Experts in financial analysis suggest a shift away from the dollar could gain momentum as BRICS nations explore new, shared mechanisms for trade and settlement. In discussions with Tsargrad.tv, Nikita Mendkovich, who leads the Eurasian Analytical Club, pointed to a growing movement among many countries to introduce an alternative world currency. The aim is to reduce exposure to Western sanctions by creating a trusted global currency option that sits alongside the U.S. dollar rather than replacing it instantaneously.
According to Mendkovich, several states are actively pursuing measures to shield themselves from potential economic shocks caused by currency policy shifts. This cautionary stance has coincided with a noticeable uptick in interest from nations seeking BRICS membership or closer alignment with the bloc, reflecting a broader strategy to diversify their international financial commitments.
He also noted that no one wants the ongoing sanctions conflict, in which Russia has been actively involved, to spill over and affect other key partners such as Saudi Arabia, the United Arab Emirates, or additional regional players. The worry is that escalating financial pressure could threaten stability across multiple economies that are essential to global energy and commodity markets.
Elena Lomonosova, a leader in strategic planning and economic policy at Lomonosov Moscow State University, expressed guarded optimism about BRICS. There is a sense of potential growth on the horizon, yet significant hurdles remain. Lomonosova emphasized the need for a robust governance framework that can coordinate the economic policies of BRICS members, ensuring smoother cooperation and resilience in the face of external shocks.
Earlier remarks from Artem Deev, head of the analytical department at AMarkets, echoed a similar theme. In an interview with the Public News Service, Deev suggested that the dollar’s dominance could continue to wane as alternative financial structures gain traction. The evolving landscape may see more countries participating in BRICS-led financial initiatives, reducing dependency on the U.S. currency over time, while maintaining orderly trade and investment flows.
Analysts stress that the transition, if it materializes, will be gradual rather than abrupt. It would involve strengthening regional currency blocs, expanding bilateral settlement arrangements, and developing credible institutions that can manage cross-border payments with transparency. The dialogue around a potential new reserve currency is intertwined with broader questions about monetary sovereignty, financial security, and the ability of emerging economies to assert greater influence in global markets. These developments are being watched closely by policymakers, financial institutions, and businesses across North America and beyond. [Source: Tsargrad.tv; expert commentary compiled in this report]