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BRICS countries, Russia, and India are likely to continue oil deals despite sanctions from the US and threats from Trump. The share of Russian crude oil in India’s imports could even increase as it is available at competitive prices. British analytical firm Vortexa wrote in its Analysis that Russian oil suppliers will keep prices below market rates for India. All of this would happen despite sanctions from the US and pressures from Trump and other Western countries. The West has tightened pressure on BRICS and other developing countries to stop them from procuring Russian oil. They even went to the extent of claiming that those who procure Russian oil are aiding and arming the conflict in Ukraine. Also Read: BRICS Expands North: Mexico Partners With China, Drops Dollar for Yuan BRICS Oil Remains In the Limelight Source: energyintel.com / Michal Bednarek / Shutterstock Vortexa experts added that Russian seaborne oil exports are too big a part of India’s hydrocarbon purchases...

China settled trade worth 6.11 trillion yuan (equivalent to $855 billion) with BRICS members during the first half of 2025. The trade volume among member and partner countries increased by 3.9% year-on-year in January to June this year. The development signals a major shift where the alliance is working closely with member nations for cross-border trade and transactions. Apart from BRICS countries, China has also proposed to establish a new digital trading platform with SCO countries. The proposal was announced in the ongoing SCO Global Mayors Dialogue in China’s Tianjin city on Tuesday. The significant changes could affect the US dollar as the digital trading platform could bypass the USD for payments. Also Read: BRICS Bank Increases Loans in Local Currencies, Covers 25% of Lending BRICS Member Nations Settle $855 Billion Worth of Trade With China in the First Half of 2025 Source: Mast Irham / AFP Lu Daliang, the Director of the Statistics and Analysis Department of the General ...

The BRICS alliance is advancing in the de-dollarization agenda by cornering the US dollar on the global stage. Local currencies are given prominence while the greenback is being sidelined for international transactions. Many countries like Nigeria and Iraq have also imposed a blanket ban on the USD in foreign exchanges and oil settlements. If BRICS comes up with a groundbreaking path for de-dollarization in the upcoming summit in Rio de Janeiro, the US dollar could be under tremendous pressure as emerging economies are waiting to topple its global dominance. It’s no longer about ‘how the US dollar will be brought down, but is about when’. Also Read: BRICS Will Unveil Most Ambitious Plan: US Congressman 71 Countries Had Settled Trade Before BRICS Started De-Dollarization Source: Freepik.com A total of 71 countries have settled trade payments without the US dollar much before BRICS kick-started the de-dollarization process. The latest data compiled shows that de-dollariz...