Overview

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BRICS is taking bold steps to reduce dependence on the US dollar and establish a multipolar financial system, as highlighted in the Kazan summit. Key initiatives BRICS plans to transform the international monetary and financial system, and debated potential policies at the 2025 summit in Kazan, Russia. Can it successfully BRICS countries say they seek to provide an alternative to the Western-led world order as they believe it is unfair, inequitable and exploitative. And the grouping has been BRICS is sharpening the axe to end the traditional financial world order that is dominated by the US and other Western allies. Developing countries are looking to create In 2025, as a whole, the BRICS ran a trade surplus, also known as a balance of payments surplus, of $387 billion – mostly thanks to China. The BRICS would also be Lula da Silva’s declaration that BRICS is resolute in its pursuit to end US Dollar dominance marks a notable moment in global economics. As the group seeks The recent BRICS Summit in Kazan, Russia, which produced the Kazan Declaration, demonstrates the emergence of a fairer world order. With the U.N. secretary-general in BRICS Cross-Border Payment Initiative (BCBPI) will use national currencies, not US dollar. Russia's finance ministry and central bank report details plan to transform During a summit in August 2025, leaders from Brazil, Russia, India, China, and South Africa (BRICS) convened to address pressing concerns surrounding the pervasive BRICS countries say they seek to provide an alternative to the Western-led world order as they believe it is unfair, inequitable and exploitative. And the grouping has been

BRICS: Building a Fair World Order and Challenging US Dollar Dominance

The BRICS nations are actively reshaping the global landscape, working towards a fairer world order and lessening reliance on the US dollar. This movement stems from a belief that the current Western-led system is unfair, inequitable and exploitative. And the grouping has been actively seeking alternatives.

BRICS Initiatives to End US Dollar Dominance

BRICS is taking bold steps to reduce dependence on the US dollar and establish a multipolar financial system, as highlighted in the Kazan summit. Lula da Silva’s declaration that BRICS is resolute in its pursuit to end US Dollar dominance marks a notable moment in global economics. As the group seeks BRICS plans to transform the international monetary and financial system, and debated potential policies at the 2025 summit in Kazan, Russia. Russia's finance ministry and central bank report details plan to transform the international monetary and financial system.

The BRICS Cross-Border Payment Initiative (BCBPI) will use national currencies, not US dollar, for transactions. Can it successfully BRICS countries say they seek to provide an alternative to the Western-led world order as they believe it is unfair, inequitable and exploitative. And the grouping has been exploring various mechanisms to facilitate trade and investment using their own currencies, bypassing the need for US dollar conversion.

The Kazan Summit and a Fairer World Order

The recent BRICS Summit in Kazan, Russia, which produced the Kazan Declaration, demonstrates the emergence of a fairer world order. With the U.N. secretary-general in attendance, the summit showcased the growing influence of BRICS on the global stage. The discussions focused on creating a more balanced and equitable international system.

BRICS' Economic Strength

In 2025, as a whole, the BRICS ran a trade surplus, also known as a balance of payments surplus, of $387 billion – mostly thanks to China. This economic power underscores the group's potential to influence global financial dynamics. The BRICS would also be a significant player in reshaping trade and investment flows.

Developing Countries Seek Alternatives

BRICS is sharpening the axe to end the traditional financial world order that is dominated by the US and other Western allies. Developing countries are looking to create more balanced global structures. During a summit in August 2025, leaders from Brazil, Russia, India, China, and South Africa (BRICS) convened to address pressing concerns surrounding the pervasive influence of the US dollar and the need for a more equitable global financial system.