Putin Clarifies Russia's Stance on US Dollar Within BRICS Alliance After Trump's Victory

Russian President Vladimir Putin has clarified Russia's stance on the US dollar within the BRICS alliance.

Despite ongoing discussions about de-dollarization, Putin stated that Russia will not completely abandon the US dollar but will "simply refuse to use the dollar as a settlement tool."

This decision comes in the wake of Donald Trump's return to power, which has sparked various geopolitical speculations.

The BRICS bloc, comprising Brazil, Russia, India, China, and South Africa, has been vocal about reducing reliance on the US dollar, which is often seen as a "pillar of US power." Putin emphasized that the US is "undoing this power" through its own actions.

He noted that while payments in dollars are decreasing, this shift is happening "very gradually," indicating a long-term trend rather than an immediate overhaul.

BRICS is actively working on developing a unified payment system that leverages the existing financial infrastructures of its member countries.

This initiative aims to promote financial autonomy and challenge Western hegemony by encouraging trades in local currencies. Putin highlighted that these efforts are not aimed against the dollar per se but are a response to the evolving global economic landscape.