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Russian President Putin proposed a new "Bioeconomy" strategy for BRICS at the Moscow Future Technologies Forum, aiming to ensure that BRICS countries lead the global bioeconomy by 2050. The strategy focuses on collaboration in agriculture, pharmaceuticals, and energy, including areas such as resistant crops, bionic prosthetics, and biofuels. Putin emphasized joint projects within BRICS, which seeks to dominate the biotech market valued at an estimated $30 trillion by 2050. This move is expected to promote de-dollarization by prioritizing the use of domestic currencies for bioeconomy transactions.