BRICS Common Currency Not on Agenda, Russian Sherpa Says; Indian Presidency May Appease Trump

Source: नवभारत टाइम्स | Original Published At: 2026-02-12 05:08:31 UTC

Key Points

• Russian Sherpa Sergei Ryabkov explicitly states BRICS is not considering establishing a common currency during India's presidency.
• Clarification aims to alleviate U.S. President Trump's concerns about potential challenges to dollar dominance through BRICS currency mechanisms.
• BRICS focuses on expanding national currency usage for trade settlements and infrastructure investments rather than creating new financial systems.
• India's role as current BRICS chair highlighted through hosting Sherpa meetings and Foreign Minister Jaishankar's leadership.
• Mentions BRICS expansion with full members including Saudi Arabia, UAE, Iran, and new partner countries joining from 2025.