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De-Dollarization: 2 Countries Mutually Abandon the US Dollar For Trade
De-Dollarization: 2 Countries Mutually Abandon the US Dollar For Trade
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Over the past few years, several nations have been working together to reduce the dominance of the US dollar. This initiative, known as de-dollarization, has gained popularity as countries aim to decrease their reliance on the dollar. They are using local currencies or other alternatives for trade and reserves. The BRICS nations, including Brazil, Russia, India, China, and South Africa, have been key players in this movement. Recently, Russia and Iran have decided to sign a comprehensive defense agreement that avoids using the US dollar, further strengthening their military ties and challenging Western influence.
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