Putin Targets Greater BRICS Influence in Global Crypto Monetization

• Russian President Asserts BRICS' Efforts to Boost Role in Global Monetary System
• BRICS' Continued Growth and International Finance Endeavors Under Russian Leadership
• BRICS' Emphasis on the International Monetary System
• Promoting Local Currency Use in International Trade

Russian President Asserts BRICS' Efforts to Boost Role in Global Monetary System

The Russian President, Vladimir Putin, recently disclosed that the BRICS alliance is actively striving to amplify its influence within the international monetary system. This revelation came as he outlined the priorities and focus of the alliance for the forthcoming year, during a discussion regarding Russia's newfound chairmanship of the BRICS bloc, commencing from the 1st of January.

BRICS' Continued Growth and International Finance Endeavors Under Russian Leadership

The remarkable growth and international recognition of the BRICS economic alliance was a standout characteristic of 2023. This significant expansion resulted in profound geopolitical implications that served the bloc's mission. As 2024 marks the beginning of Russia's chairmanship, the BRICS alliance aims to further intensify its position within the international monetary sphere. The Russian President expressed his aspirations for the alliance in the year ahead, identifying its role in the global financial sector as a primary concern.

BRICS' Emphasis on the International Monetary System

Putin emphasized Russia's commitment towards strengthening the role of BRICS in the international monetary framework. He underlined the importance of the international monetary system, urging the alliance to stay on the path of economic growth.

Promoting Local Currency Use in International Trade

Putin declared, We will contribute to the practical implementation of the strategy for BRICS economic partnership 2025 and the action plan for BRICS innovation cooperation 2021-2024". He further emphasized the importance of expanding interbank cooperation, increasing the use of national currencies in mutual trade, and enhancing BRICS' role in the international monetary system.

Encouraging the utilization of local currencies in international trade was a fundamental component of the bloc's 2023 strategy, which is expected to continue with renewed zeal into the coming year. There is also speculation regarding the potential emergence of a BRICS currency in 2024, a development that could significantly advance the bloc's global monetary objectives.

Edited by Jonathan Stoker