BRICS Nations Accelerate De-Dollarization with 70+ Cooperation Pacts
The International Municipal BRICS Forum in St Petersburg marked a strategic shift in global finance as representatives from 75 countries signed over 70 cooperation agreements. These pacts explicitly target reduced dollar dependency through local currency trade mechanisms.
Russia-China bilateral trade volumes now exceed $104 billion, demonstrating BRICS' growing economic gravity. The forum's focus on urban diplomacy and digital transformation signals a structural realignment in cross-border settlement systems.