“Market acceptance will be key test for alternative to dollar”

The Hindu  

Sentiment of the market will be the ultimate test for a new global reserve currency that the BRICS member states are considering as an "alternative" to the American dollar, said a leading expert of BRICS affairs. Venkatesh Varma said on Thursday that national currencies are likely to play a greater role for trade within BRICS, but it is "impractical" to …

Russian finance minister urges BRICS to band together to mitigate economic crisis
2 years, 11 months ago

Russian finance minister urges BRICS to band together to mitigate economic crisis

Firstpost  

Anatoly Siluanov blamed economic sanctions on Russia for ‘destroying the foundation of the existing international monetary and financial system based on the US dollar’ and urged BRICS to rely more on their national currencies in foreign trade Moscow: Russian Finance Minister Anatoly Siluanov said on Saturday that the five BRICS countries could mitigate the backlash of Western sanctions against Russia …

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