Russia says BRICS after weakening US dollar status

TEHRAN, Aug. 28 (MNA) – Russian Deputy Foreign Minister Sergei Ryabkov told the media on Monday that the BRICS countries are determined to put an end to US dominance over global finance.

The BRICS countries (Brazil, Russia, India, China and South Africa) are working to weaken the US dominant position in global finance. The statement is from Russia's Deputy Foreign Minister Sergei Ryabkov in an interview with Russian television channel.

"We need to find ways to mobilize the international community and make it more resistant to this trend," said the deputy minister, referring to Washington's abuses of the US dollar's privileged position as reserve currency.

According to Ryabkov, the current situation is the result of "negligence on the part of the rest of the international community," which did not provide for the possibility that US political elites would begin to abuse this position to the detriment of other countries.

The deputy minister said that many nations, including Russia itself, have already felt the effects of this abuse and emphasized the conclusion that "it is necessary to diversify the world's reserve currencies, expand trade in other currencies, and adopt schemes to dodge American banks."

At the same time, Ryabkov noted that "it is impossible to ignore the status of the US as a superpower, also in the field of finance, so common efforts are needed to change the situation." According to the diplomat, the BRICS alliance is one of the tools to achieve this.

MNA/SPUTNIK

News Code 137194

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