Trade with the economies of Southeast Asia and Latin America already accounts for more than 70% of Russia’s export-import transactions, and the share of settlements in national currencies under foreign contracts with them is about 90%, according to Alexander Pankin, the Russian Deputy Foreign Minister.

He emphasized that Moscow will continue to deepen cooperation with the countries of these regions at the international level during 2025, while the doors to BRICS and the EAEU remain open. In particular, the Eurasian Economic Union is counting on the active involvement of Nicaragua, which claims observer status, while a highlight will be the conclusion of an EAEU Free Trade Agreement with Indonesia.

Pankin was being interviewed by the Russian economic news outlet Izvestia, which the West has banned from viewing in its territories. Izvestia is the Russian version of the Financial Times and The Economist.

The interview is as follows:

IZ: What is the most important thing for you in the work of a diplomat? How do you see the ideal diplomatic worker? What qualities should he have?

AP: “The main thing in the work of a diplomat is probably, first of all, faith in one’s country. Belief that a diplomat is doing an important and necessary thing and doing it well, that this helps strengthen the image of Russia and consider our interests in the international arena. Ultimately, this promotes active cooperation with various countries, from which they, and the Russian people benefit.

The ideal diplomat has, to have the ability to listen and understand, speak and convey information and arguments. Psychologically, it is the ability to be prepared for unpleasant and complex conversations, show respect, never get personal, because the interlocutor-diplomat does the same work. And, of course, this is knowledge of the culture, way of life and traditions of the interlocutor, so as not to insult or violate his usual foundations. It is important to find a way out of seemingly deadlock situations, show ingenuity, reach compromises without compromising the fundamental interests of your country, and believe in what you say.

Is there such an ideal diplomat? Our President (Vladimir Putin) is a great diplomat. So is my boss (Russian Foreign Minister Sergei Lavrov). In general, we have a huge cohort of people in the Ministry of Foreign Affairs of the Russian Federation, and beyond, who are involved in public, public and top-level diplomacy.

We have honest diplomacy. Perhaps ideas about her have been twisted for many years, decades and even centuries. For example, I absolutely do not share the point of view that a diplomat thinks one thing, says the second, but does the third. Our partners value honesty in us. Maybe we don’t agree on what we can and can’t talk about, but we never seek to deceive.”

IZ: In rather difficult times for diplomacy, settlements in national currencies are of particular relevance. Thus, Russia, together with the central banks of the BRICS countries, is developing the BRICS Bridge settlement platform. Should we expect its launch in 2025? Was it possible to agree on the introduction of a single digital currency?

AP: “Significant attention during the Russian chairmanship of BRICS in 2024 was paid to the creation of a settlement and payment infrastructure that is equally accessible to all BRICS countries. We are talking about promoting practical initiatives proposed by Russia to create mechanisms for making cross-border payments, settlement, clearing and reinsurance infrastructure. The relevant departments continue to actively engage in this, including issues of connecting the financial markets of the BRICS countries and introducing new mutual settlement schemes. We expect that this work will continue during the current Brazilian presidency.

Today there is no talk of a single BRICS currency, although there is a lot of speculation and rumours. The main focus of attention of the participating countries is now aimed at creating conditions for the widespread use of national currencies in mutual settlements. All BRICS states are determined to achieve practical results and are ready to increase such interaction, with this intent confirmed at last year’s BRICS summit in Kazan last October.”

IZ: BRICS has recently been replenished with a new category of partner countries. Should we expect this list to expand in 2025? Do you admit that in 2025 or maybe within two or three years, BRICS will have new full members?

AP: “In accordance with the agreement reached at the summit in Kazan, since January 2025, Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda and Uzbekistan have become BRICS partners. Indonesia became a full member. We are convinced that the involvement of new like-minded people in the work of the association contributes to the formation of a fairer, more equal and multipolar architecture of international cooperation. During the period of the Brazilian Chairmanship, in agreement with all BRICS members, we will facilitate the involvement of partner states in cooperation with the members of the association where possible, — primarily in outreach and BRICS+ formats.

Of course, we cannot ignore the growing interest on the part of the world majority states in building interaction with BRICS. This confirms the attractiveness of our strategic partnership and the principles on which cooperation in the association is based. This is mutual respect, balance of interests and consensus. The doors of BRICS remain open, while increasing efficiency and consolidating the expanded strategic partnership remains a priority.”

Further Reading

What To Expect From BRICS 2025?