BRICS Business Forum

Russian President Vladimir Putin chairs a meeting with members of the Security Council via teleconference call in Moscow, Russia, Wednesday, June 22, 2022. (Mikhail Metzel, Sputnik, Kremlin Pool Photo via AP)

Putin: New reserve currency proposed within BRICS

Russia’s Vladimir Putin unveiled a new scheme of international settlements, moving further away from the US financial system. In an address to the BRICS Business Forum Wednesday, he proposed a new reserve currency that will be used for payments in international trade.