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The Kremlin responded defiantly on Monday to Donald Trump’s threats regarding BRICS nations and potential currency alternatives to the U.S. dollar, suggesting that any aggressive economic measures would only accelerate the shift away from dollar dependency.

The former president had issued a stern warning over the weekend, threatening to impose 100% tariffs on BRICS member countries if they pursued the creation or support of an alternative currency to replace the U.S. dollar.

While the BRICS alliance, which began with Brazil, Russia, India, and China before expanding, hasn’t established a shared currency, discussions about such a possibility have intensified following Western sanctions against Russia over its military actions in Ukraine.

Kremlin spokesperson Dmitry Peskov addressed Trump’s remarks by highlighting the growing global trend of nations moving away from dollar-based transactions. “More and more countries are switching to the use of national currencies in their trade and foreign economic activities,” Peskov told reporters.

He further warned that any attempts by Washington to force dollar usage through economic pressure would likely backfire, accelerating the transition to national currencies in international commerce. Peskov emphasized that several nations already view the dollar as a less attractive reserve currency option.

However, recent economic data suggests the dollar’s global dominance remains robust, bolstered by America’s strong economy, strict monetary policies, and increased geopolitical uncertainties, despite BRICS nations’ efforts to reduce dollar dependence.

The Atlantic Council’s GeoEconomics Center’s research this year reinforces this reality, demonstrating that neither European nor BRICS alternatives have successfully diminished the dollar’s position as the world’s primary reserve currency.