BRICS has a confused monetization system that includes gold and the third-world currencies of its members. Some of the currencies have failed in the past. BRICS isn’t dead yet, and the dream of de-dollarization is alive. However, it’s on life support.
India has rejected the idea of one unified currency in BRICS and is concentrating on its own, while balancing it’s relationship with the US.
India has shown reluctance to align BRICS against the U.S., specifically by skipping joint naval drills and opposing efforts to turn the bloc into an anti-US platform.
That is why China and Russia are involved in BRICS.
President Trump has one deal with Russia that would bring them back into the dollar.
Like any deal Trump makes, he wants something in return. He wants Ukraine settled. Unfortunately, Zelensky won’t cede any land. Europe and some in Congress back the Ukrainian figurehead.
Poor Attendance at BRICS
The Financial Express reports that the recent BRICS summit in Rio de Janeiro was marked by low attendance from the founding members. That suggests a potential decline in the group’s relevance.
The leaders of Russia and China, key players in BRICS, were notably absent, suggesting a shift in their enthusiasm for the group.
This absence has led to concerns about the future direction of BRICS and its ability to address global challenges effectively.
Russia Wants Back in the Dollar
Russia is actively considering a return to the US dollar settlement system as part of a potential economic partnership with President Donald Trump, according to a 2026 internal Kremlin memo reviewed by Bloomberg.
Russia wants back into the US dollar settlement system as part of a potential economic partnership with President Donald Trump, according to a 2026 internal Kremlin memo reviewed by Bloomberg.
The big news is the dramatic economic reversal and Moscow’s possible re-entry into dollar-based trade, reports The Economic Times. Russia, China, India, and others are aggressively pursuing de-dollarization following Western sanctions and their removal from the SWIFT financial system in 2022. They don’t want to have that gun to their heads. Since then, Russia has shifted nearly 90% of its trade with China and India into national currencies.
The US-Russia Deal
The high-level document outlines a “fossil-fuel first” strategy. It puts the transition to green energy in the closet while Europe doubles down.
Under the proposed deal, the U.S. and Russia would transition from rivals to partners. This “Energy Dominance” partnership focuses on joint investments in natural gas and offshore oil exploration, as well as shared control over critical raw materials such as palladium and nickel, which are essential for American tech and aerospace manufacturing.
It suggests that since Russia is seriously considering it, the Kremlin might not be as enamored of its relationship with China as it might seem.
Having a mutually beneficial deal with Russia as opposed to trying to destroy them sounds good.
This is another reason why we must keep the House in November.
