How BRICS Simplifies International Payments: What it Means for Business in 2025–2026

The BRICS financial architecture is moving from discussion to implementation: Russian banks and those in friendly countries are restoring direct correspondent ties and moving away from intermediary chains, reducing fees and payment times, as reported by PRIME. Simultaneously, tax administrations are strengthening service infrastructure for companies: the Federal Tax Service of Russia and the Federal Tax Authority of the UAE have signed a memorandum and are launching network tools to support taxpayers on the BRICS platform, as informed by Russian Emirates.

For companies, this means a transition from "workaround" routes to predictable direct financial corridors.

What Catalyzed the Acceleration of BRICS' Transition to National Currency Settlements?

The key trigger was the combination of the politicization of reserve currencies and BRICS' decisions to develop its own settlement channels and services. At the Valdai Discussion Club, South African economist Rasigan Maharaj referred to the dependence on a single country with privileged status and control over the reserve currency as increasingly questionable due to the use of currency instruments as a weapon, as written by Vzglyad. At the corporate level, this is complemented by a technological agenda: discussions within BRICS on the active creation of the BRICS Pay system and the introduction of national digital currencies, as reported by RSPP President Alexander Shokhin on Russia 24.

How Did Banks and Regulators on the BRICS+ Side Respond?

Banks have moved to restore direct correspondent relationships (Vietnam, India, China, and others), which already allows for settlements without intermediaries – faster and cheaper, as emphasized by PRIME. For exporters, this accelerates revenue inflow; for importers, it increases the predictability of delivery times and final prices.

Regulators are integrating support services. The Federal Tax Service of Russia and the Federal Tax Authority of the UAE have signed a memorandum, and within BRICS, a marketplace for digital tax solutions (BRICS Tax Collaboration Tool), a taxpayer support network, and a prototype tax knowledge base (BRICS Tax Knowledge Hub) are being deployed. The pilot exchange has already processed requests from 442 large Russian companies, as reported by Russian Emirates. Amidst institutional convergence, China's and Russia's trade turnover last year reached a record $244.8 billion, as indicated by Realnoe Vremya.

"The opportunity arises to conduct direct settlements without additional intermediaries. For exporters, this speeds up revenue inflow; for importers, it reduces procurement costs and makes delivery times predictable."

What Systemic Changes Does This Shift Lead To?

The main trajectory is the formation of parallel infrastructure: stable payment corridors, unified compliance and information exchange standards, and the strengthening role of the New Development Bank of BRICS in unifying settlement rules and trade credit lines, as noted by PRIME. At the payment "forefront" are central bank digital currencies and the discussed BRICS Pay ecosystem, linked to real assets, as spoken about by Alexander Shokhin.

The information agenda, however, is not uniform: a number of media scenarios for 2026 link reduced dependence on the dollar to the launch of blockchain-based settlement platforms in local currencies and an increased role for gold in reserves, as summarized by the publication Belnovosti. There is no consensus yet on the pace and form of transformation.

For businesses, the dispute about the "end of an era" is less important than the practical availability of new channels and the reduction of transaction costs today.

What Tactical Risks and Opportunities Exist for BRICS+ Companies in the Next 12–18 Months?

• Utilize direct correspondent channels with banks in Vietnam, India, China, and other partners – this reduces fees and speeds up settlements, as emphasized by PRIME.
• Connect to BRICS tax services (Tax Support Network, Tax Knowledge Hub) to expedite issue resolution and reduce administrative risks – the pilot has already processed hundreds of requests, as reported by Russian Emirates.
• Prepare processes and IT frameworks for integration with new payment platforms (including the discussed BRICS Pay solutions) and for pilots with central bank digital currencies. This will reduce the time to market for new channels.
• Conduct a review of compliance and data exchange (KYC/AML) for future unified standards within BRICS. Compatibility with rules will become a critical competitive advantage.

Financial "de-Americanization" within BRICS is not an instant rupture, but an accelerated assembly of its own infrastructure. Those who integrate into the new corridors and standards earliest will be the first to realize cost savings and maintain control over export-import timelines.