India & Russia from BRICS Discuss Crypto: Key Takeaways

• Strategic Conversation between Indian and Russian Leaders on BRICS Partnerships
• BRICS Currency Launch to Challenge US Dollar
• Indian Prime Minister's Discussion with BRICS Ally
• India and Russia's Strategic Partnership
• Initiation of Further Personal Contacts with India

Strategic Conversation between Indian and Russian Leaders on BRICS Partnerships

The Prime Ministers of BRICS nations, India and Russia, held a substantial dialogue on strategic partnerships. Prime Minister Narendra Modi of India and President Vladimir Putin of Russia had a telephonic conversation centered on a strategy for forthcoming endeavors. As the leader of this year's BRICS summit, Russia is taking the initiative and the next summit is set to happen in October 2024 in the Kazan region.

BRICS Currency Launch to Challenge US Dollar

Three countries have agreed to launch a BRICS currency to pose a challenge to the US dollar. The 16th BRICS summit, scheduled to be held in Russia, will see an extended bloc of ten countries deciding the next set of actions. The primary goal of BRICS is de-dollarization, and it is likely that the alliance might decide to form a new currency. This could potentially affect numerous sectors in the US if BRICS opts for trading in the new currency over the dollar.

Indian Prime Minister's Discussion with BRICS Ally

Indian Prime Minister Modi had a successful and promising discussion with Russian President Putin. The positive relations between India and Russia have stood the test of time and have been in place for decades. There were several key issues discussed during the telephonic conversation.

India and Russia's Strategic Partnership

Modi, post his conversation with Putin, stated that they discussed various positive developments in their Special and Privileged Strategic Partnership and agreed to outline a roadmap for future initiatives. The discussion also encompassed a useful exchange of views on various regional and global issues, including Russia's Presidency of the BRICS.

Initiation of Further Personal Contacts with India

A statement released by Kremlin's press office after the conversation revealed that they have agreed to continue personal contacts with India. This telephonic interaction comes a few weeks after India's Foreign Affairs Minister, S Jaishankar, visited Russia and had successful dialogues with Russia's Foreign Minister, Sergey Lavrov.

Edited by Jonathan Stoker