Russian media outlet RT (Russia Today) issued a statement on its official Weibo account on Thursday, August 22, admitting that the news it published on August 17 claiming "159 countries will adopt the BRICS new payment system" was found to be false. RT expressed deep regret for the dissemination of inaccurate information.
RT stated that it has removed the false news from all its platforms and will strengthen its news publication review mechanism to prevent similar incidents in the future and maintain the credibility of RT news.
"We sincerely apologize for the confusion caused to our readers and humbly accept the criticism from our media peers and scholars. RT will take this as a lesson and ensure that in the future, we provide true, accurate, and high-quality international news reports.
Thank you for your understanding and support," the post mentioned.
Earlier this year, in January, a report indicated that the Governor of the Central Bank of Russia, Elvira Nabiullina, stated that "159 participants from 20 countries" had joined the related system.
In December 2023, the European think tank "Modern Diplomacy" published a research article on the BRICS payment system.
The article pointed out: "The BRICS payment system itself is based on blockchain, which means it operates on a distributed ledger. It is not a central bank digital currency (CBDC) or cryptocurrency. It is designed as a digital service without a single accepted currency—it is designed to use the currencies of any BRICS member countries. The main goal is to reduce dependence on Western financial systems like SWIFT by bypassing the U.S. dollar and euro, facilitating trade and financial transactions among BRICS countries."
On July 30, 2024, the Russian State Duma passed a key bill allowing the use of cryptocurrencies in cross-border payments. This marks a major shift in Russia's attitude towards cryptocurrencies.
JinseFinance126 nations will attend the BRICS conference in Moscow, aiming to reduce reliance on the US dollar and promote local currencies, ahead of the October BRICS Summit.
Huang BoNabiullina, the governor of the Central Bank of Russia, said that she is discussing integrated payments with the BRICS alliance, and 159 countries have responded to join the new SPFS system.
MiyukiBRICS seeks to reshape global trade by reducing reliance on the US dollar, developing new payment systems, and expanding its membership to include countries like Egypt, UAE, and Malaysia.
ZeZhengChina cuts US Treasuries by $74B in a year, lowest since '09. Minor reductions by India, Brazil, Saudi Arabia. Russia-China trade shifts from dollar, CIS trade surpasses $100B.
EdmundSerbia may join BRICS, diversifying the alliance. Its economy is forecasted to grow, but structural reforms are needed. BRICS aims to reshape global trade.
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BerniceGlobal adoption of CBDCs, with over 130 countries involved, poses a significant threat to the US dollar's dominance in international finance. As the BRICS alliance advances alongside CBDC developments, 2024 emerges as a pivotal year defining the dollar's future amidst escalating de-dollarization efforts.
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