The Kremlin dismissed U.S. President Donald Trump‘s renewed threat on Friday to impose tariffs on the BRICS nations if they established their own currency, asserting that there has never been any such intention.
On Thursday, Trump cautioned BRICS members against replacing the U.S. dollar as the global reserve currency, reiterating a previous threat of imposing 100% tariffs that he had made shortly after his election victory in November.
Kremlin spokesman Dmitry Peskov clarified that BRICS, which includes Russia, is not considering the creation of a common currency but is focused on developing joint investment platforms.
“This is not the first instance of Trump making such remarks; they are not new. Similar statements were made during his time as president-elect,” Peskov informed reporters.
“The reality is that BRICS is not discussing the establishment of a common currency, nor has it ever done so. The focus is on creating new joint investment platforms that facilitate mutual investments in third countries and other collaborative efforts,” Peskov explained.
He suggested that U.S. experts might need to provide Mr. Trump with a clearer understanding of the BRICS agenda.
In December, the Kremlin indicated that any U.S. efforts to force countries to adopt the dollar would likely backfire, following Trump’s earlier threats against BRICS. The BRICS group originally comprised Brazil, Russia, India, and China, but has since expanded to include additional nations.
The group lacks a unified currency; however, ongoing discussions about increasing trade in national currencies have intensified following the sanctions imposed by the West on Russia due to the conflict in Ukraine.
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