BRICS: The US Dollar Has Become a Problematic Currency

On the heels of the 16th BRICS acme successful October 2024, Russian Foreign Ministry spokesperson Maria Zakharova called the US dollar a “problematic currency.” She said that the de-dollarization docket is not a extremity for immoderate nations, but a reality. While the inaugural took wings past year, it is present an ash-covered cinder that has taken a impermanent refuge.

Also Read: BRICS: Nobody Will Trust the US Dollar Again

The impermanent refuge to intermission de-dollarization comes aft US President Donald Trump threatened 100% tariffs connected goods from BRICS countries. This led to galore countries, particularly India and Brazil dropping the de-dollarization ideals and embracing the US dollar. The backtracking comes from threats and not retired of their ain will.

The main contented with processing countries was that the US was weaponizing the dollar for their benefit. Even erstwhile US Treasury Secretary Janet Yellen admitted that sanctions person led to de-dollarization. From pressing sanctions to ruining economies, the White House was ever looked astatine with disdain. This led to the emergence of de-dollarization and BRICS crafted an docket to topple the US dollar from its ascendant status.

Also Read: India Officially Dismisses BRICS Currency, Praises the US Dollar

BRICS vs the US Dollar

Source: Cryptopolitian.com

If angering them done sanctions was not enough, present enters tariffs. The existent concern is thing but a ticking clip weaponry that could detonate if the US continues utilizing this method. The choler against the US and the dollar volition lone summation starring to processing countries uncovering newer alternatives to extremity reliance connected the greenback.

Also Read: More Countries Ready to Join BRICS Alliance

The sanctions led to de-dollarization and dilatory the tariffs could pb to thing else. There is ever immoderate state trying to find caller methods to steamroll the USD and regenerate it with section currencies. If not BRICS, different confederation could travel guardant with an docket to thatch the US and the dollar a lesson. It mightiness not hap now, but could instrumentality its people arsenic the marketplace and system is dynamic.