Russian finance minister Anton Siluanov is anticipating the establishment of a new financial system to smoothen inter-currency payments and improve inter-depositary relations among BRICS countries, aiming to boost trade and economic ties.
Speaking with China Global Television Network (CGTN), Siluanov said he hopes to see the introduction of a BRICS payment system to facilitate capital movement among member states.
"It seems to me we need to create alternatives to the current system of payments and settlements. We're not talking about a single currency. We're not talking about a single owned payment unit. We're talking about the fact that money goes between our countries for goods, services, and capital too. That the capital could also be moved between our countries," said the Russian financial minister.
He also highlighted the importance of creating of inter-depositary relations among BRICS countries to reduce investment barriers.
"We see the need to create inter-depositary relationships between our countries so investors can invest money without hindrance, so the system of inter-depositary interaction between BRICS participants would work. There has been a proposal to do this on the basis of blockchain technologies and other modern technologies. This will be a step forward compared to the current systems between depositories," said Siluanov.
BRICS began with Brazil, Russia, India, China and South Africa, and has now evolved into an influential international cooperation mechanism with an expanded membership.
Other than the countries that officially joined the BRICS family on January 1, 2024, over 30 countries like Thailand, Malaysia, Türkiye and Azerbaijan have either formally applied for or expressed interest in membership.
The 16th BRICS Summit, which runs from Tuesday to Thursday in Kazan, Russia, marks the first in-person BRICS gathering since its expansion.
Siluanov emphasized the potential of stronger economic connections after the BRICS expansion.
"Indeed, the number of countries in our community has grown. This is good. We see that the economic potential of our community is growing. But the increase in the number of BRICS members is not in itself an aim. I believe we need to establish good economic ties, an uninterrupted settlement system and, accordingly, increase our trade turnover," he said.
Russian minister urges to spur inter-depositary interaction between BRICS countries
The three astronauts of China's recently-returned Shenzhou-20 mission on Friday shared the experiences of their dramatic 204-day space mission, including detailing the emergency procedures which were implemented to bring them safely home after their return capsule was struck by space debris.
The trio -- Chen Dong, Chen Zhongrui, and Wang Jie -- met with the press in Beijing on Friday afternoon, marking their first public appearance since returning to Earth in November.
When detailing the emergency response mechanisms which were enacted prior to their scheduled return, the astronauts explained that upon discovering a triangular crack on the spacecraft's viewport window, they immediately took photos for documentation and transmitted them to the ground team, who swiftly activated an emergency plan to get the trio home safely.
Experienced mission commander Chen Dong explained how the crew had complete faith in their colleagues on the ground to find a solution to these unforeseen circumstances which led to their return being delayed.
"First, we must trust the ground team, who would anticipate everything and develop the safest return plan for us. Second, we must believe in ourselves; as well-trained astronauts, we have the ability to manage various unexpected failures. I believe that with the collaboration of astronauts and researchers on the ground, our space home will surely go farther, more steadily, and for a longer time," he said.
Following their extended stay in space as a result of the debris incident, the Shenzhou-20 crew spent a total 204 days in orbit, setting a new record for the longest duration by a single group of Chinese astronauts.
During their mission, they completed multiple payload operations, conducted extensive scientific experiments, and carried out four extravehicular activities.
"Our crew worked together with the ground team in unity and coordination, completing four extravehicular activities, several payload entry and exit tasks, and a large number of scientific experiments. It was a fulfilling yet challenging mission. The path to exploring the heavens is long and arduous, but I firmly believe that China's space missions will succeed," said Chen Zhongrui, a former air force pilot who was making his first spaceflight during the mission.
"From the ground to space, from learning to application, I have deeply felt the solid progress of Chinese space endeavors and the quiet dedication of countless personnel behind the scenes. In the future, I will accomplish each mission with full commitment, living up to the trust of the motherland and the people," said fellow astronaut Wang Jie, who was also making his debut spaceflight.
After returning to Earth on Nov 14, the trio successfully completed their isolation recovery and rehabilitation and will now resume normal training following health assessments.
The crew's return, originally scheduled for Nov 5, was postponed due to safety concerns, with the astronauts later using the return capsule belonging to their successor crew of the Shenzhou-21 mission to get back to Earth. China later launched the unmanned Shenzhou-22 spacecraft which will serve the future return of the crew now aboard the Tiangong Space Station.
Shenzhou-20 astronauts share experiences after safely returning from debris incident
