NFT News Daily TheBittimes.com

Russia purchased arms manufactured by its BRICS counterpart India by paying $4 billion in local currencies and not the US dollar. The Indian-made arms and equipment were procured by Russia citing ‘defense purposes’. The entire payment of $4 billion was cleared using the Rupee and the US dollar was left out from the transaction. Also Read: BRICS: Russia & China Presidents’ Meet to End US Dollar The deal came straight from the BRICS playbook of putting local currencies ahead of the US dollar for trade. The alliance is using every opportunity to strengthen the de-dollarization agenda and put local currencies to use in the markets. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. BRICS: India & Russia Settle $4 Billion in Local Currencies, Sidelines US Dollar Source: Pixabay Russia n officials settled the $4 billion arms deal payment using India ’s special Vostro bank accounts. BRICS member India has allowed ac...

BRICS members China and Russia are pulling the strings to free the world from the clutches of the US dollar. Chinese President Xi Jinping said in a press meeting recently that the “United States days of bullying the world are coming to an end” . There could be merit to the statement as BRICS successfully convinced other developing countries to ditch the US dollar. The alliance is making developing countries trade in local currencies and strengthen their native economies. Also Read: BRICS: Top Economist Says U.S. Dollar is ‘Getting Worse’ Read here to know how many sectors in the US will be impacted if BRICS ditches the dollar for trade. The US dollar is facing competition from all sides as developing nations are looking to uproot it from the world’s reserve status. The goal is to put local currencies in the forefront for cross-border transactions and push the US dollar second in line. Also Read: BRICS : India & Nigeria Finalize Major Partnership Ditching...

The BRICS alliance will announce the memberships of new countries in the upcoming 2024 summit. The upcoming 16th summit is scheduled to take place in the Kazan region of Russia in October this year. The alliance is expected to send invitations to new developing countries that have expressed their interest to join the bloc. Also Read: BRICS Supports Cryptocurrency for Global Trade, Not US Dollar As of April 2024, around 35 countries have expressed their interest to join BRICS . While some have formally expressed their interest by submitting the applications, others have informally expressed to join the alliance. In 2024 alone, three new countries came forward and submitted their application to be a part of the BRICS grouping. Read here to know the names of the three new countries that are ready to join the bloc this year. Also Read: BRICS Calls For Middle East to Ditch US Dollar BRICS: New Membership For Countries To Be Announced in The Upcoming October 2024 Summit ...

BRICS members India and Russia are moving in the opposite direction for crude oil sales and procurement in 2024. Watcher Guru previously reported that India is buying more oil from the US this year and keeping Russia at bay. The fallout occurred after Russia demanded India settle crude oil payments in the Chinese Yuan and not the Indian Rupee. The development did not sit well with India, as the country believed such a move would only strengthen the Chinese Yuan’s prospects. Also Read:  3 U.S. Sectors To Be Affected If BRICS Ditches the Dollar Additionally, the demand comes at a time when India is headed for the Prime Ministerial elections in May. Settling payments in the Chinese Yuan will only show the government in a negative light in the world’s largest democracy. For the uninitiated, India and China have been at loggerheads for decades and the two countries are engulfed in border disputes. Therefore, India decided to stop buying Russian crude oil for cheap and sideli...

BRICS and a handful of developing countries are reducing the US dollar intake in their respective Central Banks’ reserves. The US prints trillions of USD currency and disburses them around the world importing its inflation to other countries. Developing nations and BRICS countries bear the risk of debt and fund the US deficit by keeping the dollar in their reserves. If other nations stop hoarding the dollar, the currency will return to America leading to a deficit in the homeland. Also Read: BRICS: US Killing the Dollar With Its Own Hands, Says Putin While BRICS is limiting the dollar intake in their reserves, even US allies are now slowly following in their footsteps. The main concern to US allies is the mounting $34 trillion debt crisis that’s spiraling out of control. The $34 trillion debt will only hurt other countries who keep the US dollar in their Central Banks. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. ...

Former Fox News journalist Tucker Carlson interviewed BRICS country Russia’s President Vladimir Putin. The face-to-face interview conducted in Russia’s capital city of Moscow saw Carlson ask Putin varied questions about geopolitics. Carlson and Putin spoke about the ongoing war with Ukraine, conflicts in the Middle East, and the Red Sea, among others. The duo also discussed BRICS and its aim of pulling the US dollar down as the world’s reserve currency. Also Read: BRICS : 8 Banks Ban U.S. Dollar Transactions Ep. 73 The Vladimir Putin Interview pic.twitter.com/67YuZRkfLL — Tucker Carlson (@TuckerCarlson) February 8, 2024 Putin and Carlson’s video is also unedited and published without any cuts for the public. Carlson spoke about the US sanctions on Russia and the BRICS goal of uprooting the dollar. The two spoke about the de-dollarization initiative and how BRICS is spearheading the campaign. Read here to know how many sectors in the US will...

BRICS inducted five new countries in January 2024 including Saudi Arabia, the United Arab Emirates, Egypt, Iran, and Ethiopia. Argentina is the only country that rejected joining BRICS despite receiving an invitation in August last year. While BRICS is now a 10-member bloc, a new round of expansion is likely at the 16th summit in Russia’s Kazan region. The next BRICS summit will be held in October and Russia’s President Vladimir Putin confirmed that 30 new countries have now expressed their interest to join the alliance. Also Read: 5 U.S. Sectors To Be Affected If BRICS Ditches the Dollar For Trade BRICS: 30 New Countries Look To Join BRICS in 2024, Confirms Vladimir Putin Source: xinhuanet.com Russia ’s President Vladimir Putin confirmed in a recent press conference that 30 new countries have formally submitted their applications to join BRICS in 2024. If the bloc approves all the 30 nations’ applications, then BRICS could become a 40-member group. That...

When BRICS announced this year that they plan to dethrone the US dollar from the global reserve currency status, nobody took their ideals seriously. The alliance has now walked the talk and slowly changed the global financial dynamics one step at a time. Though the pace of De-dollarization is slow, BRICS are marching on the path of ditching the US dollar and putting their local currencies forward. Also Read: BRICS : India Unhappy After Russia Begins to Cement Ties With Pakistan Read here to know how many sectors in the US will be affected if BRICS stops using the dollar for trade. The traditional financial system will be altered leading the way to the new world order dominated by developing countries. The development will put the US dollar under pressure if countries begin to use local currencies for cross-border transactions. BRICS Slowly Chips Away US Dollar’s Global Dominance Source: energyintel.com / rustamxakim/ Shutterstock Firstly, China convinced a handful ...

The BRICS alliance kick-started the de-dollarization initiative this year and is finding multiple alternatives to end the U.S. dollar supremacy. From BRICS expansion, to plans of creating a new currency, and dumping U.S. dollars in the foreign exchange market, the bloc is trying it all. BRICS confirmed after the 15th summit in August that dethroning the U.S. dollar as the world’s reserve currency is their long-term goal. Therefore, even if they don’t succeed now, the alliance will relentlessly continue its quest of bringing the U.S. dollar down. In this article, we will highlight three ways in which BRICS could end the U.S. dollar supremacy. Read here to know how many sectors in the U.S. will be affected if BRICS stops using the dollar for trade. BRICS: 3 Ways How They Could Bring the U.S. Dollar Down Accepting Local Currencies For Oil and Gas Trade Source: Reuters / AFP BRICS inducting six new countries into the bloc is a strategic move to control the wo...

In the latest update, eight new Arab countries have formally submitted their applications to join the BRICS alliance. The number of countries that are expressing interest in joining the BRICS alliance is growing each day. Around 45 countries have already expressed their desire to be a part of the bloc. Also Read: BRICS Creating a New Currency to Replace the U.S. Dollar Is Laughable The developing countries are looking to ditch the U.S. dollar for global trade and use their native currencies instead. The move will strengthen their local economies, giving day-to-day businesses like imports and exports a big boost. In the latest update, eight new Arab countries have formally submitted their applications to join the BRICS alliance. BRICS: 8 Arab Countries Ready to Join BRICS Source: pakistantoday.com.pk South Africa’s Foreign Minister Naledi Pandor confirmed that 23 countries have officially applied to join BRICS. Among them, eight Arab countries are on the list that have...

The BRICS alliance will not discuss the formation of a new currency in the next summit in Johannesburg in August. The BRICS bloc will discuss expansion efforts and other bilateral issues and not the launch of a new currency that will challenge the U.S. dollar. Therefore, the threat of a BRICS currency taking over the U.S. dollar no longer holds water in the global financial markets. Also Read: 44 Countries Ready To Join BRICS Alliance The de-dollarization efforts fizzled out as challenging the greenback is not as easy as discussed. The dynamics to dethrone the U.S. dollar from the BRICS bloc won’t play out as the greenback commands a stronghold in the international markets. Whether it is BRICS currency or any other currency, the world’s top investor Warren Buffet predicted in 2015 the prospects of the U.S. dollar. Buffet explained he is not worried that the U.S. dollar will lose out to other currencies anytime in the future. BRICS: Warren Buffet Said the U.S...