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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 country's reliance on the US dollar in international transactions with partner countries.