(Reuters) – Work on the BRICS settlement system will continue despite newly-elected U.S. President Donald Trump’s threat to impose 100% tariffs on countries trying to undermine the dollar, RIA news agency quoted a senior Russian official as saying on Friday .
Trump last week demanded that BRICS member states commit not to create a new currency or support another currency that would replace the US dollar or face 100% tariffs.
RIA quoted Russian Deputy Foreign Minister Alexander Pankin as saying that the BRICS was in fact working on a settlement system rather than a new international currency.
“Of course this will continue,” he said, referring to work on the planned system.
