BRICS calls for facilitating payments in local currencies and criticizes trade restrictions

Source: الجزيرة نت | Original Published At: 2026-09-12 13:38:59 UTC

Key Points

• The BRICS summit adopted the New Delhi declaration, criticizing unilateral tariff and non-tariff measures that distort global trade.
• BRICS said such measures are inconsistent with World Trade Organization rules and called for maintaining the flow of trade, supply chains, and energy.
• The group encouraged continued discussions to develop practical solutions for cross-border payments among its 11 member states.
• BRICS is seeking to increase the use of local currencies in trade and payments to reduce dependence on the Western-dominated financial system.
• Iranian President Masoud Pezeshkian said expanding the use of national currencies in trade among BRICS members is one of the most important steps.
• India is pushing to link central bank digital currencies across BRICS members to facilitate cross-border payments and trade.
• India's initiative builds on the 2025 BRICS summit declaration in Rio de Janeiro, which called for interoperability among member states' payment systems.