On Thursday, the Ministry of Finance of the Russian Federation made their own official announcement. “The creation of a mechanism for trading metals within the BRICS countries will lead to the formation of fair and equitable competition based on exchange principles,” the Ministry said in a release, according to Russian news service Oreanda. The Finance Ministry added that they expect the BRICS Precious Metals Exchange “will become a key regulator of prices for precious metals.” https://www.kitco.com/news/article/2024-10-24/russia-will-create-new-brics-precious-metals-exchange-become-key-regulator