Is the US dollar losing its dominance? A recent development in Bangladesh has fueled the debate. Bangladesh is set to make loan repayment for the Rooppur Nuclear Power Plant project to Russia in yuan, signaling a potential shift away from the greenback. This move, driven by US sanctions on Russian banks, has forced the two nations to find alternative solutions for financial transactions. Bangladesh is constructing the first of two nuclear power plants in collaboration with Russia's state-owned atomic company Rosatom in a $12.65 billion project. This complex financial arrangement highlights the increasing influence of the Chinese Yuan in international finance, particularly within the BRICS economic sphere.

The $12.65bn two-unit Rooppur NPP is being built by Rosatom in Bangladesh with a 90% loan from Russia repayable over 28 years, with a 10-year grace period. Russia has provided $11.38 million in loan for construction of the nuclear power plant in Bangladesh, and the project is being implemented by a contractor led by Rosatom. This latest payment in Chinese Yuan underscores how US sanctions are inadvertently pushing countries towards alternative currencies and strengthening economic ties within BRICS nations. The Rooppur Nuclear Power Plant, a significant infrastructure project for Bangladesh, is now at the center of a global financial narrative highlighting a possible decline in the US dollar's unipolar status.