The Russian ambassador to South Africa symbolically inaugurates a 100 brics note, an action that shows the BRICS bloc’s determination to de-dollarize.
The head of the Russian diplomatic mission in South Africa, Ilya Igorevich Rogachev, symbolically exhibited a 100 brics note on Tuesday night and presented it to the ambassador of the United Arab Emirates in the African country, during a ceremony at the Emirati embassy to celebrate the entry of the Arab country into the bloc of emerging economies, the BRICS.
Russia’s symbolic and political initiative, which is part of the BRICS group’s efforts to create a common currency so as not to depend on the US dollar, was applauded by guests at the event.
On one side of the banknote you can see the flags of the five founding States of the block, that is, Brazil, Russia, India, China and South Africa, and on the other the insignia of seven other States are published, among which the flag of the Islamic Republic of Iran.
The international group of emerging economies BRICS agreed to its expansion with the entry into the block of Iran, Argentina, Saudi Arabia, Egypt, Ethiopia, and the United Arab Emirates at the XV Summit of Heads of State and Government that took place in August in South Africa .
Attempts to de-dollarize BRICS transactions began amid a scenario in which the United States was betting on unilateral sanctions and economic warfare against some of the bloc’s members, such as Russia and China.
The BRICS group, which has 32% of world GDP, serves as a counterweight to the Group of Seven [que reúne a las siete mayores economías mundiales] and its expansion could bankrupt the US economy.
