Oreshkin: BRICS Financial Sectors Replacing Western System

Source: Известия | Original Published At: 2026-04-28 11:59:49 UTC

Key Points

• Maxim Oreshkin stated that active growing financial sectors of BRICS countries are replacing the cumbersome Western financial system.
• He described the Western financial machine as inefficient, risky, and no longer an effective mechanism for capital turnover.
• Oreshkin noted that anti-Russian sanctions failed to achieve their goals and instead prompted the creation of new financial mechanisms.
• Statistics show that by 2025, 85% of Russia's foreign trade is serviced in rubles or BRICS currencies, compared to over 75% in G7 currencies in 2021.
• He predicted that G7 currencies will lose global relevance, with Russia's case illustrating future global changes.
• The Deputy Head of AP emphasized the irreversible shift of economic activity centers to BRICS and the growing role of cryptocurrencies.