BRICS’ de-dollarization agenda has a long way to go

Officials, including Russian President Vladimir Putin and Chinese President Xi Jinping, attend a plenary session in the outreach/BRICS Plus format at the BRICS summit in Kazan, Russia, Oct. 24, 2024.

BRICS leaders, including Russian President Vladimir Putin and Chinese leader Xi Jinping, have publicly voiced their commitment to jointly introduce an alternative payment system that would not be dependent on the U.S. dollar.