BRICS has a great potential for new members to join, Russian President Vladimir Putin said during a plenary session at the St. Petersburg International Economic Forum (SPIEF).

According to him, the willingness of interested partners to develop contacts with the association is welcomed and will be supported.

The leader said Russia will increase settlements in national currencies with other countries. 

“The share of the ruble in export and import transactions is approaching 40 per cent. It has tripled in recent years”

Vladimir Putin Russian President

He specified that the creation of an independent payment system through BRICS is now being worked out.

The President noted that Russia has strengthened economic relations with Asia – by 60 per cent, with Africa – by 69 per cent, with Latin America by – 42 per cent. The country’s non-resource exports should grow by two-thirds by 2030.

“Russia is ready to offer other states a full-scale full-cycle technological partnership,” the president said. He noted that it is important to develop transport links to explore new markets.

The article is supplemeted.

Photo: screenshot of the live broadcast of the plenary session at SPIEF 2024