The American dollar has started losing its attractiveness as a reserve currency for many nations as movement for using of national currencies in trade is becoming increasingly common under the BRICS initiative.
The graduall losing value and dominance of the Dollar provoke the American President elect, Mr Donald Trump threatening sever punishment against any county dear to abandoned Dollar.
Trump made his statement over the weekend on Truth Social, in which he warned that countries attempting to abandon the dollar in favor of an alternative means of trade would face severe economic consequences.
In his response to Mr Triumph statement,the Russian foreign Minister Mr Dmitry Sergeyevich Peskov said, erosion of Dollar dominance is a “process gaining strength.” all over the world
This shift, Peskov noted, is not limited to BRICS nations but is a broader movement worldwide.
“The use of national currencies in trade is becoming increasingly common, as more states seek alternatives to the dollar, particularly in light of Western sanctions and the weaponization of financial systems”
Foreign Minister Sergey Lavrov has emphasized that such initiatives aim to shield countries from the economic influence of the US and EU.
BRICS previously comprised Brazil, Russia, India, China, and South Africa, and was expanded in January to include Egypt, Iran, Ethiopia, and the United Arab Emirates”
Russia has supported the development of the BRICS Bridge platform, designed to facilitate settlements in national currencies, including via digital channels
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