Russia Launches Full-Scale BRICS De-Dollarization Bombshell – USD Dominance Under Fire

Moscow pulls the trigger on a seismic shift in global finance. The BRICS alliance—Russia, China, Brazil, India, and South Africa—just declared economic war on the greenback.

The move? A coordinated dump of USD reserves that'll make Treasury secretaries sweat. No more begging for SWIFT access when you've got gold-backed alternatives and crypto bridges.

Here's the kicker: This isn't some theoretical future play. Russia's already settling trades in yuan, rupees, and even bitcoin (when nobody's looking). The dollar's exorbitant privilege just got a BRICS-shaped dent.

Wall Street's response? 'Nothing to see here' while quietly shorting emerging market debt. Classic finance bro move.

Russia Pushing For Major De-Dollarization Drive Among BRICS Members

The Minister stressed that Russia is pushing for BRICS countries to use national currencies for all trade deals. This includes settling payments in the Russian ruble, Chinese yuan, Indian rupee, and South African rand, among others. He revealed that these currencies can be an alternative to the Western-dominated financial world.

Our BRICS de-dollarization driveSiluanov stated.

He also revealed that Russia could suspend trading in the US dollar in the new mega de-dollarization drive. Wehe said. The Minister said that even if the US lifts sanctions on Russia, the Putin administration will not allow the dollar to become the main reserve currency in their central bank.

In addition, Russia aims to sign new trade deals with BRICS members on the condition of accelerating the de-dollarization drive. While China and Iran might agree to the policies, India, South Africa, and the UAE might remain on the sidelines. The three nations want the US-denominated assets to help their respective economies and GDP grow.