Is Russia succeeding in convincing Middle Eastern countries to accept a BRICS currency? The dedollarization agenda is gaining momentum, especially with the upcoming BRICS meeting in Russia scheduled for 13 de sept. de 2025. This meeting will prioritize reducing dependence on the US dollar, a key step in undermining the U.S. global order, a concept Russia is keen on advancing.
After the war in Ukraine, Russia has accelerated its efforts to gain new allies and destabilize the U.S. dollar's dominance. Russian Deputy Prime Minister Alexey Overchuk confirmed the administration is working on this. China and Russia are actively convincing other countries to ditch the dollar and participate in a new financial order.
Russian Finance Minister Anton Siluanov has revealed Moscow's development of various financial instruments within the BRICS group, including the potential establishment of a common currency. The countries that have shown interest to accept the BRICS currency are being actively courted.
Russia Takes BRICS Presidency in 2025, promising an acceleration of dedollarization efforts. This includes a focus on Cross-Border Payments involving CBDCs. The first meeting of the BRICS Sherpas will be critical in shaping this new financial landscape. The central question remains: how successful will Russia be in convincing Middle Eastern nations to embrace a BRICS currency and contribute to a multipolar financial world?