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25 sats \ 3 replies \ @kristapsk 29 Dec 2023 \ parent \ on: BRICS Expansion: A Powerful Energy Bloc Assumes Shape news
Yeah, and now India buys oil and gas for cheap from Russia, paying in rupies, which Russians have no much use for, LOL.
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0 sats \ 2 replies \ @TomK OP 29 Dec 2023
What use would have SWIFT/USD to them after having been expropiated by the US? They need to establish another settlement system asap
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50 sats \ 1 reply \ @kristapsk 29 Dec 2023
I don't believe BRICS will have common own settlement system and base currency anytime soon. Russia trades with India in rupies, with China in yans, etc. Basically China and India can and do now exploit weakness of Russia.
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0 sats \ 0 replies \ @TomK OP 29 Dec 2023
They need their time. I think it could be a currency basket backed by gold what they are aiming at
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