Despite being the BRICS focus over the last two years, 2025 could mark the end of the alliance’s de-dollarization efforts. Although the bloc has sought increased financial prominence, it has yet to truly strike at international Western hegemony.
With President-elect Donald Trump set to take over the White House in the coming years, his relationship with Russia’s Vladimir Putin could orchestrate a massive shift in perspective for the group. Since Trump won the 2024 election, Putin has already assured he is no longer interested in abandoning the US dollar.
Also Read: BRICS Countries are Rejecting De-Dollarization: Here’s Why
BRICS Fight Against the US Dollar Coming to Its Final Bell: Why Trump Changes Everything
2022 remains one of the most important years, geopolitically speaking. That year marked the start of Russia’s invasion of Ukraine. Moreover, it forced the hand of the West, with the United States moving to sanction the country in response to its military advancement.
With that being more than two years ago now, things have changed. The invasion sparked increased cooperation with the global South BRICS alliance. Specifically, Russia sought to forge plans to lessen international reliance on the US dollar. Effectively, he struck back against the West in any way he could.
Yet, things have changed. Specifically, Trump is back in office, and the sentiment from the Russian president has shifted greatly. More importantly, things for the BRICS bloc could be set to change, as 2025 could be the end of its ongoing de-dollarization efforts.
Also Read: Donald Trump to Fracture and Dismantle the BRICS Alliance?
A Reuters report notes that Putin has expressed a willingness to sit down with Donald Trump and discuss ending the ongoing war in Ukraine. Although he has extensive conditions, his openness for a ceasefire is progress nonetheless. Moreover, that comes as he already denounced a desire to truly abandon the US dollar after Trump was elected as the incumbent US President.
Trump has been outspoken about his stance regarding de-dollarization. Just as certain, the 45th president has been vocal about his belief in his own capacity to end the Ukraine war. Those two things could create a perfect storm that only hinders the nations that put their faith in BRICS de-dollarization.
It is not out of the realm of possibility to see an increase in Russian and US cooperation. That is especially true amid Trump’s return. Such an action would threaten its advances on the US dollar. More importantly, it could ensure Trump gets what he wants, assuring the greenback’s position atop global economics.