Russia is now considering a major economic shift that could bring it back to the US dollar settlement system. This move is linked to a possible economic partnership with the Trump administration. For the past few years, Russia and other BRICS nations have been pushing for “de‑dollarisation,” settling trade in local currencies. In fact, more than 60% of BRICS trade today happens outside the dollar. But this new proposal could change the game.
The plan reportedly includes joint projects in energy, natural gas, offshore oil, and critical minerals. Such cooperation would benefit both US and Russian companies. A return to dollar settlements would also reshape global finance, giving the US currency fresh strength. For Russia, it could mean easier access to global markets and smoother trade flows. For America, it could mean stronger influence in energy and raw materials.
However, this raises questions about the future of BRICS de‑dollarisation. If Russia, a key member, shifts back to the dollar, the momentum of local currency trade may slow down. While India, China, and Brazil may continue their push, the unity of BRICS on this front could weaken.
In short, Russia’s possible dollar comeback under Trump deal is not just about trade it could redefine global financial power and test the strength of BRICS cooperation.