Detaching bilateral trade from Western currencies could strengthen intra-member cooperation, according to Redge Nkosi Establishing a BRICS common currency is an ambitious long-term task, although a joint payment system for intra-member trade could easily be launched in the near term, according to Redge Nkosi, executive director and head of research at South African company Firstsource…

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Washington has eased sanctions on Russian agricultural products, including fertilizers, placed on Moscow over the crisis in Ukraine. The move aims to protect US farmers from a shortage of chemical products as food prices in the country continue to soar.