The inclusive growth of the BRICS could allow emerging countries and their populations to benefit optimally from the global economy. Such an ambition goes beyond wealth redistribution, however the commitments made in New Delhi remain difficult to measure.
The local currencies of the BRICS already allow Russia to settle 90% of its transactions with its alliance partners, according to the Kremlin. However, this figure neither represents a collective goal nor a promise by all member countries to abandon the dollar.
BRICS+ bloc nations would hold more than 6000 tons of gold, or 17.4% of official global reserves, according to an assessment by EBC Financial Group. China and Russia might concentrate about three-quarters of this stock. In a separate analysis, UBS projects the ounce to reach 5200 dollars by June 2027. These figures explain the growing interest in the yellow metal, however, they do not allow for a direct relationship to be established between BRICS+ acquisitions and the projection from the Swiss financial institution.
The greenback is increasingly losing ground within the BRICS alliance. Indeed, the use of local currencies in various commercial exchanges is now intensifying among the member states of the bloc. The reduction of their dependence on the dollar as well as the related costs of cross-border payments are the objectives thus set. This revolution then constitutes a new phase in the struggle for monetary sovereignty, while the US administration tries to safeguard the international power of its currency. The BRICS are gradually reshaping the global financial power relations, between dedollarization, sovereign digital currencies, and the American response.
Money transfers between countries remain a central topic for the BRICS. In Mumbai, the Governor of the Reserve Bank of India, Sanjay Malhotra, indicated that several avenues are being studied to facilitate these operations. Among them is the connection of CBDCs and fast payment systems. Discussions are still in their early stages. The main goal concerns mainly the reduction of costs. This reflection comes as India also seeks to strengthen the international use of its national currency.
The BRICS face a decisive summit in an unprecedented climate of tension. Gathered in New Delhi on September 12 and 13, 2026, the ten members of the bloc must present a common vision on strategic issues such as dedollarization and economic cooperation. The exercise promises to be delicate. Territorial rivalries between some partners, combined with commercial pressures from Washington, weaken the image of a united front. This meeting will determine whether the BRICS can still turn their ambitions into a real alternative to the dollar-dominated financial system.
The project of a monetary system capable of competing with the dollar has long been considered an unrealistic ambition of the BRICS. This perception is now wavering. Jim O'Neill, the economist who popularized the acronym BRIC in the early 2000s, now recognizes that the major emerging economies have the means to build a credible alternative to the monetary order dominated by the greenback. This turnaround comes as geopolitical tensions intensify and payment infrastructures are transforming at high speed.
The dollar is losing ground where it ruled uncontested for decades. In March 2026, Russia and Iran settled $214 billion in trade in Chinese yuan, confirming the acceleration of dedollarization led by the BRICS. Behind this monetary shift lies a strategic battle between Washington and Beijing for control of global trade. Energy commerce, geopolitical tensions, and the rise of the "petroyuan": the great powers are quietly reshaping the rules of the international financial system.
The great powers reveal themselves in crises, and BRICS may have just missed their moment. While the war involving Iran could have marked a turning point, the bloc remained silent, unable to display a common position. This silence raises questions about its real credibility in face of its global ambitions. Behind the image of a counter-power to the West, this sequence mainly exposes deep divisions and structural weaknesses that rhetoric is no longer enough to mask.
The BRICS are rapidly increasing their gold reserves. In a few years, their share of global stocks has significantly risen, reflecting a strategic shift. This movement takes place in the context of questioning the role of the dollar in the international monetary system. Behind these acquisitions, a trend is confirmed: several major economies seek to reduce their dependence on the greenback. This development could permanently alter the balance of financial powers.
The BRICS currency does not exist, at least not yet. While Lula ends speculation about a common currency, a much deeper transformation is happening quietly. Behind this denial, the major emerging economies are accelerating the overhaul of international exchanges, gradually bypassing the dollar. Between political discourse and financial realities, a new global monetary architecture is already beginning to take shape.
While geopolitical fractures weaken the global monetary order, a silent upheaval is taking place. The BRICS, supported by their allies, are taking control of gold. By concentrating nearly 50% of global production and strengthening their reserves, they move from contestation to action. This realignment is no longer speculation, as it marks the emergence of a financial counter-power capable of challenging the supremacy of the dollar and redefining global balances. Gold once again becomes a strategic weapon.
Faced with a colossal budget deficit and persistent Western sanctions, Moscow is ready to cross a historic milestone: issuing sovereign bonds denominated in yuan for the first time. More than a mere financial maneuver, this decision marks a strategic turning point towards a deliberate dedollarization and strengthened monetary integration with the BRICS. By betting on the Chinese currency, Russia aims both to stabilize its public finances and to structure a new circuit for its energy revenues outside Western channels.
The dollar, the cornerstone of the global financial system, once again finds itself at the heart of a geopolitical controversy. Donald Trump accuses the BRICS of wanting to undermine its supremacy. In response, the Kremlin firmly denies any intention of destabilization, stating that the alliance does not target any foreign currency. Behind this tense exchange, one question remains: are the BRICS quietly working to reshape the global monetary order, or is this an alarmist reading of the ambitions of this emerging bloc?
Faced with a global financial system dominated by Washington, the BRICS are accelerating the implementation of an alternative payment network: BRICS Pay. This project, supported by a bloc expanded to ten countries, aims to reduce dependence on SWIFT and US sanctions. More than a simple technical initiative, it is a strategic bet to reshape the global monetary order and assert financial sovereignty in a world that has become multipolar.
As economic tensions intensify between major powers, a dissenting voice challenges the dominant narrative in Washington. According to Boris Kopeikin, chief economist at the Stolypin Institute, the US trade deficit with China is not the result of a BRICS strategy, but rather a structural weakening of the American economy. This interpretation reignites the debate on the root causes of American imbalances in a world undergoing major reconfiguration.
American crude is losing ground. This week, the Indian Oil Corporation (IOC), India’s leading public refiner, turned its back on shipments from the United States to refocus on the Middle East and West Africa. This logistical rebalancing, seemingly technical, reflects a strategic shift: the rise of energy alliances within the BRICS, the decline of the dollar in oil trade, and the assertion of a new economic order.
While the West defends the supremacy of the dollar and the euro, Moscow and Beijing accelerate their divorce from these currencies. Vladimir Putin confirmed that Russo-Chinese trade is now conducted almost exclusively in rubles and yuan. This shift, supported by a spectacular rise in bilateral trade and a deliberate strategy, could mark a decisive step towards a multipolar financial order.
While the trade war intensifies, Beijing and Moscow show their determination. In July, their exchanges jumped to $19.14 billion, an annual record that contrasts with the gloom of the first half of the year. This rebound occurs as Donald Trump threatens China with new tariffs, after sanctioning India for its Russian oil purchases.
As global balances are being redrawn, the BRICS summit in Rio outlined the contours of a more pronounced multipolar influence. Behind the notable absence of Xi Jinping and Vladimir Putin, discussions led to concrete proposals: reform of international institutions, enhanced climate cooperation, and regulation of artificial intelligence. Less spectacular, but more strategic, this edition sheds light on the ambitions of the global South, while revealing the latent tensions that weaken the coherence of a bloc in search of credibility.
At the opening of the BRICS summit in Rio, Donald Trump reignited trade tensions, threatening to impose surtaxes on any country aligned with this emerging bloc. Facing a coalition that challenges American hegemony, the confrontation goes beyond tariffs to affect global power dynamics. The BRICS are intensifying their break from…
As the global geopolitical balance weakens, Rio will host a tense BRICS summit on July 6 and 7, 2025. Designed as a counterweight to the G7, the bloc struggles to embody the unity of the global South. Internal disagreements, Xi Jinping's absence, and Donald Trump's offensive comeback: the 17th edition illustrates less of a rise in power than a questioning of the strategic coherence among its members. In an era of multipolar ambitions, the BRICS are facing a crisis of legitimacy as much as a test of international credibility.
Rio is set to host a high-stakes BRICS summit, marked by two historic absences: Xi Jinping and Vladimir Putin. The Chinese president is withdrawing for the first time since 2013, while his Russian counterpart remains in the Kremlin, targeted by an arrest warrant from the ICC. At a time when the bloc wants to assert itself against the dollar and strengthen its influence, these withdrawals weaken the group's unity and raise doubts about its geopolitical trajectory.
Can the dollar lose its global supremacy? What was once speculation is now taking a concrete diplomatic turn. As the BRICS summit approaches in Rio, major emerging economies are placing local currency transactions at the heart of their strategy. This shift occurs within a context of growing geopolitical tensions and demands from the Global South for a more balanced financial system. Behind this dynamic lies a possible redefinition of the rules of global trade.
The economic center of gravity is shifting towards the South, and both Beijing and Moscow want to dictate the pace. Ahead of the BRICS summit in Rio, Vladimir Putin and Xi Jinping are unveiling an unprecedented initiative: a joint investment platform dedicated to global South countries. Designed as a lever of influence and emancipation from circuits dominated by the West, this announcement marks a key step in the construction of an alternative financial order led by emerging powers.
While Trump buries the digital dollar, Beijing is setting up its own on all continents. One click, one yuan, and finance trembles. The United States watches... gritting its teeth.
While Israeli strikes target sensitive Iranian sites and Tehran responds with missiles on Tel Aviv, the military escalation is redefining balances in the Middle East. However, a strategic absence intrigues: that of the BRICS. A newcomer to the bloc, Iran was counting on solid support against its sworn enemy. Yet neither Moscow, nor Beijing, nor New Delhi are committing. This silence exposes the limits of an alliance that Tehran saw as a counterweight to Western hegemony.
In the turmoil of global commercial reconfigurations, Beijing is advancing its pawns. China announces the complete removal of tariffs on exports from 53 African countries, expanding preferential access to its market. Behind this gesture lies a targeted diplomatic offensive as Washington, under the leadership of Donald Trump, reactivates protectionist levers against the continent. Africa, long peripheral in geo-economic arbitration, is becoming the epicenter of a clash of influences where industrial ambitions, strategic alliances, and narratives of sovereignty intersect.
A discreet yet massive shift is redefining the global monetary balances. Indeed, over 90 countries, led by the BRICS, are abandoning the dollar in their international exchanges. In its place, the yuan, the ruble, or the rupee are gradually taking over. This strategic realignment, far from being a mere technical adjustment, challenges the financial order built around the United States since the post-war period. A stated desire for economic sovereignty and a direct challenge to American hegemony over global flows are at the root of this movement.
On June 8, 2025, a tanker under American and European sanctions discreetly docked in Japan, delivering Russian crude to a local refinery. This act, far from negligible, reveals a silent fracture in the Western consensus on energy. While the G7 has been trying for two years to isolate Moscow, Tokyo prioritizes its energy security. This episode, both symbolic and strategic, could subtly reshape the lines of a transforming global energy order.