BRICS End Game? Russia May Start Using the Dollar in New US Trade Deal

In a geopolitical twist that reads like a financial thriller, Russia is reportedly considering a pivot back to the U.S. dollar for a new trade agreement with the United States. The move, if confirmed, would mark a stunning reversal in the long-running de-dollarization narrative championed by the BRICS coalition.

The Strategic Pivot

For years, the BRICS nations—Brazil, Russia, India, China, and South Africa—have been vocal about reducing global reliance on the greenback. The goal was clear: create a multipolar financial system less susceptible to U.S. monetary policy and sanctions. Russia, in particular, accelerated its shift towards national currencies and alternative payment systems following sanctions imposed after its 2022 invasion of Ukraine.

The Practical Reality

Yet, the global dollar remains the ultimate liquidity tool. Its network effect—deep capital markets, universal acceptance, and entrenched infrastructure—is a formidable moat. Negotiating a major bilateral deal without it often means navigating higher costs, slower settlements, and complex currency-hedging labyrinths. Sometimes, pragmatism trumps ideology, even for geopolitically charged economies.

A Signal to Markets

This potential reversal sends a powerful message to global markets and digital asset proponents. It underscores the immense difficulty of displacing an incumbent reserve currency, even with concerted political will. For crypto advocates betting on a rapid decline of dollar hegemony, it's a sobering data point. The dollar's dominance isn't just about trust; it's about the sheer inertia of a system where everyone already uses it—a classic case of 'network effects' beating 'better technology' every time in the short to medium term.

Finance's oldest rule still applies: liquidity talks, and everything else walks. Even the most ambitious geopolitical projects can bend to the cold, hard calculus of transactional efficiency. The real 'end game' might just be the dollar's stubborn, expensive, and deeply inconvenient resilience.

BRICS: Trade Deal With the US To Bring Back Dollar Settlements in Russia

The Bloomberg report states that the WHITE House is considering gradually lifting sanctions on Russia. Almost all BRICS members, including Russia, are seeking new trade deals with the US after the tariffs. India recently bagged the deal with the Trump administration, highlighting the importance of America in the global trading sector.

A trade deal with the US can make Russia minimize Chinese yuan payments with BRICS member China. Also, the two countries have already settled close to 90% of deals in the Chinese yuan. The rest 10% includes the ruble and the dirhams, among others. The US-Russia proposal is yet to be made public and could realign the BRICS bloc’s de-dollarization initiative. Almost all member nations are cozying up to the White House to find a solution to bag bigger deals.