BRICS: Russia Takes a Surprising Stand on the US Dollar After Trump’s Victory

The BRICS alliance has been on a tear for years now, pushing hard to end their dependence on the US dollar. The greenback has long been the instrument of American dominance—if you control the world’s reserve currency, you’ve got leverage that’s hard to beat. At least, that’s been the story until now. But in an unexpected move, Russian President Vladimir Putin, a supposed die-hard for de-dollarization, says Russia isn’t abandoning the dollar. He just doesn’t want to use it for payments.

In an interview on Thursday, Putin emphasized that Russia is not “anti-dollar” per se. It’s just done playing along with Washington’s rules. “Payments in dollars are decreasing,” he said. “Not too much, as of yet, but as a means of savings, it’s going down step by step. Very gradually, it’s shrinking, it is a trend.” Putin called the dollar a “pillar of US power,” but made it clear that any erosion of that power is America’s own doing. He’s effectively saying: keep your dollar if you want—but we won’t be shackling our transactions to it.

The Slow Road to a BRICS Alternative

While Putin's keeping his distance from the dollar, he’s not cutting it out cold-turkey. Meanwhile, BRICS keeps working behind the scenes, quietly setting up a unified payment system rooted in each member nation’s infrastructure. The goal? A powerful new system that routes around SWIFT and the dollar altogether. According to Putin, this system will be “using the groundwork of the systems in each country in the exchange of financial information.” For BRICS, it’s a foundation for financial autonomy—a way to challenge Western financial dominance without triggering an immediate showdown.

And make no mistake: BRICS knows the West is watching. Every step toward a BRICS-led financial network is a direct hit to American supremacy. The fewer countries tied to the dollar, the fewer sanctions the US can unilaterally enforce, the less control Washington has over international trade.

Trump’s Return: A Wild Card in the BRICS Plan

Earlier this year, Donald Trump hinted he’d consider lifting certain sanctions and encouraging wider use of the dollar if he made it back to the Oval Office. Well, he’s back, and it’s got the world on edge. Russia and China have already signaled they’re willing to talk to Trump. Whether this means BRICS and the dollar can coexist, or whether BRICS will ultimately stick to the dollar as a mere backup, remains to be seen.

One thing is clear: BRICS isn't betting on the dollar’s death just yet. The bloc’s stance is more “use it when convenient, ignore it when not.” This is tactical, not ideological. Because while de-dollarization makes headlines, outright ditching the dollar? That’s still a step too far for now, even for Putin.

Final Thoughts

While BRICS inches toward a parallel financial system, the US dollar’s grip is slipping, slowly but surely. They don’t need a flashy dollar ban to make their point. They just need options, and that’s precisely what they’re building. As Trump re-enters the global game, the financial tug-of-war is only getting more intense.

It’s anyone’s guess how this plays out, but if you’ve been watching the walls close in on your freedom to spend and save as you wish, maybe it’s time to get prepared. Protect yourself against the next financial upheaval with Bill Brocius’ guide, “Seven Steps to Protect Yourself from Bank Failure.” Download it now and safeguard what’s yours: Download Here.