Single BRICS Currency Not on Agenda, Says Russia’s Deputy Foreign Minister

Source: The Economic Times | Original Published At: 2026-02-11 18:08:00 UTC

Key Points

• BRICS countries are not pursuing a common currency but expanding use of national currencies for trade and investments
• Russia's deputy foreign minister clarifies this approach aims to create sanctions-resilient financial systems
• Officials emphasize this is not anti-Western but a response to attacks on multilateralism
• Russia states they would continue using dollars if not for Western sanctions cutting SWIFT access
• Focus areas include settlements, reinsurance, investments, and infrastructure development using local currencies