In an exclusive interview from a prison room in Brazil, former Brazilian president Lula da Silva reveals: “BRICS was not created to be an instrument of defense, but to be an instrument of attack. So we could create our own currency to become independent from the US dollar in our trade relations."
“This was the logic behind BRICS, to do something different and not copy anybody. The US was very much afraid when I discussed a new currency and Obama called me, telling me, ‘Are you trying to create a new currency, a new euro?’ I said, ‘No, I’m just trying to get rid of the US dollar. I’m just trying not to be dependent.’”
For more information about the role of BRICS in undermining the dollar read chapter 5 of De-dollarization.