Russian President Vladimir Putin ratified a document to establish a reserve fund for the BRICS countries. The new reserve fund is to hold $100 billion. The BRICS countries are the dynamically developing economies of Russia, China, Brazil, India, and South Africa, Pravda.Ru reports.
Russia is said to contribute $18 billion to the reserve fund. China promised to invest $41 billion. The agreement to build the fund was signed in July in Brazil.
In addition, the BRICS countries plan to build their own international bank to challenge western dominance over international money markets. The bank will be based in Shanghai.
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After the incident with the shootdown of the Ilyushin Il-20 reconnaissance aircraft over the Mediterranean Sea, Russia will supply an S-300 anti-aircraft missile system to Syria
Indeed, how dare they run US-independent policy? They should have followed the example of the European Union that turned independent states of the Old World into US-ditto entities