Russia proposes Brazil to use its instant payment system PIX to circumvent U.S. and European sanctions -newspaper

PIX, was created by the Brazilian Central Bank to allow electronic transfers of any value between individuals, companies, and government agencies.

RIO DE JANEIRO, BRAZIL - The Russian government has proposed to Brazil that it change the trade structure between the two countries to circumvent economic sanctions imposed by the United States and the European Union, writes Brazilian magazine VEJA in its latest report.

Talks are ongoing but have not yet advanced to the stage of diplomatic negotiations.

One of the curious effects of the sanctions has been self-criticism by Brazilian and . . .

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