The Russian government is leading an effort to develop a new common currency to be used for international trade by the BRICS countries as an alternative to the U.S. dollar. The creation of this new currency will be one of the main topics of discussion at the BRICS summit in August and is said to be Russia’s attempt to avoid the impact of sanctions over the war in Ukraine. Should the BRICS countries succeed in creating a new currency, it will pose a big challenge to the dollar’s dominance as other emerging economies are looking to be part of the deal, including Saudi Arabia and Iran.

This question will resolve positively if a major news source, such as AP or Reuters, reports that two or more BRICS nations have agreed to create a new common currency by December 31, 2023. For this question to resolve, an agreement, not the new currency,  needs to be in place by December 31. An  agreement to work towards a common currency (or similar) would not be sufficient to resolve this question positively.