BRICS has condemned Western economic dominance and currency control tactics, accusing the West of using reserve currencies as “weapons” to maintain its monopoly.
BRICS Isn't Anti-West but Won't Tolerate Western Currency Domination, Russian Official Says
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BRICS Says No to Western Monopoly, Criticizes Currency Control Strategies
Russia’s Deputy Foreign Minister and BRICS Sherpa Sergey Ryabkov has clarified that the BRICS alliance is not intended as an anti-Western bloc and continues to welcome cooperation. Speaking after the BRICS summit in Kazan, Ryabkov stated unequivocally:
BRICS is not an anti-Western association. We say so outright. We call things by their proper names. We are open to cooperation.
He added that Russian President Vladimir Putin had reiterated this perspective, emphasizing that the group seeks open engagement but will firmly protect its members’ interests.
Ryabkov emphasized that BRICS nations will not tolerate any attempts to infringe on their sovereignty or dictate their economic policies, saying: “We will not allow anyone to disregard our interests and to try to lecture us, the participants in the BRICS association, which has already grown two-fold, on how we should live and what we should do, including in the sphere of cooperation in economics, finance, and trade.” His statement reflects BRICS’ commitment to economic independence and unified action across member countries, which now include additional partners, strengthening the alliance’s influence in global affairs.
Addressing what he sees as an attempt by Western countries to maintain economic dominance, Ryabkov criticized the West’s approach to currency control.
“We in the BRICS group have responded directly and straightforwardly to what has been happening around us in terms of destroying the normal basis for the functioning of the previously called global world economy, the world financial system,” he explained, emphasizing:
The West is trying hard to preserve its monopoly, its dominant positions and continues to use its reserve currencies as weapons in attempts to suppress the undesirable.
Ryabkov’s statements highlight BRICS’ response to what it views as economic imbalances imposed by the West and illustrate the alliance’s commitment to promoting a multipolar world order, where all nations have a voice in shaping global finance and trade.
