Brazil Proposes to Abandon the Dollar

Brazil has proposed the creation of a unified BRICS currency to abandon the dollar, reports AgoraVox.

“The use of the dollar is becoming undesirable due to the tightening of the U.S. sanctions policy against two key BRICS countries, Russia and China,” writes columnist Alexandre Lemou.

In his view, the issue of creating a unified currency is becoming more pressing due to the imminent expansion of the union.

He noted that Brazil and South Africa are advocating for the introduction of a unified currency in connection with dependency on the U.S. dollar.

In March, Iran's Minister of Economic Affairs and Finance Ehsan Khandouzi expressed that the Shanghai Cooperation Organization and BRICS will play a crucial role in the global economy in the near future.