Ayatollah Ali Khamenei<\/a> explained the motivation behind BRICS de-dollarization when he said:<\/p>\n\u201cOne of our problems today is being dependent on the dollar.\u201d<\/p>\n
When US President Trump threatened tariffs against countries accept BRICS Unit participants, Kremlin spokesperson Dmitry Peskov responded:<\/p>\n
\u201cMore and more countries are switching to the use of national currencies in their trade and foreign economic activities. If the U.S. uses force, as they say economic force, to compel countries to use the dollar it will further strengthen the trend of switching to national currencies.\u201d<\/p>\n
The economic implications are substantial. BRICS members account for around 40% of global GDP in purchasing power parity terms. This represents more than half the world\u2019s population. With Iran, UAE, and Saudi Arabia as members, the group controls nearly half of oil production worldwide.<\/p>\n
Timeline and Implementation<\/p>\n
While prototypes are being tested, a fully operational financial trading platform using the Unit may not become reality until 2026-2027. The gradual rollout allows participating nations to bypass the SWIFT network and US dollar conversion fees, which is why countries accept BRICS Unit frameworks for international settlements.<\/p>\n
The shift means that countries accept BRICS Unit as a way to lower transaction costs, protect against sanctions, and hedge against fiat currency volatility through the 40% gold backing. The dollar will fall in its role as the dominant international trade currency as more nations adopt this alternative settlement mechanism and move toward a multipolar monetary system.<\/p>\n","protected":false},"excerpt":{"rendered":"Countries accept BRICS Unit as an alternative to dollar-dominated trade, and this shift is gaining momentum right now.…\n","protected":false},"author":2,"featured_media":457678,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,294,99,235675,164,5300],"class_list":["post-457677","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-brics","tag-business","tag-de-dollarization","tag-economy","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/457677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=457677"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/457677\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/457678"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=457677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=457677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=457677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}