BRICS Bank Shifts Toward Local Currency Loans Amid US Sanctions

The New Development Bank (NDB), known as the BRICS bank, has disbursed $2.1 billion in loans denominated in local currencies, accounting for 22% of its total $10 billion lending portfolio. The institution aims to increase this share to 30% by 2026—a move that WOULD translate to $3 billion in local-currency loans if achieved.

This strategic pivot follows US sanctions against Russia, which remain in effect despite the political transition from Biden to Trump. The NDB has already issued loans in Chinese yuan ($1.8 billion) and South African rand ($284 million), with plans to incorporate the Indian rupee by 2026.

The de-dollarization trend reflects growing economic sovereignty among BRICS nations, particularly as geopolitical tensions reshape global financial flows. No cryptocurrencies or major exchanges were directly implicated in these transactions.