Russian economist Sergey Glazyev has provided a window into some of the ideas being discussed within the BRICS at the expert level, on how to establish some form of payment method or new currency which will allow the BRICS countries to create the needed “stable, accessible and convenient market for countries seeking new economic developments.”
That discussion took place in his Feb. 23 interview with CNN TÜRK. The Turkish TV channel queried him on the state of Russia’s economy ("revitalized” by the sanctions, Glazyev said), the potential to increase Turkish-Russian economic relations (cooperation on nuclear, gas, machinery production, and construction can expand), and if Türkiye could join the BRICS ("Why not? Türkiye is a very good partner").
And the big question: if, how, and when a BRICS currency might be implemented, which would protect against Western sanctions.
The discussion was taken at the last BRICS summit to establish the infrastructure for trade with local currencies, Glazyev reminded the interviewer. This infrastructure is already in place, allowing us to make payments without using the SWIFT system.”
