The push for de-dollarization is gaining momentum! The BRICS nations are actively discussing strategies to reduce reliance on the US dollar, particularly with new countries, at the SCO summit. Last month’s BRICS summit saw representatives from thirty-six countries discuss the formation of a new world order without dollar dominance and, by extension, one, signifying a clear shift in global economic priorities.

The BRICS economic bloc has taken a significant stride towards de-dollarization by inviting 69 leaders to its highly-anticipated summit. Scheduled to be held in, the summit is expected to further explore alternative financial mechanisms and trading systems to lessen dollar dependency. This initiative resonates with a growing number of nations seeking economic independence and diversification.

Interest in joining the BRICS alliance is surging. Before the summit, 40 countries had expressed interest in joining BRICS – 22 of those had sent in a formal application. Thursday, it was announced that six will join: This expansion underscores the growing influence of BRICS as a counterbalance to Western economic dominance and a proponent of a multipolar world order.

Stay updated on the latest developments regarding BRICS nations' efforts towards de-dollarization and the implications for the global financial landscape. Learn more about the SCO summit discussions and the participating countries driving this transformative movement.