Western countries may join de-dollarization, but their goals must be clarified — diplomat

MOSCOW, October 25. /TASS/. Western countries may want to join the process of de-dollarization of world trade promoted by BRICS, but it is possible that they will do it for destructive purposes, Russia’s Deputy Foreign Minister and BRICS Sherpa Sergey Ryabkov said at a press conference after the summit of the association in Kazan.
“I will not judge whether Western countries want to join one of the models of future interaction in this area, or will try to destroy it from within, if they set themselves such goal,” he noted.
In this regard, Ryabkov urged “not to get ahead of ourselves”. “Let’s first make progress in the practical implementation of our plans,” he stressed.
Ryabkov also noted that the Russian presidency of BRICS has successfully achieved results in developing models for weaning off the dollar and formalizing them in agreements, and it is now passing the baton for the implementation of these ideas to Brazil.
“The next step, of course, should be the implementation of these ideas [on ditching the dollar] into practical steps and patterns. It is clear that this area is extremely sensitive and carries risks associated with illegitimate sanctions, including secondary ones. However, there are also solutions to protect ourselves from such measures. We are handing this topic over to the Brazilians, fully convinced that the initiative has been made; these are not just words but the result of work formalized in agreements,” the senior diplomat explained.
The senior diplomat mentioned mechanisms such as BRICS Bridge, BRICS Clear, and BRICS Reinsurance among the practical ideas that “have matured during Russia’s presidency and have now become elements of agreements between leaders and specialists”.