German media: BRICS plans to launch independent payment system

BRICS member states are planning to launch their own payment system, independent of Western sanctions. This could become an excellent alternative for facilitating financial transactions between the member countries, which will create their own infrastructure for this purpose.

The Berliner Zeitung newspaper reports this.

It is proposed to use digital currencies from the national banks of the BRICS countries. This could be used to create a unified payment system for international settlements in trade and tourism.

According to German media, the Reserve Bank of India is behind this initiative. New Delhi is likely to bring this issue up at the upcoming BRICS summit, which will be held in India this year. India currently holds the rotating presidency of this international organization.

The key element of the system will be the Brics Pay payment method. It will unite the payment systems of participating countries, making them independent of Western instruments, including SWIFT, as well as the US national currency.

The German publication concludes:

The dollar will be left behind.

German journalists emphasize that this innovation will significantly strengthen the financial sovereignty of BRICS countries. They believe that the widespread use of Brics Pay will have the greatest positive impact on countries subject to Western sanctions, primarily Russia and Iran. Furthermore, this initiative could significantly expand the group's role in the global economy.

Comments

[Boris55]

Bolshevism is the essence of Russian civilization.

Quote: Vladimir Vladimirovich Vorontsov

- This doesn't sink...

But it’s already flooded and quite decently.

VRICS—the majority of humanity conducts transactions in national currencies. Many transactions bypass the US SWIFT system. The new payment systems are currently in test mode.

[Mini Mokik]

The US has found a way out. They're simply seizing tankers whose oil was involved in transactions that bypassed the dollar. 😶

[PROXOR]

Quote: Mini Mokik

The US has found a way out. They are simply seizing tankers whose oil was involved in transactions that bypassed the dollar.

For the time being. Sooner or later, merchant ships will acquire weapons. Anti-ship missiles and guns larger than 76mm are unlikely. But 4-6 turrets with 30-57mm autocannons are just right. They'll drive off the pirates and the helicopter won't dare approach. The only option left will be to sink the tankers, but that will be a much bigger problem.

[shikin]

They won't. Under current regulations, these would be military ships, and they would no longer be able to freely enter any port. Or they would have to revise international regulations, which would be slow and unlikely (who is our legislator on maritime law?).

[PROXOR]

Quote from shikin

Or revise international rules, which is not quick and is hardly possible (who is our legislator on maritime law?).

So, the entire international legal system went haywire the moment the mattresses first seized a tanker. And that, let me remind you, wasn't even last year. How many tankers of Iranian oil did they seize?

[shikin]

However, a warship has a different status. And a bunch of "warships" flying the Panamanian flag—is Panama going to be held accountable for everything? :)

[PROXOR]

The question here is not about the answer, but about the fact that not a single helicopter will fly within a kilometer of such a tanker.

[topol717]

Quote: Mini Mokik

The US has found a way out. They're simply seizing tankers whose oil was involved in transactions that bypassed the dollar. 😶

No, they're seizing Venezuelan oil. It's certainly piracy, but it's a little different, not because of trading in a different currency.

[Tusv]

Quote: Mini Mokik

They simply seize tankers whose oil was involved in transactions that bypassed the dollar.

No. The US wants to take control of the cargo insurance system. Until 14, it was always Britain, with 90% of the market; afterward, China has practically achieved parity. The Yankees are simply skillfully collapsing this market.

[Tusv]

Quote: Boris55

The new payment systems are currently in test mode.

Really? They tested OSMP 20 years ago, Rapid 10 years ago, and now SBP. Even OSMP outperforms the outdated SWIFT in terms of payment speed and is many times cheaper.

[mitrich]

BRICS is a motley crew. Like a swan, a crayfish, a pike,...
So many years, and still just talk. Concrete steps are few and far between.

[Mazunga]

The dollar will be left behind

I heard this mantra half a century ago))) and also about breakthroughs and communism, and there they treated suckers to shoals of bait and Apartment 2000 and the program 500 days, like Kokha, not Chubaisi, but Deripaska, is still chasing Aven

[kventinasd]

Quote from Mazunga

I heard this mantra half a century ago)

China has completely shut down Google, and the same will happen with Swift and the dollar. So the red-headed idiot is throwing caviar, putting a spoke in the wheel of the Chinese locomotive, but that locomotive has already left. Whatever the US does against BRICS, nothing will work. "You can't turn minced meat back, and you can't put caviar back into an eggplant." Soon, the psychopath Trump and his allies will run away in all directions.

[snow mountain]

I heard this mantra half a century ago))) and also about breakthroughs and communism

And about the market economy, which will raise the country to shining heights and about a bright future too

[Pavel Dryabin]

Gaidar, Chubais, and Deripaska, along with Abramovich and Khodorkovsky, kept repeating like crazy: "We have petrodollars and we can buy everything, we don't need manufacturing, biotechnology, or microelectronics, destroying the country's entire industrial potential."

[Mishka78]

You can plan for 20 years.

Reserve Bank of India Governor Shaktikanta Das said in December that a proposal to create a single BRICS currency had been put forward by one of the group's members and had been discussed, but no decisions had been made.

"There are six BRICS countries, and they tried to destroy our dollar <...>, they wanted to create a new currency, they probably wanted to use the Chinese yuan <...>. When I came in, the first thing I said was that any BRICS country that even mentions destroying the dollar will be subject to a 150% tariff and we don't want your goods," Trump said.

The payment system is certainly not an alternative to the American currency, but it's still doubtful the US will allow its creation. German media are chasing a chimera (Isn't this Bild? It's the equivalent of our Speed-Info). )

[Bad_gr]

Quote: Mishka78

The payment system is, of course, not an alternative to the American currency, but still It's doubtful that the US will allow it to be created..

There are already several of them:
The main alternatives to SWIFT between Russia and China:
CIPS (Cross-Border Interbank Payment System)A Chinese system focused on direct yuan settlements without intermediaries. Between 2022 and 2025, dozens of Russian banks (VTB, Gazprombank, Alfa-Bank, and others) joined CIPS for settlements.
Renminbi Digital (Digital Yuan)By the end of 2025, China will launch a system based on a central bank digital currency, which is considered an alternative to SWIFT for yuan settlements, available in Russia as well.
SPFS (Financial Messaging System): The Russian equivalent of SWIFT, developed by the Central Bank of the Russian Federation, which is also used for exchanging financial messages.
BRICS Pay: A China-backed decentralized platform aimed at secure cross-border transactions.

[Tusv]

Frankly, Swift doesn't stand a chance in the New World. Transactions are 10 times more expensive and 20 times slower. Of course, there's a major downside for the West. You need to register the tunnel and encryption certificate with the Russian Federal Security Service (FSB), but in return, you'll have the money in no time.

[gribanov.c]

That's right, our own system of payments and international settlements, and then a universal supranational currency (only for international settlements)

[Soldatov V.]

Finally, BRICS realized that it needed its own autonomous payment system, not controlled by anyone.

[PROXOR]

The main thing is that they don't repeat the mistake of the European Union, with its central headquarters. Each state should be autonomous. And the amount of the new currency should be regulated by a common document signed by, at a minimum, the heads of diplomatic missions.

[Captain Pushkin]

Quote: PROXOR

The main thing is that they don't repeat the mistake of the European Union, with its central headquarters. Each state should be autonomous. And the amount of the new currency should be regulated by a common document signed by, at a minimum, the heads of diplomatic missions.

It is enough to revive the transferable ruble (you can call it whatever you like)
The CMEA countries used the transferable ruble as an international monetary unit from January 1, 1964. It had no specific form, such as banknotes or treasury notes, and was used only for non-cash payments between member countries; it existed only as entries in special accounts at the International Bank for Economic Cooperation (IBEC), the International Investment Bank (IIB), or in banks of member countries.
It had an official gold content of 0,987412 grams of pure gold, but it was not convertible into the national currencies of capitalist countries and was not exchangeable for gold. It could only be exchanged for the national currencies of the Council's member countries.

[PROXOR]

That's right. A currency pegged to gold.

[OSE4Kinsura]

Another hair pulled out of the VRS's nose! Wow, that'll be a joke...

[VikPaS]

"The key element of the system will be the Brics Pay payment method. It will unite the payment systems of participating countries, making them independent of Western instruments, including SWIFT, as well as the US national currency."

BRICS will end up like this anyway, just like Trump, no matter what he does. He's already imposed too many sanctions everywhere.

[rocket757]

Most of the world's trade is conducted in dollars... are we to say that he won't be hurt if a significant portion of the trade passes him by??? He will be, that's predictable.
But when this moment will come is unpredictable!

[oleg-nekrasov-19]

It feels like the Americans themselves are pushing the dollar closer to the precipice, but holding it back at the very last moment. They're imposing sanctions, thereby provoking a shift from dollar transactions to national currencies, restricting trade in areas they have virtually no control over, and so on. Is this some kind of game, perhaps? What's the goal?

[rocket757]

Many different versions and predictions are being made...
Where in this stream the truth is hidden, try to figure it out!

[Tusv]

Quote: oleg-nekrasov-19

It feels like the Americans themselves are pushing the dollar closer to the cliff, but holding it back at the very last moment.

This isn't a feeling. A sound financial policy down to the "C" note. Inflation no more than 2,5%. This is the basis. Japan did the unthinkable in the 1980s, biting into American real estate. The US reset with a 300% profit. 90... The US economy is on its last legs, but they found Gorbachev and shoved the USSR into Bretton Woods. Gold in exchange for paper. 2008 - Soap bubble. The US pulled a trick with ears, like with Japan. The US is still in chocolate. But Russia has become a bitter enemy. The circulation of the dollar in Rus' as a second currency was banned. 2014, Russia was kicked out of SWIFT, with 11% shareholding. This was real stupidity. Because the BRICS banking sector is much more attractive. Payments are more reliable, faster and not subject to sanctions.

[Huarabey]

It's high time this was done. It's truly absurd that some countries can ban trade with others. Why would anyone do that?

[AK-1945]

There's been so much talk about this, but nothing has happened yet. We'll see how it all plays out in reality; it's too early to start arguing.

[aleks.29ru]

The collapse of the dollar is certainly inevitable, but try paying anywhere in the world with rubles or a Mir card. And for a dollar, I'll kiss your ass... anywhere.

[Right hand of the eye]

BRICS member states are planning to launch their own payment system, independent of Western sanctions. This could become an excellent alternative for facilitating financial transactions between the member countries, which will create their own infrastructure for this purpose.

Excellent news! I've been waiting for something like this for a long time. God willing, God willing, that this initiative doesn't remain just a plan, but is implemented as soon as possible... Of course, the hegemon, the ruling elites of the entire collective West, will do everything to prevent this from happening. They'll resort to any crime and pressure, tricks and meanness, any bloodshed, etc., because the creation of such a currency, new means of payment, settlement systems, etc., independent of the dollar, will ultimately mean, if not its demise, then its transition to the status of a regional currency and the loss of control over the global financial system. Then Sam will lose his hegemony and dominance over the world.
It seems India will now be subjected to all sorts of pressure from the US and the West. But I hope, together with us, China, Iran, and others—countries that ultimately refuse to submit to a hegemon and preserve their sovereignty and independence—it and all of us will stand firm, overcome any pressure, and this initiative will finally become a reality.

[FoBoss_VM]

Planning does not mean starting.

[Jacques sekavar]

The chances are slim, but nothing is ruled out. If they can agree on a payment system, then the BRICS, Mercasury, SCO, and other associations could move to a single currency.

[Pravodel]

BRICS plans to launch independent payment system

Finally, we are ripening.
After creating such a payment system, we must immediately withdraw from the IMF, the World Bank, and other Western liberal financial traps, and also abruptly replace the leadership of the Ministry of Finance and the Central Bank of the Russian Federation with non-liberal, that is, patriotic leadership.
History
After the civil war, the USSR was completely deprived of any financial support and was under a complete blockade, but the USSR's GDP grew at a double-digit rate of 20.25% per year.
Russia is currently under economic blockade (not a complete blockade, unlike the USSR), but Russia's GDP is not only not growing, but, on the contrary, is falling. Therefore, those who proclaim and shout that GDP growth is the work of liberals are not only wrong, but, on the contrary, are blatantly lying. Under liberals, economic growth in Russia, even if possible, will be insignificant, with the subsequent inevitable fall due to economic overheating as the liberal gentlemen tell us from every iron.

[Ban Zai]

After the quote from the German publication: "the dollar will be left behind", you don't even have to read this opus😁, by the way, what German publication is this, the installation data is in the studio

[maximaniak]

Quote: Ban Zai

Ban Zai
(Ban Zai)
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After the quote from the German publication: "the dollar will be left behind", you don't even have to read this opus😁, by the way, what German publication is this, the installation data is in the studio

Was this line added to the news after you read it? "This was reported by the Berliner Zeitung newspaper."