Russian officials warn of major changes ahead. De-dollarization grows stronger as Dmitry Medvedev and Sergey Lavrov raise alarms about US dollar stability. They point to risks in financial stability and changes in global trade. BRICS countries are now pushing for new payment systems. The threat of a US dollar collapse affects markets worldwide.
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Navigating the De-dollarization Era: Insights from Medvedev and Lavrov
Medvedev’s Dollar Bubble Warning
Medvedev warns of serious trouble ahead for the US dollar collapse. “This bubble will burst sooner or later. And it will be such a ‘bang,’ such a dangerous explosion, that it may create very grave circumstances for everyone,” he told RT.
He sees risks but notes shared concerns. “Nobody is interested in the dollar crash… Even we are not interested, because this will bring havoc to international economic relations.” Medvedev stressed Russia’s role, saying, “We are actually a part of international economic relations.”
The dollar still holds power today. Medvedev explained: “We are dependent primarily on the dollar and a certain number of other reserve currencies.” This shows how hard it is to move away from the dollar system while de-dollarization gains traction.
Lavrov’s “Death Warrant” Declaration
Lavrov sees no future for the dollar’s power. “The dollar, which for decades has been advertised to us as the common property of all mankind, has been turned into a weapon of oppression and punishment of geopolitical competitors and simply disobedient ones,” he stated. He believes this abuse means the dollar has “essentially written a death warrant for the dollar as a global reserve currency.”
Lavrov blames Western countries. He says their actions speed up this ongoing de-dollarization process worldwide.
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Alternative Payment Solutions
Both leaders want new ways to trade. Medvedev supports more reserve currencies and digital money, saying “Digital money is the future, because it is impossible to control them from a single center of issuance.” Lavrov agrees, noting “Everybody wants to create alternative payment mechanisms, interbank settlements with the use of national currencies.” De-dollarization is pivotal to their economic strategies.
BRICS’ Expanding Role
BRICS gains power as changes happen during de-dollarization. Maxim Oreshkin states clearly, “BRICS countries are continuously dominating the global economic growth and are already leaders in the world economy.” This comes from fast growth in South Asia and Africa, including Nigeria and Ethiopia.
Future Expansion Plans
BRICS plans to expand in 2024. Lavrov notes increased interest: “People in countries of the global East vote primarily for politicians proclaiming their plans to establish closer relations with BRICS.” New countries can join as partners in the de-dollarization era, but some meetings remain limited to full members only.
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Financial stability drives countries to seek new payment systems. They want freedom from dollar-based trading. De-dollarization grows as countries worry about dollar weapons. Digital currencies and regional payment systems now lead this economic shift.
