Russian President Vladimir Putin stated that the use dollar arsenic an instrumentality of governmental unit became 1 of the biggest strategic mistakes USA.
According to the Russian leader, excessive politicization of the American currency undermines planetary assurance successful it and accelerates the process dedollarization.
“Using the dollar arsenic a tool for planetary unit is America’s biggest strategic mistake. You are sidesplitting your ain currency”said Vladimir Putin.
Context of the statement
Putin has been expressing akin assessments for respective years now. In 2026, these words are again actively disseminated successful the media, including done aged interviews (including a speech with Tucker Carlson). The statement reflects the Russian presumption connected Western sanctions, which, according to Moscow, promote countries to look for alternatives to the American fiscal system.
The dollar retains dominance, but signs of erosion are visible
Despite progressive discussions astir dedollarization, the American currency still remains the undisputed person of the planetary fiscal system.
According to IMF information (COFER, Q4 2025), the stock of the dollar successful planetary overseas speech reserves of cardinal banks was 56.77%. According to SWIFT data, its stock successful planetary payments astatine the extremity of 2025 reached 50.5%. For comparison, the stock of the euro is astir 22%, the yuan is conscionable implicit 3%.
At the aforesaid time, section advancement successful dedollarization is obvious: Russia and China are carrying retired 99.1% communal settlements successful rubles and yuan, akin trends are observed successful trade with India and some different countries.
BRICS presumption and opinions of different leaders
Putin’s statement is intimately related to the docket of the expanded BRICSwhere the contented of reducing dependence connected the dollar has been discussed for respective years. However, there is nary unity within the bloc.
President of Brazil Luiz Inacio Lula da Silva remains 1 of the astir progressive supporters of the gradual transition to payments successful nationalist currencies. He has repeatedly said that trade betwixt BRICS countries does not person to spell done the dollar, calling the existent system “unfair and anachronistic.” At the aforesaid time, Lula emphasizes that changes indispensable beryllium gradual and pragmatic – the thought of a single BRICS currency successful 2025-2026 has already noticeably faded into the background.
China (through Xi Jinping and authoritative representatives) consistently criticizes the “weaponized” use of the dollar and actively promotes the yuan successful planetary payments, arsenic well arsenic the improvement of alternate outgo systems (including projects similar BRICS Pay).
In contrast, India’s presumption is overmuch much restrained. Minister of Foreign Affairs Subrahmanyam Jaishankar bluntly stated successful 2025: “The dollar arsenic a reserve currency is simply a source of planetary economical stability, and what the world needs present is much stability, not less.” India opposes the instauration of a communal BRICS currency and fears excessive dominance of the yuan. New Delhi prefers the term “de-risking” (risk reduction) alternatively of hard dedollarization.
In the last declarations of the summits BRICS (including Rio 2025), the topic of dedollarization sounds cautious: the accent is connected processing payments successful nationalist currencies and strengthening the New Development Bank, but without extremist steps to make a single currency oregon straight situation the dollar.
So wrong BRICS There is not a united “anti-dollar front”, but alternatively a process astatine antithetic speeds: Russia and China are the astir active, Brazil is simply a pragmatic supporter, and India and some caller members are cautious participants who bash not want a crisp confrontation with the West.
Putin’s statement highlights the existent problem: utilizing the dollar arsenic a “weapon” motivates the hunt for alternatives. However, for now, dedollarization remains fragmented—noticeable astatine the bilateral level, but slow and constricted astatine the planetary level. The dollar is gradually losing its stock of reserves, but retains an overwhelming vantage successful planetary trade and fiscal transactions.
Greek (GR) · 
English (US) ·