BRICS nations may discuss the establishment of long-term payment systems for cross-border commerce at next month s summit in Johannesburg, according to the Russian Foreign Ministry. The organisation has been seeking to move away from the US dollar in mutual trade, as the de-dollarisation trend has accelerated following sanctions which have impacted the bloc. Restricted convertibility and higher volatility than the US dollar have hindered the use of national currencies in cross-border commerce, according to the ministry.
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