Page 5 - De Dollarization News Today

While the discourse around de-dollarization gains momentum, particularly with the strategic expansion of BRICS, the U.S. dollar’s preeminence remains largely unchallenged.

On September 10-13, Vladivostok hosts the Eighth Eastern Economic Forum (EEF), attracting over 7,000 participants from the Asia-Pacific Region. Being the traditional venue for the event, the Far Eastern Federal University welcomes foreign guests.

Russia and its partners within BRICS and the Shanghai Cooperation Organization (SCO) need to work on a unification of payment systems and a mechanism to regulate trade in national currencies to boost mutual trade and be more independent, geopolitical analyst Pepe Escobar told Sputnik.

You can count the number of cases in which Western governments have been genuinely interested in Africa’s wellbeing on the fingers of one hand. However, the sharp drop of Western influence on the continent is forcing former colonial powers to try rebranding themselves.

The initiative is aimed at reducing the countrys reliance on the US dollar in international transactions with partner countries.

The renminbi's increased role in Russia's banking sector indicates further efforts to reduce reliance on the dollar.

Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan held bilateral talks on Monday, touching upon energy and food security, as well as major regional and geopolitical issues.

In a no holds barred attack on the United States and its Western allies, Russia on Friday called them "major source of instability" in the world, and warned their could be new confrontations in the coming days.

The new era opened with the strategic tour de force inbuilt in the creation of BRICS 11 involves the make-or-break issue of setting up a new international economic/financial strategy.

The de-dollarization of the world economy has been thrust back into the spotlight with the BRICS summit this month, but its outlook is murky at best.