The BRICS countries (Brazil, Russia, India, China and South Africa) Sanctions push BRICS states towards closer ties – Moscow

According to the finance minister, the “current crisis is man-made,” and the BRICS member states – Russia, Brazil, India, China, and South Africa – “have all the necessary tools to mitigate its consequences for their respective economies and the global economy on a broader scale.”

Siluanov says the current US dollar-based international financial system should be reformed to ensure “independence and continuity of economic processes.”

“The situation in the global economy has deteriorated significantly as a result of the sanctions. Bans on settlements, disruption of production and supply chains, export controls and import bans – all of these restrictions hit the global economy.”

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