Kremlin Dismisses Trump's BRICS Currency Threat
The Kremlin has dismissed President Donald Trump's threat to impose tariffs on BRICS countries if they create a new currency. Kremlin spokesman Dmitry Peskov stated the BRICS nations were not planning such a move but focused on joint investment platforms. The threat continues amid Trump's warnings about currency changes.
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The Kremlin has dismissed a renewed threat from U.S. President Donald Trump to impose tariffs on BRICS countries should they create their own currency, clarifying that such a plan does not exist. Kremlin spokesperson Dmitry Peskov emphasized this on Friday, noting the BRICS focus is on joint investment platforms, not a new currency.
President Trump repeated his tariff threats in response to discussions among BRICS nations about replacing the U.S. dollar as a reserve currency. However, according to Peskov, this was a misunderstanding of BRICS' intentions and objectives. The group, which includes Brazil, Russia, India, China, and recently expanded to other nations, aims to enhance business through national currencies rather than creating a new shared currency.
As the dialogue around using their currencies for transactions gains traction, especially following Western sanctions on Russia, the Kremlin reiterated that any U.S. attempts to mandate dollar use could backfire. Peskov's remarks underline a need for detailed explanations of the BRICS agenda to U.S. officials, including President Trump.
(With inputs from agencies.)
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