Brics Countries, at Upcoming Summit in Russia, Will Weigh the Potential of a Gold-Backed Currency
Russia, the host of this year’s conference, is poised to push for a new payment system that could skirt Western sanctions.
From left, Brazil's president, Luiz Inacio Lula da Silva, President Xi, the South African president, Cyril Ramaphosa, Prime Minister Modi, and Russia's foreign minister, Sergei Lavrov, during the 2023 Brics Summit at Johannesburg, August 23, 2023. Gianluigi Guercia/pool via AP
