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The US dollar is the cornerstone of American supremacy but the White House is killing the currency with its own hands, says Russian President Vladimir Putin. Former Fox But Putin, who recently appeared in a highly divisive interview with Tucker Carlson, seems to believe President Joe Biden’s administration has no one but themselves to Mr Putin wants the summit to advance plans for BRICS Bridge, a payments system that would use digital money issued by central banks and backed by fiat currencies. Putin accused western powers of “using the dollar as a weapon”, arguing in a speech at a Brics summit in Kazan that sanctions against Russia since its full-scale invasion of BRICS has been in discussions to create an alternative currency amid increased Western sanctions. President Vladimir Putin has claimed Russia never refused the In a recent interview, Vladimir Putin affirmed that Russia will not completely abandon the U.S. dollar, despite ongoing de-dollarization discussions within BRICS. Instead Putin said BRICS was aiming to use local currencies, not to create a SWIFT alternative. BRICS countries are expected to drive global economic growth but face challenges Expressing caution, Russian President Vladimir Putin himself said that a common BRICS currency was a “long-term prospect” and that “it is not under consideration” We analyze Putin's argument, based on the latest data in 2025, and how it reflects the changing role of the US dollar in the world economy. We also look at t Putin called the dollar’s drop in dominance “objective and irreversible,” in an address at the 15th BRICS Summit in Johannesburg via video link on Tuesday. Rich young

Is BRICS Killing the Dollar? Putin Claims US is Self-Destructing its Currency

The future of the US dollar is under intense scrutiny, particularly in light of growing de-dollarization efforts by BRICS nations. The US dollar is the cornerstone of American supremacy but the White House is killing the currency with its own hands, says Russian President Vladimir Putin. But are these claims accurate, and what's the real story behind BRICS' push for alternatives?

Putin's Argument: Weaponizing the Dollar and the Rise of BRICS

Putin accused western powers of “using the dollar as a weapon”, arguing in a speech at a Brics summit in Kazan that sanctions against Russia since its full-scale invasion of Ukraine have forced countries to seek alternatives. He isn't alone in this sentiment. The increasing use of sanctions by the US has led some nations to view the dollar as a tool of political leverage, prompting the search for alternative payment systems and reserve currencies. Former Fox But Putin, who recently appeared in a highly divisive interview with Tucker Carlson, seems to believe President Joe Biden’s administration has no one but themselves to blame.

BRICS' De-Dollarization Strategy: A Reality or a Distant Dream?

BRICS has been in discussions to create an alternative currency amid increased Western sanctions. This ambition is fueled by the desire to reduce reliance on the dollar and foster greater economic independence. Mr Putin wants the summit to advance plans for BRICS Bridge, a payments system that would use digital money issued by central banks and backed by fiat currencies. The goal is to facilitate trade and investment within the BRICS bloc using local currencies, rather than the dollar.

The Challenges Facing a BRICS Currency

Despite the aspirations, creating a viable BRICS currency faces significant hurdles. Expressing caution, Russian President Vladimir Putin himself said that a common BRICS currency was a “long-term prospect” and that “it is not under consideration”. This is due to the diverse economic structures and varying levels of development among BRICS nations. Achieving consensus on a single currency or a basket of currencies requires intricate negotiations and a high degree of economic harmonization. BRICS countries are expected to drive global economic growth but face challenges.

Russia's Stance on the Dollar: A Pragmatic Approach

In a recent interview, Vladimir Putin affirmed that Russia will not completely abandon the U.S. dollar, despite ongoing de-dollarization discussions within BRICS. Instead Putin said BRICS was aiming to use local currencies, not to create a SWIFT alternative. This suggests a pragmatic approach, acknowledging the dollar's continued importance in global trade while simultaneously pursuing diversification. Putin called the dollar’s drop in dominance “objective and irreversible,” in an address at the 15th BRICS Summit in Johannesburg via video link on Tuesday. Rich young

Analyzing the Long-Term Impact (Data 2025)

We analyze Putin's argument, based on the latest data in 2025, and how it reflects the changing role of the US dollar in the world economy. We also look at the ongoing shift in global power dynamics and the potential implications for the dollar's dominance. While the dollar remains the world's primary reserve currency, its share has been gradually declining, suggesting a multi-polar currency world is on the horizon. Whether BRICS can accelerate this trend remains to be seen, but the conversation around de-dollarization is undoubtedly reshaping the global financial landscape.

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