Putin calls for expanded local currency settlement and proposes the creation of a new BRICS investment platform
2025-07-06 17:03:57
According to CCTV coverage, Russian President Vladimir Putin attended the 17th BRICS Leaders' Meeting by video on July 6 local time. In his speech, he put forward a number of initiatives, including building an independent settlement and custody system on the BRICS platform, and vigorously promoting the expansion of the scope of local currency settlement. Putin said that in 2024, the ruble and the currency of "friendly countries" will account for 90% of the settlements between Russia and other BRICS countries; at the same time, he proposed to increase the scale of two-way investment among member states, and proposed the creation of a new BRICS investment platform. In addition, Putin also proposed the establishment of a carbon market partnership, an arbitration investment center, a fair competition platform, and a permanent tax secretariat within the BRICS framework.
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