Patrushev puts capital outflow from BRICS states in past decade at $3.5 trillion

The West has been using financial institutions to put pressure on the member countries of BRICS (Brazil, Russia, India, China and South Africa), Russian Security Council Secretary Nikolai Patrushev has said

The West has been using financial institutions to put pressure on the member countries of BRICS (Brazil, Russia, India, China and South Africa), Russian Security Council Secretary Nikolai Patrushev has said.

"The West has increasingly been using international financial institutions as an instrument of pressure. Overall capital outflows from the BRICS economies have amounted to at least $3.5 trillion in the past ten years. Capital outflows in the past three years account for more than a half of this figure," Patrushev told the fifth meeting of high-ranking security officials from BRICS (Brazil, Russia, India, China and South Africa) countries in Moscow on May 26.

The group's five member countries are "in a zone of heightened risks", he said.

"The tendency of the past five years indicates that information pressure and attempts to artificially fuel national, religious and cultural disagreements will primarily be used to deter our countries," Patrushev said.

The BRICS New Development Bank is expected to help maintain the economic security of these five countries, he added.

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