The former president and prime minister Dmitry Medvedev said that BRICS as an alternative bloc is capable of establishing a reserve currency other than the dollar or euro.
The BRICS group, which includes Brazil, Russia, India, China & South Africa, are not accepting the hegemony of the US; they want to take it down. One of the major goals is to add more members critical of the US-led western and oppose a unipolar world order.
A New World Reserve Currency
Since its inception in the mid-2000s, this group of major emerging economies has encouraged extensive cooperation among its members and, more recently, has begun to endorse a global reformation of geopolitical power to better match members' economic, geographic, and demographic prospects with their position in the international order, reported Sputnik News.
The former prime minister, the crisis in the eurozone has been brewing for some time and is a result of the voluntary crisis that Brussels drove itself into.
Dmitry Medvedev, who currently serves as the deputy chairman of the Russian Security Council, BRICS can be acknowledged as a significant reserve currency to better oppose the economic interests of the US and EU, noted Republic World.
He argued that by caving to US pressure and accepting Russian sanctions, members of the EU group willingly committed suicide.
All these states are paying the price for blindly following Washington; next is a decline in production; terrible inflation raises food prices; lack of economic competitiveness; and last is a lack of natural gas and freezing to death.
He continued by saying that sanctions won't bring Russia down; on the contrary, they will make this western-instigated global confrontation much worse. The Europeans are paying the price for the sanctions' reintroduction as the euro's value has decreased.
The Russian official claims that Washington and London purposely misled the helpless EU head by using lies. Additionally, the US only employed these "Useful European idiots" who willingly entered the fray while acting in the dark, citing Arab News 24.
But he claimed that the White House is playing a game using the EU to advance its goals.
Medvedev was dissatisfied that Europe's complacency allowed the influence of the Biden administration to bring about economic catastrophe.
BRICS Group of Nations
It is difficult to adjust to the changes caused by US sanctions that impact the economy. The official stated that dealing with industries and technological independence requires much work.
Medvedev's recent remarks contrast with his steadfast support for western integration in all facets of Russia in the 2000s.
The situation has changed, and the former Russian president said on Telegram that these people were "Russia-hating Western bastards and degenerates" after the US denied his son's visa.
The group comprised counter-west countries with China in the leadership meeting for their 14th summer in Beijing, agreeing on several actions.
They are to strengthen and reform global governance and safeguard international peace and security. It drew Iran, who desired to be a part of the counter-west bloc, a geopolitically significant region and a crossroads between the east and west.
Dmitry Medvedev asserts that the BRICS are in a unique position to create a reserve currency that, over time, will lessen western supremacy and the power of the US and its allies in the west.
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