by Vinod Dsouza at Watcher.Guru
BRICS member Russia is using all methods to bypass the US sanctions to keep its economy afloat. In the latest advancement to safeguard its economy, BRICS country Russia has officially signed a law to use digital assets for trade settlements. Digital Financial Assets (DFAs) will be used to settle cross-border transactions and currencies like the US dollar will not be incorporated. While the US is trying to limit Russia’s growth through sanctions, Russia in turn is dampening the US dollar’s prospects.
Also Read: BRICS: 10 Local Currencies Outperform The U.S Dollar This Week
Russia officially signs law to use digital assets for trade. pic.twitter.com/3kDDYdBISM
— BRICS (@BRICSinfo) March 15, 2024
The BRICS bloc is using all means to cut ties with the US dollar and protect their local currencies and native economies. The usage of digital financial assets is among the new advancements used by BRICS to challenge the US dollar’s hegemony. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade…
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