The United States has been closely monitoring the BRICS group and its strategies. Russia is actively promoting the use of local currencies, particularly the Ruble, in Africa to replace the dominance of the US dollar in trade. The BRICS alliance, made up of emerging economies, is advocating for countries globally to lessen their dependence on the US dollar. In a bid to offer an alternative to Western financial systems, Russia is introducing a financial messaging system to African nations.

A significant shift in global economic dynamics is on the horizon, with the BRICS group at the forefront of this potential transformation. The U.S. is vigilantly observing every move as international trade and finance undergo a vigorous reshuffling. Russia's proactive efforts to encourage countries, especially in Africa and the Middle East, to move away from the US dollar in favor of local currencies, notably the Ruble, are not just casual suggestions but strategic maneuvers aimed at restructuring global financial interactions.

The U.S. Monitoring BRICS and Their Economic Plans

Russia is making a bold push for de-dollarization, with a focus on advocating for African nations to embrace their own currencies for trade. This initiative goes beyond mere financial independence; it aims to establish a new financial landscape with the Ruble playing a central role. The appeal for Africa lies in the promise of a self-sufficient financial infrastructure free from the constraints of Western financial systems.

The BRICS alliance, a powerhouse of emerging economies, is echoing Russia's stance across the developing world. Their vision entails a new financial era where the dominance of the US dollar in global trade diminishes, paving the way for a more diverse and fair financial environment.

The message from the Russian leader is clear: BRICS is ready to assist Africa in moving away from the US dollar by connecting African financial institutions to a Russian-designed financial messaging system, breaking away from Western financial networks that currently dictate cross-border transaction terms.

Looking ahead to the upcoming BRICS summit in Russia's Kazan region, scheduled for October, all eyes are on this crucial event that could mark a turning point in global finance. Beyond Africa, the BRICS strategy extends to the Middle East, urging a shift away from the US dollar, particularly in oil transactions.

This move is not just economic advice but a response to US sanctions following Russia's actions in Ukraine. The aim is to potentially weaken the global dominance of the US dollar, especially in the oil and gas sector.

The inclusion of oil-producing nations in the BRICS alliance last year was a strategic move to advance the de-dollarization agenda and alter the currency allegiance in oil trade. However, the dynamics are complex, with countries like Saudi Arabia cautiously considering BRICS membership, indicating a careful approach to this significant financial transition.

The BRICS group is not only advocating for a move away from the US dollar but is also working on introducing a new currency for international trade among its members. This initiative aims to establish a financial ecosystem where member countries' currencies gain prominence, challenging the supremacy of the US dollar.

The implications of this shift are profound, with developing economies taking steps to accumulate gold reserves over US dollar holdings due to concerns about the massive US debt. The fact that BRICS countries are among the largest purchasers of gold underscores their intention to strengthen their economies against the vulnerabilities associated with the US dollar.