Kremlin Dismisses Trump's BRICS Tariff Threat

The Kremlin disregards U.S. President Donald Trump's threat of tariffs should BRICS create its own currency, clarifying that BRICS aims to establish joint investment platforms, not a common currency. Despite Trump's warnings, key BRICS members, Russia and India, assert no intentions for de-dollarisation or adopting a single currency.

In a significant geopolitical development, the Kremlin on Friday dismissed recent threats from U.S. President Donald Trump concerning tariffs on the BRICS nations. The remarks came following Trump's assertion that punitive tariffs could be levied if the coalition developed its own currency.

Responding to Trump's Thursday statement, Kremlin spokesperson Dmitry Peskov clarified that BRICS, which includes Russia, has no plans to establish a singular currency. Instead, the focus remains on creating joint investment platforms. Peskov emphasized the repeated nature of Trump's comments since his time as president-elect, stating that the BRICS agenda does not prioritize a common currency.

India, another key BRICS member, reiterated the absence of plans for currency de-dollarisation. Relations between India and the U.S. remain strong, with ongoing talks for an early visit of Indian Prime Minister Narendra Modi to the U.S. This backdrop occurs as BRICS explores further trade in national currencies amidst Western sanctions on Russia.

(With inputs from agencies.)