BRICS nations are continuing their de-dollarization mission at a fast pace to eliminate the U.S. dollar-dominated financial system. Following expansion to ten nations in August 2023, the BRICS alliance has continued to practice trade in local currencies and the development of a BRICS currency to dethrone the US dollar in global markets. Now, BRICS countries are taking the next steps in multiple agreements to abandon all use of the greenback.
BRICS founding nations Russia and China have been the two leading nations in de-dollarization, agreeing to multiple deals in local currencies. According to Russian Prime Minister Mikhail Mishustin, the business ties between the two nations are booming, with bilateral trade turnover already reaching “$200 billion ahead of schedule.” Furthermore, the US Dollar has continued its 20-year decline amid the BRICS de-dollarization efforts, seeing…
