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In a surprising new turn of events, Russia is now competing with the US dollar actively, challenging its dominion at the same time. The US dollar, which was once a global asset, has now been de-dollarized in Asia, with the majority of the Asian countries conducting trade in rubles with Russia. This narrative also shows how Russia has successfully been internationalizing its currency, despite the region being sanctioned heavily by the United States. Also Read: Foreign Funds Are Pouring In: The US Dollar Rate About to Boom Ruble Is Winning, US Dollar Shrinks In A New De-Dollarization Trend Source: Reuters / Dado Ruvic / Per a recent trade report by the AA news, Russia is spearheading global trade deals in rubles, making new pathways for its currency to thrive on an international level. Russia’s ruble share on foreign trade with Asian countries has now reached a staggering 50.7%, showcasing the successful deployment of the currency in cross-border trade dynamics. This development has yiel...

The BRICS alliance is divided on the idea of replacing the US dollar with local currencies for trade and transactions. Countries such as India, Brazil, South Africa, and the UAE are slowly going soft on the idea of de-dollarization. Trump’s recent tariffs are the cause for backtracking as high tariffs eat into the revenue sheets of their imports and exports sector. The stock market crash is also making things worse as trillions worth of funds are being erased from the markets. Also Read: BRICS: China & Brazil Officially Announce to Trade in Local Currencies Not Every Country Wants to End US Dollar Reliance Source: AFP The proposal to end the US dollar dependency now hangs on a thread as one-third of the BRICS alliance is stepping away from the idea. Only countries such as China, Russia, and Iran are aggressively pursuing the de-dollarization agenda globally. Russia and Iran are reeling under sanctions and are desperate to break free to protect their respective economies. Also Read...

President-elect Donald Trump is advancing to fracture and dismantle the BRICS alliance, said a political analyst from Moscow, Boris Mezhuyev. The analyst explained that the 47th President of the United States is determined to take on countries that threaten to cut ties with the US dollar. BRICS is the first in line to receive the ire of Trump after he takes oath on January 20, 2025. Also Read: 4 New Countries Show Interest To Join BRICS Alliance The BRICS alliance vowed to spread the de-dollarization agenda worldwide and Trump recently responded to the initiative. The President-elect vowed to put a 100% tariff on all goods entering the US from countries that want to end reliance on the US dollar. The move will force the bloc to use the greenback for trade and not local currencies for cross-border transactions. Also Read: Currency: US Dollar Pushes the Indian Rupee Further Down BRICS to Face the Ire of Trump, Says Political Analyst Instagram / Donald Trump Mezhuyev stressed that Trump w...

Ukraine is willing to join the 30-member NATO alliance to fight Russian aggression on its soil. Russia invaded its neighboring country, Ukraine, in 2022, and the war sees no end in sight. Ukrainian President Volodymyr Zelenskyy has received millions of dollars from the US and the West to fight Russia. The country has also received arms and ammunition from the West to go on the offensive against its enemy. Also Read: Elon Musk Acknowledges XRP: What Does It Mean for Crypto? Zelenskyy has repeatedly shown interest in joining NATO and making Ukraine the 31st military alliance member. If it is inducted into the bloc of nations, the country could be much more powerful. The President said in the latest press conference that joining NATO is a “central plan” for Ukraine to defeat Russia. The central plan has many aspects, including using financial and military methods to take on the Putin administration. Also Read: BRICS Control 20% of the World’s Gold Reserves Will NATO Induct Uk...

The leaders of the G7 agreed to provide a loan of $50 billion to Ukraine to help them fight Russia. The deal was struck at a summit in Italy’s Apulia region and the leaders agreed to use frozen assets from Russia as collateral. Around $250 billion in frozen Russian assets are currently held with the European Union and G7. In addition, an extended amount of contributions are also expected from Canada, Japan, and other countries in Europe. Also Read: BRICS Surpasses the US in Gas Trade to Europe Reports suggest that the World Bank (IMF) may also play a role in the deal and disburse the U.S. portion of the loan. The European Commission President Ursula von der Leyen made it clear that G7 will not be footing the $50 billion bill as it comes from Russian frozen assets. Therefore, taxpayers are not burdened through the loan to Ukraine to fight Russia. U.S. President Joe Biden called the G7 deal a “historic agreement” that could help Ukraine defend itself from Russia ...

Russia’s second-largest bourse is ready to be the first in the country to add support for cryptocurrencies. Saint Petersburg Stock Exchange (SPB Exchange) will list a whole set of cryptocurrencies, including Bitcoin (BTC), once the government legalizes the industry, local news agency TASS reports, citing the exchange ’s head Roman Goryunov. Although the time frame was not specified, Goryunov said one day, the world of crypto will merge with the world of traditional financial instruments. He also emphasized the exchange will be the first trading platform to trade crypto in Russia once there’s a clear regulatory framework to work with digital currencies. As Goryunov pointed out, the platform has been mulling crypto-related plans for a while now. “We almost launched a crypto exchange in 2017 and have not changed our mind since then.” Roman Goryunov, Saint Petersburg Stock Exchange head As sanctions against Russia intensify, the authorities seek new ...