Putin Vows Russia Will Work to Enhance Role of BRICS in International Monetary System

On Monday, Russia was passed the baton of the BRICS chairmanship, an association which, according to the decision adopted by the 15th BRICS Summit in August 2022, now includes 10 countries. 

Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates joined BRICS as new full members which is a strong indication of the growing authority of the association and its role in international affairs.

"Moscow will work to enhance the role of BRICS in the international monetary system during its chairmanship of the group", Russian President Vladimir Putin Putin said in a statement on the start of Russia's BRICS Chairmanship.

"We will contribute to the practical implementation of the Strategy for BRICS Economic Partnership 2025 and the Action Plan for BRICS Innovation Cooperation 2021-2024 for ensuring energy and food security, enhancing the role of BRICS in the international monetary system, expanding interbank cooperation and expanding the use of national currencies in mutual trade," he pointed out.