In a significant shift in global finance, the BRICS economic alliance is set to implement a landmark trade agreement that will see over $70 billion in trade settled in local currencies, ditching the US dollar. This move is part of the bloc's de-dollarization efforts, aimed at decreasing reliance on the greenback in unilateral trade.

The agreement will have a massive impact on the prevalence of the US dollar, as all nine alliance members, including Russia and China, and six additional countries will be affected. The trade agreement is a testament to the growing transformation in global finance, led by the BRICS collective, which has been actively working to reduce Western dominance in the sector.

The expansion of the BRICS alliance in 2023 has magnified its de-dollarization efforts, with Kazakhstan being one of the countries that signed the trade agreement. The country's trade with the BRICS collective grew by 55% in 2023, and with the new agreement, all settlements will be done in local currencies, abandoning the US dollar.

This move is not limited to Kazakhstan, as many other countries have expressed interest in joining the bloc, with as many as 30 nations reaching out. Several invitations are expected to be granted this year, further solidifying the alliance's position in global finance.

The upcoming summit is expected to see more countries joining the group, which will continue to reshape the global order. The BRICS alliance's bold move is a clear indication of the changing landscape of global finance, as countries seek to reduce their reliance on the US dollar and establish a more diverse and inclusive financial system.

In conclusion, the BRICS trade agreement is a significant development in the global financial landscape, marking a shift towards a more multipolar world. As the alliance continues to grow and expand, its impact on the US dollar and global finance will be significant, shaping the future of international trade and investment.