BRICS Countries Deem US Dollar Less Important in Global Trade, Says Indian Expert

The vice chairman of the BRICS Chamber of Commerce and Industry, Sameep Shastri, has highlighted the economic bloc’s shift away from reliance on the U.S. dollar, opting instead to trade using their national currencies like the Russian ruble, Indian rupee, and Chinese yuan. He underscored the importance of economic self-reliance and the challenge to Western … Read more

India-Russia Oil Deals Chip Away at Dollar Dominance in International Trade

On Wednesday, Reuters reported that Western sanctions on Russia and oil trading between Moscow and India have started to erode the dollar’s decades-old dominance of international oil trade. The oil deals between India and Russia have been settled in other currencies, putting the U.S. dollar’s dominance in the oil trade under pressure. Sources Say Non-U.S. … Read more