Russian Foreign Minister Sergey Lavrov announced that the share of national currencies in settlements between Russia and BRICS countries reached 90% by the end of 2024. Lavrov emphasized that one of Russia’s key priorities is establishing flexible payment mechanisms. Additionally, Russia’s Finance Ministry introduced a concept last year to modernize the international monetary and financial system. This aims to introduce new tools to reduce reliance on the US dollar and facilitate more convenient and faster transactions among BRICS members and their partners. Progress in strengthening relations within the group will be discussed at the St. Petersburg Economic Forum during a session titled “The Future of the International Financial System.” Egypt is expected to participate with a high-level delegation in the St. Petersburg International Economic Forum (SPIEF), scheduled to take place from June 18 to 21, alongside representatives from over 91 countries.
— new from جريدة المال
