Russian Official Questions Feasibility Of Trump's Tariff Threat On BRICS

According to PANews, Russian State Duma Deputy Chairman Alexander Babakov has publicly questioned the feasibility of former U.S. President Donald Trump's threat to impose a 100% tariff on BRICS nations. Babakov expressed skepticism about the likelihood of such extreme tariff measures being implemented, citing the interdependence of the global economy, the existence of alternative payment solutions, and potential internal opposition. In comments published in the Russian newspaper, Babakov elaborated that BRICS countries do not need to rely on a unified currency to achieve their economic objectives. He highlighted that multilateral payment platforms could serve the same purpose. Furthermore, Babakov emphasized the development of digital currencies, offshore rubles, and clearing systems as strategies to help BRICS nations decouple trade settlements from the U.S. dollar, countering its use as a political tool. Babakov specifically mentioned the critical role of distributed technologies like blockchain in designing and maintaining these settlement platforms, ensuring transparency and security in payments. He has previously stated that a unified clearing and trading platform would be essential for the economic sovereignty and independence of BRICS nations.