Why Russia is Trying to Create a New BRICS Currency

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Aiming to disrupt the dollar’s power as the world’s reserve currency, Putin continues to talk up the prospect of a new common BRICS currency. So what would that actually look like? Is it even feasible? And is it likely to damage the dollar in any way?

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1 – Adam Tooze, Crashed, Chapter 5
2 – https://financialtribune.com/articles/world-economy/86102/putin-calls-for-de-dollarization-in-oil-trade
3 – https://www.ft.com/content/a5187880-c553-11e8-8670-c5353379f7c2
4 – https://en.wikipedia.org/wiki/BRICS
5 – https://economictimes.indiatimes.com/news/economy/policy/brics-explores-creating-new-reserve-currency/articleshow/94628034.cms
6 – https://www.agenzianova.com/en/news/lavrov-the-hypothesis-of-a-common-currency-in-the-BRICS-countries-will-be-discussed-at-the-August-summit/
7 – https://cointelegraph.com/news/russia-talks-up-prospects-of-brics-countries-developing-new-currency
8 – https://www.imf.org/en/About/Factsheets/Sheets/2023/special-drawing-rights-sdr
9 – https://foreignpolicy.com/2023/04/24/brics-currency-end-dollar-dominance-united-states-russia-china/?tpcc=recirc_trending062921
10 – https://www.ft.com/content/ef0cac54-48f5-418f-9d7a-634634592724
11 – https://moderndiplomacy.eu/2022/12/21/a-brics-reserve-currency-exploring-the-pathways/

00:00 Introduction
01:05 Why Putin Hates the Dollar
04:45 What Would It Look Like?
05:40 Could It Actually Happen?

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