Russia proposes regional measures against Western sanctions | News

Russian Foreign Minister Sergey Lavrov proposed this Friday a set of measures to face Western sanctions during the meeting of the Council of Foreign Ministers of the Shanghai Cooperation Organization (SCO). in sequence:

Iran and Russia seek to create an alternative financial system to SWIFT

The senior Russian diplomat specified that the parties established to propose to the leaders of the member countries an initiative on the use of national currencies and not linked to Western currencies in bilateral agreements, in order to strengthen the cooperation of the mechanism.

He noted that “everyone will think about it now. Africa already has this experience. There are common currencies in some sub-regional structures, but they are all linked to Western currencies in general”.

At the same time, the Russian foreign minister pointed out that “a logical step would be to somehow strengthen this free trade zone with monetary arrangements. I think this process will definitely move forward.”

Similarly, the head of Russian diplomacy assured that “any member of the global community, if he acts in any way that the Americans like or do not like, can fall under their sanctions.”

China’s Wang Yi, Russia’s Sergey Lavrov, India’s EAM S Jaishankar, Pakistan’s Bilawal Bhutto together during a call on with Uzbekistan’s President on the sidelines of Shanghai Cooperation Organization or SCO’s Foreign ministers meet

— Sidhant Sibal (@sidhant)
July 29, 2022

Accordingly, Lavrov stressed that “African countries and other SCO states are very aware” of this, while considering that it is an idea “firmly etched in everyone’s mind.”

The SCO was founded in June 2001 by the leaders of China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, joined by India and Pakistan in 2017 and Iran last year.

Disclaimer: Via Telesur – Translated by RJ983

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