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BRICS member Russia is bypassing the US dollar and strengthening its native economy by accepting the local currency, the Russian Ruble for trade settlements. The BRICS member Russia is bypassing the US dollar and strengthening its native economy by accepting the local currency, the Russian Ruble for trade settlements. The share of Russia’s The BRICS allianceBrazil, Russia, India, China, and South Africa, alongside new members Egypt, Ethiopia, Iran, the UAE, and Indonesiais moving toward Russia Leverages Local Currency to Fortify Economy and Elude US Sanctions. In a bold move meant to bolster the national economy and sidestep US sanctions After BRICS, a new alliance has kick-started the de-dollarization process and is using local currencies for trade and not the US dollar. The Commonwealth of Russia and Iran have officially announced that 96% of their bilateral trade is now conducted using their local currenciesthe Russian ruble and the Iranian rial. This shift Russian President Vladimir Putin confirmed that 80% of trade between the two nations now bypasses the US dollar and settles in their local currencies. This move aligns with

BRICS Russia Settles 85% Trade in Local Currency, Sidelines US Dollar

The landscape of international trade is shifting, and Russia is at the forefront of this change. BRICS member Russia is bypassing the US dollar and strengthening its native economy by accepting the local currency, the Russian Ruble for trade settlements. This move signifies a growing trend towards de-dollarization and a bolstering of national economies within the BRICS alliance and beyond.

BRICS member Russia is bypassing the US dollar and strengthening its native economy by accepting the local currency, the Russian Ruble for trade settlements. This shift is not isolated. After BRICS, a new alliance has kick-started the de-dollarization process and is using local currencies for trade and not the US dollar.

The share of Russia’s trade settled in local currencies is rapidly increasing. This strategy is particularly evident in its relationship with Iran. The Commonwealth of Russia and Iran have officially announced that 96% of their bilateral trade is now conducted using their local currenciesthe Russian ruble and the Iranian rial. This shift illustrates the tangible progress being made in reducing reliance on the US dollar for international transactions. Russian President Vladimir Putin confirmed that 80% of trade between the two nations now bypasses the US dollar and settles in their local currencies. This move aligns with a broader strategy to insulate economies from external pressures and promote financial autonomy.

The BRICS alliance—Brazil, Russia, India, China, and South Africa, alongside new members Egypt, Ethiopia, Iran, the UAE, and Indonesia—is a key driver of this de-dollarization trend. Russia Leverages Local Currency to Fortify Economy and Elude US Sanctions. In a bold move meant to bolster the national economy and sidestep US sanctions, Russia's focus on ruble-based trade settlements is designed to build resilience and foster stronger economic ties with countries seeking alternatives to the dollar-centric global financial system. The move away from the US dollar isn't just about bypassing sanctions; it's about establishing a more equitable and multi-polar economic order. With 85% of some trade now settled in local currency, Russia is demonstrating the practical viability of a de-dollarized future, potentially setting a precedent for other nations seeking greater financial independence.

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