https://sputnikglobe.com/20250105/de-dollarization-over-half-of-countries-worldwide-embark-on-boycott-of-greenback-1121360399.html
De-Dollarization: Over Half of Countries Worldwide Embark on Boycott of Greenback
De-Dollarization: Over Half of Countries Worldwide Embark on Boycott of Greenback
Sputnik International
Russian Deputy Foreign Minister Sergey Ryabkov earlier said that during the country’s BRICS presidency, member states managed to achieve results in developing models of de-dollarization and formalize them in agreements.
2025-01-05T13:35+0000
2025-01-05T13:35+0000
2025-01-05T16:51+0000
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More than half of the countries across the world have declared a boycott of the US dollar, an analysis conducted by Sputnik showed. In 2024, 14 more nations embarked on de-dollarization, according to the analysis.Who are Supporters and Opponents of the Dollar?There are 94 states that did not introduce any restrictive measures against the use of the greenback, 46 countries that switched to making transactions in national currencies, and 53 countries that openly opposed the US currency, the research shows.As for the countries opposing the dollar, these mainly include former members of the socialist bloc, BRICS members, and their allies, plus the Italian-Russian Chamber of Commerce, which launched its own system of settlements in rubles.Why Will the US Add to End of the Greenback's Era?This year may see further developments related to de-dollarization, independent industry expert Leonid Khazanov told Sputnik.BRICS on Path to De-DollarizationRussian Foreign Minister Sergey Lavrov said late last year that the de-dollarization of the country’s foreign trade is underway, with about 90% of all mutual payments with China and about 50% with India being made in national currencies.Deputy Foreign Minister Sergey Ryabkov, for his part, praised BRICS members’ efforts to fulfill de-dollarization "through the use of mutual clearing schemes, a long-tested method that needs to be further developed and given a multilateral nature."
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more than half of the countries across the world, de-dollarization, boycott of the dollar, models of de-dollarization, brics members, national currencies
more than half of the countries across the world, de-dollarization, boycott of the dollar, models of de-dollarization, brics members, national currencies
De-Dollarization: Over Half of Countries Worldwide Embark on Boycott of Greenback
13:35 GMT 05.01.2025 (Updated: 16:51 GMT 05.01.2025) Russian Deputy Foreign Minister Sergey Ryabkov earlier said that during the country’s BRICS presidency, member states managed to achieve results in developing models of de-dollarization and formalize them in agreements.
More than half of the countries across the world have declared
a boycott of the US dollar, an analysis conducted by Sputnik showed. In 2024, 14 more nations embarked on de-dollarization, according to the analysis.
Who are Supporters and Opponents of the Dollar?
There are 94 states that did not introduce any restrictive measures against the use of the greenback, 46 countries that switched to making transactions in
national currencies, and 53 countries that openly opposed the US currency, the research shows.
As for the countries opposing the dollar, these mainly include former members of the socialist bloc, BRICS members, and their allies, plus the Italian-Russian Chamber of Commerce, which launched its own system of settlements in rubles.
Why Will the US Add to End of the Greenback's Era?
This year may see further developments related to de-dollarization, independent industry expert Leonid Khazanov told Sputnik.
"The US itself will contribute to promoting the rejection of the dollar due to the peculiarities of its policy. While declaring support for democracy wherever possible, Washington is in reality trying to impose its will on the world, trying to make all countries dependent on itself. This, as history shows, cannot continue forever," the expert pointed out.
BRICS on Path to De-Dollarization
Russian Foreign Minister Sergey Lavrov said late last year that
the de-dollarization of the country’s foreign trade is underway, with about 90% of all mutual payments with China and about 50% with India being made in national currencies.
Deputy Foreign Minister Sergey Ryabkov, for his part, praised BRICS members’ efforts to fulfill de-dollarization "through the use of mutual clearing schemes, a long-tested method that needs to be further developed and given a multilateral nature."
