Diplomat Confirms BRICS Bloc Lacks Hostility Toward US Dollar
Russian Ambassador to India Denis Alipov confirmed during the NDTV Defense Summit that the BRICS alliance does not oppose the US dollar and that the currency remains secure within the bloc.
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 adopted an anti-Western tone or advanced an anti-Western agenda to drive policies.
Alipov confirmed that the US dollar will continue to serve as a principal currency for trade inside the BRICS bloc. He clarified that the coalition operates like any international organization aiming to serve its members’ needs, marking a total shift from the bloc’s active pursuit of de-dollarization that began 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 pointed out that although utilizing local currencies for commerce is a main objective, zero BRICS members have 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 underscored. Consequently, the alliance welcomes all payment methods and will not push any currency aside for trade, helping shield the US dollar’s dominance from any potential threats.
This stance was clear at the 18th BRICS summit in September in India, where not a single member nation discussed cutting off dependence on the US dollar. While conversations focused on boosting local currencies—a strategy remaining in place for five years—the supremacy of the US dollar stays secure, facing virtually no threat to its position as the world’s reserve currency.
Frequently Asked Questions
Is the BRICS alliance opposed to the US dollar?
No, Russian Ambassador to India Denis Alipov confirmed that the BRICS alliance is not opposed to the US dollar and that no member has spoken in an anti-Western manner.
Will the US dollar still be used for trade within BRICS?
Yes, Alipov confirmed that the US dollar will remain one of the primary currencies for trade within the BRICS bloc.
What is the stance of BRICS members on cross-border transactions?
While the alliance favors alternatives through national currencies, no BRICS member has opposed settling cross-border transactions in the US dollar.
Did the September BRICS summit focus on de-dollarization?
No, none of the member nations at the September summit in India spoke about ending reliance on the US dollar, though discussions regarding strengthening local currencies did take place.
Is the status of the US dollar threatened by BRICS?
The superiority of the US dollar remains intact, with little to no threat from BRICS to uproot its status as the world’s reserve currency.
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