BRICS Summit 2024 to regulate UnionPay and mir payment to ditch USD and SWIFT in 2025

Currently, it is being said that there is a possibility of other major developments in BRICS countries by 2025, which include BRICS Currency, Cross-border Interbank Payment Systems, Digital wallets, bulk electronic payment systems (BEPS), internet banking payment systems (IBPS), automated clearing house (ACH), and foreign exchange payment system (FXPS). However, the ongoing BRICS Summit 2024 will create huge economic, financial, currency, and trade opportunities for Russia and the world. Along with Xi Jinping, Narendra Modi, and the Russian President, leaders of guest countries are also participating in the Kazan BRICS Summit 2024, due to which Russia, China, and India are going to come out with big financial, economic, and currency solutions. However, the BRICS summit to be held inside Russia will create a big opportunity that can directly affect Russia and its economy. Recently, told that Russia and China are working on a huge international payment system that in the future will completely end the dominance of USD in Europe, the Middle East, and East Asia.

US Sanctions on multiple countries to stop the progression of BRICS 2024

Currently, we can see the possibility of a financial and economic impact on BRICS, in which the stocks of most US companies, government banks, inter-banking payments, and electronic USD payment systems can be affected the most. Now it is being said that US sanctions can directly affect the economy of Turkey, the European Union, India, France, Germany, the Middle East, and China. Because as of now, most of the US companies are China’s manufacturing, economic, and financial partners and if US sanctions are imposed directly on China then it is possible that it can affect China as well as countries all over the world. Because the US and China want to have the kind of economic, financial, and currency power that would force each other to overcome them for global dominance. However, along with China and Russia, other countries are also strengthening BRICS for their own economic, financial, and currency solutions. Currently, told that with the help of Chinese UnionPay, the Russian Mir Payment system, and India’s economic partnership, the Border Crisis can also be solved. However, Russia and China can get the most benefit from BRICS, which they can also make a big investment in the BRICS joint currency.