The head of the BRICS New Development Bank, ex-President of Brazil Dilma Rousseff confirmed the forced suspension of operations in Russia. Motivating this measure, she recalled that “the existence of an international financial system cannot be denied.” About this today, August 22, informs Financial Times.
Thus, Russia, which is part of the organization, is excluded from its banking system so that other BRICS countries can avoid sanctions and disconnection from the financial system of the world.
“It cannot be denied that the international financial system exists… You have to live with it,” said Dilma Rousseff.
EADaily recalls that the decision to establish the BRICS Bank was made in 2013. A year later, the countries of the association signed a formal agreement on it, but the official start of work took place on July 7, 2015.
Dilma Rousseff also stated that BRICS does not impose any political conditions by providing loans. But many experts see a clear contradiction in these words. The head of the New Bank and former president of Brazil clarified that the BRICS respects the policies of each country, and the financial institution is trying to differ from the IMF and the World Bank.
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2023-08-22 09:36:00
