According to Sergei Lavrov, chancellor of Vladimir Putin, Brazilian president was the original author of the idea of having an alternative means of payment to the dollar; This initiative has been criticized by Donald Trump, who threatens block with a tariff of up to 100%
Russian Foreign Minister Sergei Lavrov attributed the president the initiative to create alternative payment systems to the dollar to BRICS, a proposal made at the Johannesburg summit in August 2023. The statement was made in November 2024 during an interview with TV BRICSin which the Russian Chancellor said that Lula “It will ensure that this question is one of the priorities” of the Brazilian presidency of the block in 2025.
“It was President Lula da Silva, at the BRICS summit in Johannesburg last year, who began the debate worked by the Russian presidency on alternative payment systems.”Disse Lavrov. “As I said, there was progress, but it is necessary to take it to its logical conclusion so that ready-to-use mechanisms arise. I have no doubt that our Brazilian colleagues will dedicate the most energy to this issue. ”
Watch Lavrov’s speech:
The proposal to create payment platforms and interbank compensation mechanisms independent of the dollar has caused a strong reaction from the United States. In November 2024, US President Donald Trump (Republican Party), applying 100% rates against countries that created an alternative currency.
“The idea of the BRICS countries to move away from the dollar while we were stopped and watched it is over. We demand a commitment from these countries that they will not create a new BRICS currency nor will you support any other coin to replace the powerful US dollar or face 100% fares and can prepare to say goodbye to the wonderful US economy. US dollar in international trade – and any country you try to say goodbye to America ”on the social network that he himself created, the Social Truth.
In at least 2 other moments of 2025, in and in, the American spoke of taxing the BRICS countries by 100% if the group created an alternative currency to the dollar.
On Tuesday (8.Jul.2025), Trump that would apply 10% rates to the bloc countries. According to him, Brics tries “Destroy the dollar for another country to take the position and make your currency the new standard.”
“I’m just saying that if people want to contest [o dólar], They can, but they will have to pay a high price. And I don’t think any of them are willing to pay this price”Trump said at a cabinet meeting at the White House. The US President also said that the dollar is “rei” And that goes “Maintain it like that”. He also said he doesn’t consider BRICS “A serious threat”.
On the same day, Lula to threats after meeting with India Prime Minister Narendra Modi at Alvorada’s palace. “We do not agree when the president of the United States said it will tax the Brics countries”said the petista. “We are sovereign countries and we do not accept the intrusion of anyone. We do not want to be litigated, what we want is to make our countries progress.”
The republican already on Sunday (6.Jul) that any country that aligns with “BRICS anti -American policies” will be the target of extra taxation.
Read the full speech of Lavrov:
“I believe that the payments platform, the compensation mechanisms, the insurance mechanisms will be among the priorities of the Brazilian presidency. After all, it was President Lula da Silva, at the BRICS summit in Joanesburg last year, who began the debate worked by the Russian presidency on alternative payment systems. Finance in collaboration with the presidents of the central banks.
