Putin calls for expanding local currency settlement and proposes the establishment of a new BRICS investment platform.

[Putin calls for expanding local currency Settlement and proposes to create a new BRICS investment platform] According to CCTV news, Russian President Putin attended the 17th BRICS leaders' meeting via video on July 6 local time. In his speech, he proposed multiple initiatives, including establishing an independent Settlement and accomplice system on the BRICS platform, and vigorously promoting the expansion of local currency Settlement. Putin stated that in 2024, the proportion of rubles and currencies from 'friendly countries' in Russia's Settlement with other BRICS countries has reached 90%; at the same time, he advocated increasing the scale of bilateral investment among member countries and proposed creating a new BRICS investment platform. In addition, Putin also proposed initiatives to establish carbon market partnerships, an investment arbitration center, a fair competition platform, and a permanent tax secretariat within the BRICS framework.