Countries drop the US dollar in a historic economic move that’s sending shockwaves through global markets. No less than eleven nations from the Commonwealth of Independent States have, at the time of writing, announced plans to reduce American currency dependency as part of growing de-dollarization trends in 2025, raising some serious concerns about the US dollar collapse and also representing a major global shift from dollar dominance in international trade.
Also Read: Pepe Vs. Pi Coin: Which Will Hit An All-Time High First?
Former Soviet Republics Leading the De-Dollarization Movement
Countries drop US dollar use across eleven former Soviet states: Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Uzbekistan, and also Ukraine. These nations will begin phasing out dollar transactions by mid-2025, though specific dates remain unannounced at this point.
Joyce Chang, Chair of Global Research at JP Morgan, was clear about the fact that:
“Although such a transformation could take decades to fully materialize, early signs of the dollar’s weakening grip are emerging.”
This move essentially challenges the dollar’s 70-year reign, potentially reducing its current 80% share of global trade transactions and creating an uncertain financial future for many international markets.
Economic Independence Drives Change
The former Soviet countries drop US dollar usage primarily to gain economic sovereignty and independence. Local currencies will be prioritized in what appears to be a gradual transition designed to build regional economic strength while decreasing American financial influence in the area.
Implementation Timeline
The dollar phase-out begins somewhere in mid-2025 with an extremely gradual implementation approach. Many nations will follow Russia’s existing de-dollarization model while also exploring various digital currency alternatives to ease the transition for businesses and citizens alike.
Also Read: SHIB Tanks 88% From ATH—Can April 12 Spark a Turnaround?
What’s remarkable about this de-dollarization initiative is Ukraine’s unexpected participation alongside Russia despite their ongoing tensions. This economic alliance against dollar dependency transcends political disputes, suggesting that financial sovereignty matters more than regional conflicts in some contexts.
Global Reserve Currency Implications
Countries drop the US dollar as part of a symbolic yet important challenge to American economic hegemony. This action is also a response to Trump’s tarrifs. While immediate effects may be limited, the psychological impact of eleven nations simultaneously moving away from the dollar signals a potential turning point in international finance.
Also Read: Investing Expert Calls to Buy Nvidia (NVDA) Stock Dip, Citing This Key Metric