BEIJING, July 7 The BRICS countries are negotiating a single currency; its creation is unlikely in the near future, but movement in this direction is obvious, Russian Ambassador to China Igor Morgulov said on Sunday.
«We are leaving the space dominated by the dollar and developing the mechanism and tools of a truly independent financial system (BRICS — ed.),» Morgulov said on the sidelines of the 12th World Peace Forum in Beijing. 
According to him, a lot of work has been done within the framework of the BRICS New Development Bank, the mechanisms of conditional foreign exchange reserves of the BRICS countries and much more.
«»Negotiations are underway on a single BRICS currency. I don’t think that this is a matter of the near future, but the trend is obvious. We are moving in this direction, it is clear to us. I believe it will take some time, this is not the near future,” he said ambassador.
«Together with our BRICS partners, we are working to create a financial system that will be independent of any dominance by third parties. We are taking many steps in this direction,» Morgulov said.
First of all, he noted, more and more settlements between Russia and the BRICS countries are carried out in national currencies.
“»For example, trade turnover between Russia and China amounted to 240 billion (dollars — ed.), with 92% being realized in national currencies — rubles and yuan,» said the ambassador.
Russia became the chairman of BRICS for the coming year on January 1. It began with the accession of new members to the organization — in addition to the Russian Federation, Brazil, India, China and South Africa, it now includes Egypt, Ethiopia, Iran, the UAE and Saudi Arabia. After the accession of all new members, the BRICS membership expanded to 10 countries with a population of 3.6 billion people — almost half of the global total. These states account for more than 40% of world oil production and about a quarter of world exports of goods.