Summary:
- The article discusses the development of a new payment system by the BRICS countries (Brazil, Russia, India, China, and South Africa).
- This new payment system, called the BRICS Payment System (BPS), is intended to reduce the countries' reliance on the U.S. dollar and provide an alternative to the SWIFT international payment system.
- The BPS aims to facilitate trade and financial transactions among the BRICS nations, potentially reducing the impact of Western sanctions and strengthening economic cooperation within the group.