Brics Pay vs. the Dollar: Is the US Losing Its Sanctions Power?
Cooperation areas
Source: Berliner Zeitung | Original Published At: 2026-02-12 16:25:44 UTC
Key Points
- BRICS countries are developing Brics Pay to bypass dollar-based financial systems and reduce US sanctions effectiveness
- India's central bank proposed linking digital central bank currencies (CBDCs) for BRICS nations, to be discussed at the 2026 Delhi summit
- The initiative focuses on technological interoperability rather than creating a single BRICS currency
- New members Saudi Arabia, Iran, and UAE could shift energy trade away from petrodollar dependence
- Russian experts warn BRICS nations challenging dollar dominance will face US pressure but emphasize practical implementation over symbolic gestures