At the 16th BRICS summit in Kazan, Russia unveiled a symbolic BRICS banknote, stirring debate over the US dollar’s dominance. Russian President Vladimir Putin emphasised that the dollar is being used as a ‘weapon,’ but BRICS isn’t rejecting the currency entirely, instead preparing alternatives for restricted access. India took center stage at the summit, advocating for local currency settlements among BRICS nations. The unveiling of the BRICS currency bill, featuring the Taj Mahal, added controversy, as the bloc explores challenging the US dollar’s global financial power.
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