De-Dollarisation Campaign: India, Russia, China Tighten Grip Against USD – Will The Currency Survive?

Source: Zee News | Original Published At: 2025-12-05 01:55:03 UTC

Key Points

• BRICS nations are accelerating local currency trade, with India-Russia bilateral transactions now 90% in non-USD currencies.
• Putin showcased a prototype BRICS common currency during the 2024 Kazan Summit, aiming to create alternative financial systems.
• India will host the 2026 BRICS Summit, potentially solidifying trilateral economic alliances against dollar dependence.
• Reserve Bank of India's 2022 rupee settlement framework enabled 22 countries to open special rupee accounts for trade.
• Analysts suggest BRICS' de-dollarisation efforts could reshape global financial dynamics through reduced sanction vulnerability and regional currency alliances.