[Reverend Wright]

“But why doesn’t Russia trade in the Euro with India now?”

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Their stated goal is to do a stand alone BRICs currency.

I assume they would want to get some or most of the benefit of being the international currency. The problem is the convertibility limits on both the rupee and the yuan.

My guess is the BRICs will eventually figure out that they get some of what they want with the Euro (independence from the $US and the heavy handed economic sanctions and confiscations that go with it).

[Paul R.]

Haha - good luck with that, the Euros are heavier-handed with the sanctions than the US.

[Chad_the_Impaler]

“But why doesn’t Russia trade in the Euro with India now?”

The answer is sanctions. These affect both dollar and Euro settlement with Russia.

[Gunslingr3]

Their stated goal is to do a stand alone BRICs currency.

I don’t think they are as aligned as you seem to think. They certainly suggest otherwise:

Russia has also expressed interest in building an alternative payment mechanism with other BRICS (Brazil, Russia, India, China and South Africa) nations. But in July, India's foreign minister Jaishankar said "there is no idea of a BRICS currency."

[canuck_conservative]

a stand alone BRICs currency

you're living in a fantasy World

how can you get 50 different countries to agree on anything binding?

loopy non-binding climate declarations are one thing, but constricting economic arrangements are another matter entirely

and who's gonna be in charge of this alleged new currency? whatever country you pick - Russia, China, India - will piss off everyone else

Prediction - Canada will land on the moon before there's a BRICS currency ... US Dollar has nothing to worry about LOL