Foreign Ministry: Growth of settlements in national currencies is a priority of Russia's BRICS chairmanship

This is stated in the statement of the department following the meeting of the Sherpas and Sous-Sherpas of the association.

An important area of work of the Russian Chairmanship will be the comprehensive implementation of the BRICS Economic Partnership Strategy until 2025 and the Action Plan on Innovative Cooperation for 2021-2024.

"Particular emphasis will be placed on increasing the role of the BRICS countries in the international monetary and financial system, the development of interbank cooperation with an emphasis on increasing settlements in national currencies," the Foreign Ministry said.

Earlier, the Ministry of Economy of Iran approved the idea of creating a single currency for the BRICS countries.

Russian President Vladimir Putin also said that at the moment BRICS needs to establish a system of settlements in national currencies and financial logistics.