Peskov: Why Russia and BRICS Turned Away from the Dollar

Source: In.gr | Original Published At: 2026-09-12 04:00:07 UTC

Key Points

• Kremlin spokesperson Dmitry Peskov said U.S. policies, including restrictions on Russia's use of the dollar in international trade, pushed BRICS countries toward transactions in national currencies.
• Peskov told Russia Today that Russia had to shift to settlements in its own currency and later found the system more effective.
• Russian Foreign Minister Sergey Lavrov said Russia does not oppose the use of the dollar in international settlements, but will not accept unfavorable trade terms if dollar use is impossible.
• The statements were made against the backdrop of the BRICS summit in New Delhi, which concluded with a joint declaration.
• The BRICS declaration promotes cross-border payments, settlements in local currencies, and plans for economic partnership.
• BRICS leaders called for greater participation of emerging markets and developing countries in global decision-making bodies, including the United Nations and international financial institutions.