{"id":424507,"date":"2026-04-30T03:44:08","date_gmt":"2026-04-30T03:44:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/424507\/"},"modified":"2026-04-30T03:44:08","modified_gmt":"2026-04-30T03:44:08","slug":"brics-to-push-for-intra-currency-payments-as-immunity-against-western-clout","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/424507\/","title":{"rendered":"Brics to push for intra-currency payments as \u2018immunity\u2019 against Western clout"},"content":{"rendered":"

Brics<\/a> nations are assessing whether a digital payments framework linking their currencies<\/a> could lessen the impact of Western sanctions, tariffs and US dollar volatility without destabilising the Washington-led global financial system.Under the plan proposed by India<\/a>\u2019s central bank, Brics is looking to allow cross-border transactions to be settled in local currencies. Its feasibility depends on how far the bloc\u2019s members can lessen their reliance on Western-controlled payment channels without alarming the US, according to analysts.<\/p>\n

Brics foreign ministers are scheduled to meet in New Delhi from May 14-15 ahead of the bloc\u2019s summit on September 10-11, when payment connectivity and trade settlements are expected to be among the issues on the agenda.<\/p>\n

After the formation of Brics by founders Brazil<\/a>, Russia<\/a>, India and China in 2009, the bloc has welcomed South Africa<\/a>, Egypt, Ethiopia, Indonesia, Iran<\/a> and the United Arab Emirates as members in subsequent years.<\/p>\n

Geeta Kochhar, senior assistant professor at the Centre for Chinese Studies at Jawaharlal Nehru University in New Delhi, said a decentralised financial payments system within Brics could make it more resilient against external developments.<\/p>\n

\u201cIt is like a strategic tool to provide immunity against Western economic leverage. Even if there is dollar volatility, it will not impact payments as it will be near real-time payments,\u201d she said.<\/p>\n","protected":false},"excerpt":{"rendered":"Brics nations are assessing whether a digital payments framework linking their currencies could lessen the impact of Western…\n","protected":false},"author":2,"featured_media":424508,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[53398,72,114,113,61,2568,11359,11829,60,17536,8196,3589,257,90,1097,1519],"class_list":["post-424507","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-brics","tag-business","tag-china","tag-economy","tag-ie","tag-india","tag-indian-rupee","tag-iran","tag-ireland","tag-moscow","tag-new-delhi","tag-russia","tag-south-africa","tag-us","tag-us-dollar","tag-washington"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/424507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=424507"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/424507\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/424508"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=424507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=424507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=424507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}