"A lot is being written about the shortcomings of the current system now. And many publications mention BRICS in the context that this association can offer an alternative," he said.
As Mozhin explained, it is possible for BRICS member countries to create a unit of account, which will be built on a basket of currencies from five member countries of the association, including the Chinese yuan, the Indian rupee, the Russian ruble, the Brazilian real, as well as the South African rand.
"Such a proposal is being discussed. In the event of the collapse of the dollar and the international monetary system, it will be necessary to make the said BRICS unit of account already a real currency with the collateral of exchange-traded commodities," the executive director said.
Source: https://ria-ru.translate.goog/20240503/briks-1943603376.html?_x_tr_sl=ru&_x_tr_tl=en&...