Title: Siluanov: Russia Engages in Talks with BRICS Members to Establish Precious Metals Exchange

Russia's Finance Minister Anton Siluanov stated that the country is in discussions with other BRICS members to establish an international precious metals exchange. This initiative aims to ensure fair pricing and commercial growth. Siluanov noted that the mechanism would include creating price indicators for metals, standards for bullion production and trading, as well as tools for accrediting market participants, clearing, and supervision within BRICS. The BRICS precious metals exchange will compete with Western trading platforms like the London Metal Exchange and protect trade from Western sanctions imposed on BRICS members Russia and Iran.