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Brics Countries, at Upcoming Summit in Russia, Will Weigh the Potential of a Gold-Backed Currency 

Russia, the host of this year’s conference, is poised to push for a new payment system that could skirt Western sanctions.

Gianluigi Guercia/pool via AP
From left, Brazil's president, Luiz Inacio Lula da Silva, President Xi, the South African president, Cyril Ramaphosa, Prime Minister Modi, and Russia's foreign minister, Sergei Lavrov, during the 2023 Brics Summit at Johannesburg, August 23, 2023. Gianluigi Guercia/pool via AP
NOVI ZHUKOVSKY
NOVI ZHUKOVSKY

Russia, during the upcoming Brics summit at Kazan, is expected to push for a new international payment platform that it hopes would rival the current system of fiat money — and gold could be a crucial component of the new regime. 

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NOVI ZHUKOVSKY
NOVI ZHUKOVSKY

Ms. Zhukovsky studied economics and government at Dartmouth College.

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