Plans for a post Bretton-Woods monetary system is underway at the BRICS Summit in Kazan, Russia 🇷🇺 October 22-24.
🔹The joint communique of BRICS 🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦🇮🇷🇪🇬🇪🇹 member states support the improvement of the BRICS Contingent Reserve Arrangement (CRA) via envisaging alternative eligible currencies. The CRA is an important mechanism to forestall short-term balance of payments pressures.
🔹Members welcome the BRICS Interbank Cooperation Mechanism (ICM) focus on facilitating and expanding innovative financial practices, including finding acceptable mechanisms of financing in local currencies.
🔹The declaration recognized the widespread benefits of more efficient, transparent, safe, and inclusive cross-border payment instruments based on minimizing trade barriers and ensuring non-discriminatory access (alluding to Russia's exclusion from SWIFT).
🔹BRICS member states strongly oppose and condemn the practice of unilateral politically motivated sanctions that undermine the development of other countries. This was declared in light of October 23rd 2024, when the US 🇺🇸 stated its plans to (illegally) transfer $20 billion to the Kiev regime from the proceeds of Russian sovereign assets blocked by the West.
🔹Iran's president Masoud Pezeshkian called on member states to not continue depending on Western payment systems. This is a big threat," he said and called for "creating alternative possibilities" in this field.
🔹BRICS members support further growth in the number of countries - shareholders of the New Development Bank (NBD) and expedited consideration of applications from association members.
🔹Russia signs agreements with China 🇨🇳 and South Africa 🇿🇦 on credit lines in national currencies.
🔹BRICS countries intend to increase the turnover of precious metals between the member states.
🔹BRICS members agree to take joint measures to oppose unilateral protectionist measures not compliant with provisions of the WTO.
🔹Egypt 🇪🇬 attaches great importance to the transition to financial settlements in national currencies within the BRICS group.
🔹 Russian President Vladimir Putin has proposed a BRICS investment platform to assist the economic growth of member countries and the development of the Global South and East. Partner countries would benefit from a significant increase of investment in areas such as technology, education, trade, and logistics.
Video Source: RT
🛢📈 — Reuters reports that oil is approaching $100 per barrel following the latest exchange of attacks between Americans and Iranians on oil tankers.
▶️The price of Brent crude has risen to $97.07 per barrel, while American WTI crude has risen to $92.28. In the past week, Brent has risen by 7.8%, while WTI has risen by nearly 10%.
▶️On Saturday, U.S. forces attacked three Iranian oil tankers, one of which was stationed near the island of Kharg, a key center for Iranian oil exports. In response, the Islamic Revolutionary Guard Corps announced attacks on three oil tankers in the Strait of Hormuz and three more U.S. ships.
▶️In this context, traffic through the Strait of Hormuz has sharply declined. Over the past 10 days, an average of only 10 cargo ships have transited the strait per day – the lowest level since May.
The WHO now states on its website:
Vaccination against COVID-19 can trigger multiple sclerosis through cross-reactive CD4+-T cells that recognize the spike protein of SARS-CoV-2 and myelin peptides.
In other words: Your own immune system destroys the nerve pathways and then attacks your brain and spinal cord.