Only 1 BRICS Nation Backed to Topple the US Dollar—Here’s Why It Matters

The dollar's dominance faces a lone challenger from the BRICS bloc—and the financial world is scrambling to adjust.

The quiet power play no one saw coming

While analysts predicted a coordinated BRICS assault on dollar hegemony, just one member has gained serious traction. The rest? Still hedging their bets like Wall Street during a crypto rally.

Why this changes everything (or nothing)

Single-country endorsements rarely move markets—unless they’re backed by gold reserves and oil exports. This one ticks both boxes while the Fed watches from the sidelines, clutching its inflation charts.

The dollar won’t die quietly. But for the first time in decades, it’s sweating.

Only 1 BRICS Country Officially Endorsed To Dump the US Dollar

Out of the 10 BRICS countries, only Russia officially endorsed replacing the US dollar for all trade and transactions. The Putin administration most probably took the shots as their economy is reeling under the weight of US sanctions. The only way for their economy to fully open up and thrive is to do away with the USD. Even after multiple de-dollarization attempts, Russia has only been briefly successful in the agenda.

The US is also tightening the whip on all countries conducting crude oil transactions with Russia. The TRUMP administration warned India not to buy oil from Russia or face tariffs. The US President stood by his remarks and slapped 25% tariffs on India on Wednesday along with a penalty for buying Russian oil. This will further squeeze Russia and cause a crack in BRICS to not distance themselves from the US dollar.

The global trade is on a roller-coaster this year, with several countries facing tariffs from the US. Anyone trying to end reliance on the USD or indulge in anti-American policies is facing the heat. While Russia is the only BRICS country that called to replace the US dollar, the others are now thinking twice. The tariff hammer could fall harder, wreaking havoc on their economies that took decades to reach this position.