Maybe BRICS isn't making any fast moves to create a new currency, but at least two of the BRICS major nations are starting to do big trading without the oversight of the US or the USD.
Huge grain supply contract signed between Russia and China, shoring up China’s food supply for years to come
https://www.naturalnews.com/2023-11-15-huge-grain-supply-contract-signed-russia-china.htmlChina and Russia have signed a huge grain supply contract, bolstering their alliance in food as both nations confront rising challenges.
The contract between Beijing and Moscow amounted to almost 2.5 trillion Russian rubles ($25.8 billion) – the biggest in their food-trade history under the Belt and Road Initiative (BRI). The Russian state-owned news agency TASS confirmed this development, citing a Russian insider during the third Belt and Road Forum.
Karen Ovsepyan of the New Land Grain Corridor (NLGC) – a logistics center being created in Russia's Ural Mountains, Siberia and its Far East area to assist China-Russia trade – expounded on the deal. Under the contract, Moscow will sell 70 million tons of grain, legumes, and oilseeds to its southern neighbor. This comes as a benefit to Russia, which has been looking for more collaboration in Eurasia amidst Western sanctions arising from its invasion of Ukraine.
Ovsepyan said China, which has made food security a strategic priority amidst increasing food demand and a doubtful worldwide market, will receive the agreed-upon food over 12 years. She added that the corridor through which the food is to be delivered will be launched as soon as an intergovernmental agreement is signed. This could be in late November or early December, according to Ovsepyan.
The deal also introduced Russian state-owned Sberbank's invitation to China to consider accepting its low-carbon energy-certification system that seeks to aid its clients in decreasing their carbon footprint. Russia, in exchange, will assist in promoting a similar Chinese system in the Russian market, Sberbank Vice President Mikhail Susov announced at the fifth Russian-Chinese Energy Business Forum in the Chinese capital. (Related: New Energy Market Order: Russia, China, Iran sign over a dozen new trade agreements – mostly concerning energy.)
Susov remarked that the two nations should support each other in this regard, as "it is important to secure international recognition" of the energy certificates they issue. "This will enable counterparties from other countries, including China, to acquire Russian goods and resources with a lower carbon footprint, thereby promoting the transition to low-carbon energy sources," he continued.
China's trade with Russia surged by 27.7 percent this year...
