Major BRICS Strike Against the Dollar, US seeks to Get Russia back to SWIFT to Counter BRICS.
April 12th, UN spokesperson Dujarric announced that the UN was discussing the issue of Russia’s banks being allowed to rejoin the SWIFT payment system. The SWIFT payment system is one of the most crucial financial infrastructures globally. In February 2022, the US and other Western countries issued a joint statement that excluded some Russian banks from the system.
On April 13th, Brazilian President Luiz Inacio Lula da Silva visited the headquarters of the New Development Bank (NDB) of BRICS countries in Shanghai and attended the inauguration ceremony of Dilma Rousseff, the former Brazilian president, as the new president of the bank. In his speech, Lula questioned why all countries must settle their payments in US dollars and suggested that the NDB could use member countries’ currencies for loans, freeing them from traditional restrictions imposed by developed countries. Prior to Lula’s visit, China and Brazil had signed an agreement to settle trade in their own currencies. International media
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