Stay updated with breaking news from De Dollarization. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Russia is discussing with other BRICS countries the interaction of national financial message transmission systems, and currently 159 foreign participants from 20 countries have already joined the Russian platform, Russian Central Bank Head Elvira Nabiullina told Sputnik.
The transition to green energy is "an opportunity for the nation to raise the global standing of the renminbi in commodities markets."
Central banks, especially China and Russia, are significantly increasing their gold reserves in anticipation of economic instability, inflation, and potential crises in the dollar and sovereign debt.
Ramaswamy, a billionaire entrepreneur-turned-politician, said the BRICS is establishing a currency backed by gold to replace the dollar as the reserve currency of the world. "This is a major problem for the United States."
Both Russia and Iran have been reducing their reliance on the dollar since the US leveraged its currency's dominance to impose economic sanctions on both countries.