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The use of national currencies in trade between BRICS nations is accelerating, according to Russian President Vladimir Putin. Speaking on the growing shift away from the U.S. dollar, Putin revealed that in 2024, 90% of Russia’s transactions with partner states were conducted in rubles or other “friendly” currencies. This marks a significant milestone in the bloc’s push for greater financial sovereignty and de-dollarization. The BRICS alliance—comprising Brazil, Russia, India, China, South Africa, and recent new members—has long sought alternatives to Western-dominated financial systems. Watch.
