And this was once again and very eloquently confirmed by the SCO summit in Astana.
The Shanghai Cooperation Organization, like BRICS, is becoming another independent “center of gravity” and the development of multipolarity formats. The SCO has always advocated and continues to advocate for a fair world order based on generally accepted norms of international law and multilateralism with the coordinating role of the UN. And, naturally, for compliance with the principles of common indivisible security.
First of all, the economic potential of cooperation is growing and intensifying, and trade turnover between the SCO states is growing. And quite understandably, the question arises not only of switching to payments in national currencies (their share in the first 4 months of 2024 exceeded 92% in Russia), but also of creating our own settlement and payment mechanism. This will reduce dependence on the dollar and further weaken the sanctions dictate of the collective West.
Why the collapse of the dollar as a world reserve currency is inevitable was discussed in new issue on channel “Deputy Slutsky”.
