BRICS Not Opposed To the US Dollar, Confirms Diplomat
Russian Ambassador to India Denis Alipov confirmed during the NDTV Defense Summit that the BRICS alliance is not opposed to the US dollar and will continue using it for trade alongside local currencies.
During the NDTV Defense Summit, Russian Ambassador to India Denis Alipov affirmed that the BRICS alliance does not oppose the US dollar. He emphasized that during the September summit in India, no member nation expressed anti-Western sentiments or advanced an anti-Western agenda to drive their policies.
Alipov confirmed that the US dollar will stay positioned as one of the main currencies for trade within the BRICS bloc. He clarified that the alliance operates similarly to other international organizations by aiming to fulfill the needs of its members. This position marks a distinct shift for the bloc, which had actively pursued de-dollarization starting in 2022.
Also Read: BRICS De-Dollarization Could Be Serious in 2027 Under China’s Chairmanship
US Dollar is a Part of BRICS, Stresses Diplomat
Alipov noted that although utilizing local currencies for trade is a key objective, no BRICS member has objected to settling cross-border transactions using the US dollar. “It is an alternative to other global platforms and organizations, such as the G20, for example, and other international formats. And no one in BRICS has ever spoken in an anti-Western manner or promoted an anti-Western agenda,” he stated.
“The discussion about the use of the US dollar is very indicative in this regard. No one is opposed to the use of the US currency. We, the BRICS countries, favor having alternatives provided by the use of national currencies,” the diplomat underlined. Consequently, the alliance remains open to all payment methods and will not exclude any currency from trade, helping protect the US dollar’s dominance from any potential threats.
This stance was clear at the 18th BRICS summit in September in India, where none of the member states discussed cutting off their reliance on the US dollar. Conversations centered on reinforcing local currencies, a plan set for five years, while the standing of the US dollar as the world’s reserve currency faces minimal to no immediate threat.
Frequently Asked Questions
01Is BRICS against the US dollar?
No. According to Russian Ambassador Denis Alipov, the BRICS alliance is not opposed to the US dollar, and no member nation has promoted an anti-Western agenda or spoken out against using the US currency.
02Will the US dollar still be used in BRICS trade?
Yes, the US dollar will continue to serve as one of the primary currencies for trade within the BRICS bloc alongside national currencies.
03What did BRICS discuss regarding currencies at the summit?
Discussions at the September summit in India focused on strengthening local currencies as an alternative option for trade over a five-year period, without eliminating reliance on the US dollar.
