Speaking at the NDTV Defense Summit, Russian Ambassador to India Denis Alipov affirmed that the BRICS alliance does not oppose the US dollar. He emphasized that no member state adopted an anti-Western tone or pushed an anti-Western agenda during the September summit in India.
Alipov confirmed that the US dollar will continue to serve as a primary trade currency within the bloc. He noted that the coalition functions like any international body striving to meet its members’ needs, representing a distinct shift from the group’s active pursuit of de-dollarization since 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 trade is a key objective, no BRICS participant has objected to settling cross-border transactions in US dollars. “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 ambassador highlighted. Consequently, the bloc remains receptive to all payment methods and will not exclude any currency from trade, safeguarding the US dollar against any potential challenges.
This stance was apparent at the 18th BRICS summit in September in India, where none of the member countries discussed dismantling their reliance on the greenback. While conversations centered on bolstering local currencies—a strategy established for a five-year horizon—the supremacy of the US dollar remains secure, facing minimal to no threat to its position as the world’s reserve currency.