Not Direct Confrontation: BRICS Seen Able to Erode U.S. Economic Dominance Through Non-Dollar System

Source: TribunNews.com | Original Published At: 2026-09-16 01:57:45 UTC

Key Points

• BRICS cooperation in trade and finance to reduce dependence on the U.S. dollar may gradually erode U.S. economic dominance, according to Middle East analyst Dina Sulaeman.
• Sulaeman said BRICS' response to the U.S.-Iran conflict can include calls for restraint and diplomacy, while BRICS' economic strength can also create indirect pressure.
• She said BRICS has significant economic capital because its members combine large populations and substantial economic power.
• A joint BRICS position could have greater impact if implemented through trade and financial mechanisms.
• Sulaeman cited the possibility of BRICS building a common financial system or trade system that reduces dependence on the U.S. financial system, even without fully abandoning the dollar.
• Such alternative mechanisms could help countries facing U.S. pressure or sanctions continue transactions through non-dollar channels.
• She said the dollar's continued use as a major global currency sustains U.S. influence, but wider use of national currencies in bilateral trade could change that dynamic.