Russia is proposing the use of multicurrency payments in BRICS to minimize the dependence upon the US dollar.
Russia proposes using blockchain to minimize expenses and dependence on the conventional banking sector.
Russia has called on BRICS nations to establish a new cross-border payments network as part of a broader strategy to reduce dependency on the global financial system, including SWIFT. The proposal is to enhance the economic relations within the bloc and to promote intra-bloc dealings in local currencies. 
This comes in the wake of several actions taken by the US and its allies, including closing major Russian banks from the Society for World Interbank Financial Telecommunication (SWIFT) and seizing Russia’s foreign assets. It is worth noting that Russia has been subjected to several severe sanctions since it launched the operation in Ukraine in February 2022. 
BRICS Multicurrency System Proposal
The Russian Finance Ministry, the Bank of Russia and the Moscow-based Yakov

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