(From left to right) Chinese President Xi Jinping, Russian President Vladimir Putin, and South African President Cyril Ramaphosa attend a plenary session at the BRICS summit in Kazan on Oct. 24, 2024.
(MAXIM SHEMETOV/POOL/AFP via Getty Images)
Assessments

The Implications of an Independent BRICS Payment System

Jul 31, 2026 | 09:00 GMT

The bloc's push to develop an independent payment system for trade will not immediately undermine the U.S. dollar's global dominance, though it could reduce the effectiveness of U.S. sanctions.

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