India and Russia abandon trade with the dollar

The general director of the Russian bank VTB, Andrey Kostin, indicated that they will soon be able to integrate the Rupay (Indian) and MIR (Russian) payment systems for exchanges

India and Russia, two of the founding countries of the Brics bloc, are working on an alliance that will allow them to abandon the use of the US dollar in their commercial transactions and replace it with their national payment systems.

This was reported by the general director of the Russian bank VTB, Andrey Kostin, in a press conference in which he stated that “the Brics must develop our own payment system that includes the global south and that allows us to carry out transactions in our own national currencies. ”.

The official added that “India has a positive attitude towards cooperation with Russia,” so they will soon be able to integrate the Rupay (Indian) and MIR (Russian) payment systems for exchanges.

“We will make some progress taking into account the complexities that exist,” he stressed, at a time when the bloc is moving in different directions, including the possibility of creating its own parliament, as advanced by the president of Russia, Vladimir Putin in a forum.