Is BRICS de-dollarization off the table? Recent reports suggest that a full-fledged de-dollarization strategy wont be on the summit agenda. While the BRICS bloc—comprising Brazil, Russia, India, China, and South Africa—appears to be moving away from the ambitious de-dollarization agenda that has been heavily discussed, the reality is more nuanced.

The upcoming BRICS Summit in Rio de Janeiro, slated for July, should be watched carefully. Although some speculate about a coordinated effort to dethrone the dollar, the prevailing sentiment points towards a more incremental approach. Despite the political grandstanding during the 2025 BRICS Summit, rather than seeking to replace the dollar as the world’s reserve currency, they are merely looking at disintermediating it as the primary medium for trade among themselves.

Many experts believe that complete de-dollarization is unrealistic in the short term. The BRICS nations, while aiming for greater financial autonomy, recognize the dollar's entrenched position in global finance. Instead, focus will likely be on promoting trade in their own currencies and exploring alternative payment systems. The discussions surrounding BRICS and its relationship to global financial power continue. Keep up to date with the latest developments as the BRICS nations navigate a shifting global economic landscape.