BRICS Launches Initiative for International Payments System
Amid increased geopolitical uncertainty, the BRICS alliance is taking action, as the bloc has launched an initiative for an international payment system. Indeed, Russian foreign minister Sergey Lavrov has announced the efforts for the bloc to create a payment system that rivals the Western-dominated SWIFT in a recent statement. The efforts come as a global trade war appears to be inching closer. China, one of the original BRICS countries, is caught in a battle of increased tariffs with the United States that may soon create even more divide and disdain between the West and the Global South. JUST IN: Russian Foreign Minister Sergey Lavrov says BRICS is exploring the creation of a new payments platform. pic.twitter.com/v6buM08lmo — BRICS News (@BRICSinfo) April 11, 2025 Also Read: BRICS: US Dollar Is Now an Unreliable Currency, Say Analysts BRICS Launching New Payment System Initiative Amid Rising Global Tensions The global economy has seen tension increase over the last two weeks. Speci...