How BRICS Nations With Half the World’s Population Are Building a Future Less Dependent on the U.S. Dollar
They’re pushing to use more of their own currencies and new payment systems
One of the strongest signals from BRICS is the push to expand trade in local currencies instead of defaulting to the U.S. dollar. The bloc is actively working on new payment systems that reduce the need for dollar-based transactions. For example, instead of a Russian oil company billing in dollars, it could settle directly in yuan or rupees, saving time and cutting exposure to U.S. restrictions. This step is not only about economics—it is about freedom. For many BRICS members, relying on their own currencies means they can trade on their own terms without the constant pressure of outside influence.
The idea is to give the group more independence and make them less vulnerable to U.S. sanctions
China’s leadership has made it clear that the group will not just talk about de-dollarization but will actively work toward it. By stating that BRICS will take “every step,” Beijing is setting the tone for the bloc’s determination. This means building financial tools, forging new agreements, and supporting institutions that make dollar alternatives practical. For China, which already trades heavily in its yuan with partners across Asia, Africa, and South America, this move also strengthens its global financial footprint. For other members like Russia, the motivation is even stronger since sanctions have already forced it to search for non-dollar avenues.
BRICS is an 11-country bloc with half of the world’s population, and an explicit goal of cutting dollar dependence
The expansion of BRICS has been one of the most important developments in recent years. From the original five members, the bloc has now grown to 11, with Indonesia joining in early 2025 and Saudi Arabia preparing to sign on. This means BRICS now represents nearly half of the world’s population, making its voice impossible to ignore. When such a large part of the world unites around a financial goal, even small changes ripple across the global system. Cutting dollar dependence is no longer a theoretical ambition—it is becoming a practical strategy backed by countries that matter.
The bigger story here is about how the global financial landscape is changing. The U.S. dollar has been at the center of world trade for decades, acting as the reserve currency and the default choice for international deals. But the rise of BRICS shows that countries are no longer content to leave that dominance unchallenged. By trading more in their own currencies and setting up payment systems that bypass Western banks, BRICS is laying the foundation for a different kind of order.
Of course, the dollar is not going away anytime soon. It still accounts for the majority of global reserves and is deeply embedded in the international financial system. But history shows that when new powers grow, the old rules eventually shift. BRICS may not replace the dollar outright, but it is clearly carving out a space where alternatives exist. For investors, businesses, and governments, that means a more complex future where flexibility is key.
What stands out is the determination behind these moves. The combination of political will, economic weight, and demographic scale makes BRICS a unique force. Whether it succeeds in reducing dollar dominance will depend on execution, but one thing is certain: the conversation around the future of global finance has already changed, and BRICS is the reason why.