The article examines the features of the functioning of the global monetary and financial system under changing geopolitical conditions. The relevance of the research topic is обусловлена by the severity of issues related to the monetary and financial aspects of international financial and economic relations, which are not only local but also global in nature. The reasons for the unstable position of the global and national monetary and financial systems, aggravated by spontaneous economic and financial crises arising for various reasons, are identified. The current state and key priorities that should be addressed when substantiating the prospects for the development of the global and national monetary and financial systems in a fragmenting world are defined. The strengths and weaknesses of world reserve currencies are analyzed. The possibilities of applying the developed system of international settlements of Russia and the BRICS member states are presented. Possible future vectors of development of international financial and economic relations are substantiated.
International financial and economic relations; monetary and financial system; world reserve currencies; emerging economies; geopolitics; BRICS; Russian Federation.