BRICS kick-started the de-dollarization process in 2022 to bring the U.S. dollar down from the world’s reserve currency status. The alliance wants to replace the U.S. dollar with local currencies for trade to strengthen their native economies. Developing countries are also fearful of U.S. sanctions and are looking to stabilize their currencies if such a situation occurs. Despite all these developments, Russia’s Foreign Minister Sergey Lavrov says that the BRICS bloc is not seeking global dominance.
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Lavrov said in a press conference that BRICS wants to create a multipolar world and is not looking at global domination. He criticized the U.S. for dividing the world based on financial strength and BRICS aims to reverse the course. The diplomat called the idea of a multipolar world a “developing historical process which cannot be stopped” at any cost.
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Lavrov retaliated claims that BRICS is looking for global domination to teach the U.S. and other Western allies a lesson. He stressed that BRICS will not isolate itself on the global stage and the question of dominance is out of the picture. Instead, he said that BRICS aims for justice and equality for all and will not divide countries on financial strength.
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The Foreign Minister criticized the U.S. for doling out incentives to countries that show loyalty to America. Lavrov stressed that BRICS will not indulge in financial favors simply because of receiving support from developing nations. The question of global dominance for BRICS through money and loyalty is out of the table, he said.
“Therefore, it is not BRICS that is engaged in isolating itself from the rest of the world. On the contrary, BRICS objectively emerged as a group of nations that are interested in justice in the international arena. The BRICS bloc is not seeking the role of some kind of pole. There will be many more poles in a polycentric world,” Lavrov said.