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Russia Initiates BRICS De-Dollarization Push, Eyes National Currencies for Trade
Russia Initiates BRICS De-Dollarization Push, Eyes National Currencies for Trade
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BTCCSquare news:
Russia has launched a concerted effort to steer the BRICS alliance away from the US dollar, with Finance Minister Anton Siluanov signaling potential suspension of dollar transactions. The MOVE underscores a strategic pivot toward national currencies—including the ruble, yuan, rupee, and rand—for cross-border trade within the bloc.
Siluanov framed de-dollarization as a cornerstone of BRICS policy, dismissing the greenback as unreliable even if US sanctions were lifted. The Kremlin plans to condition new trade agreements among member states on accelerated adoption of local currency settlements, challenging the dollar's hegemony in global finance.
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