President of Russia Vladimir Putin accused western powers "using the dollars as the weapon", arguing in a speech at a Brics summit in kazan, Russia where world leaders gathered this week.
Russia proposal is to circumvent the Us dollar by setting up a new payments messaging system known as "Brics Bridge" Putin said,"We are not rejecting or fighting the dollar. But if we are not given the chance to use it , what can we do? We are then forced to look for alternatives.
Proposal for a Brics currency was introduced at last year's summit in South Africa. In this kazan summit there are many guests, including India's prime minister Narendra Modi and China's president Xi Jinping.
There is no sign yet that this initiative is going viral and will be implemented in real life. US has made it clear to third countries that working with Russia's war machine will cost them access to dollar.
Why Russia wants alternative payment system?
US use dollar as a weapon by putting economic sanctions on other countries. US sanctions against Russia in the wake of 2022 invasion of Ukraine.
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