India’s Foreign Minister, Subrahmanyam Jaishankar, stated at an event in Doha, Qatar, on Saturday that BRICS countries have no intention of weakening the US dollar.
This comment highlights the group’s position on global economic dynamics, signaling that while BRICS nations are exploring alternatives to the dollar, their primary goal is not to undermine its value.
Jaishankar’s remarks came shortly after US President-elect Donald Trump threatened BRICS countries with 100% tariffs if they created or supported a new currency to replace the US dollar, according to Reuters.
“We had a good relationship, a very solid relationship with the first Trump administration, yes there were some issues mostly trade related issues, but there were a whole lot of issues on which Trump was very international, and i remind people that it was actually under Trump that the QUAD was restarted,” he said.
He also emphasized the strong personal bond between Prime Minister, Narendra Modi and President-elect Donald Trump, which has played a pivotal role in enhancing the bilateral relations between India and the United States.
“There a personal relation between PM Modi and Trump…Where the BRICS remarks was concerened. We’ve always said that India has never been for de-dolarisation, right now there is no proposal to have a BRICS currency. The BRICS do discuss financial transrations…US is our largest trade partner, we have no interest in weakning the dollar at all,” he added.
Jaishankar was speaking at the 22nd edition of the Doha Forum panel on “Conflict Resolution in a New Era,” where Qatar’s Foreign Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani and Norway’s Foreign Minister Espen Barth Eide were also in attendance.
Recall Trump last week, threatened to impose 100% tariffs on a group of nine countries if they attempt to create a rival currency to the US dollar.
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump wrote on social media on Saturday.
Major world powers China and Russia are part of the BRICS alliance, alongside Brazil, India, South Africa, as well as newer members Iran, Egypt, Ethiopia, and the United Arab Emirates.
