Russia Advances BRICS Plan to Reduce USD Dependency in Trade
Russia has formally outlined its strategy within the BRICS alliance to diminish reliance on the U.S. dollar for international trade. The initiative, framed as a defensive measure against Western sanctions, emphasizes expanded use of national currencies for settlements. Russian Foreign Ministry spokesperson Maria Zakharova confirmed ongoing efforts to establish the necessary infrastructure for this transition during a December 25th press briefing.
The de-dollarization push aims to insulate member states from external financial pressures while ostensibly promoting global monetary stability. Finance Minister Anton Siluanov characterized the MOVE as a pragmatic response to geopolitical realities rather than an ideological challenge to dollar hegemony. Implementation remains complex, with officials acknowledging the need for phased adoption across BRICS economies.
