‘Point of No Return:’ BRICS Profiles Native Payments _ for a ‘Global Majority’

The BRICS bloc, integrated by Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE), is steadfast in implementing its economic structure away from hostile states. This is the message of the deputy foreign minister of Russia and BRICS Sherpa Sergey Ryabkov, who recently stated there was no turning back in the plans laid out by the organization leaders.

In a recent interview, TASS reported that, when consulted about the state of the creation and implementation of a BRICS native payments platform, Ryabkov stated that he saw the glass as half-full. “We can measure how full the glass is in different ways but this ultimately depends on who is holding this glass in their hands. Therefore, we’ve made significant strides today,” he explained.

Furthermore, he remarked that adopting such a would depend on the state members of the bloc and what he called the “global majority,” and how determined they were. Ryabkov assessed that this new would also serve this global majority to protect their economies from the actions of hostile states.

Ryabkov detailed:

A critical milestone – a point of no return – has been passed… We will do everything in our power to ensure success.

Russia, one of the main members of BRICS, has been one of the main promoters of an alternative to traditional payment means given the sanctions enacted by the Western world against it. Nonetheless, it remains to be seen how the bloc will react to the rise of President Donald Trump in the U.S. and its new foreign policy seeking to “reshape global power” and “upend the emerging unity” of non-aligned nations, according to analysts.

Read more: Breaking BRICS: Analyst Warns of Trump’s Bid to Weaken Global Alliance