BRICS members agree to explore the creation of an independent cross-border clearing and deposit infrastructure, BRICS Clear The document states that this initiative should complement the existing financial market infrastructure and reinsurance potential of BRICS. We see the feasibility of creating a BRICS platform for trading precious metals and diamonds, which will help combat over-regulation of this market, said Putin. Russia proposes to open a BRICS grain exchange, which over time could evolve into a full-fledged commodity exchange — Putin. The dollar is used as a weapon, and this is a big mistake — Putin. Russia is not fighting the dollar but is seeking alternatives, he added. BRICS countries are discussing the possibility of creating a banking system to reduce costs in commercial relations, said the President of Brazil. Silva emphasized that the creation of such a system would not replace national union systems. (Source : MM Market) #Geopolitics