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30.07.2025

Threats to the US Dollar and BRICS Expansion

Dmitriev stated in a post on his platform “X” account: “The greatest threat to the US dollar is not posed by BRICS countries, but by people like Biden, who weaponize it through endless and ineffective sanctions.

He also mentioned that he reduced the previously set deadline of 50 days to reach a truce between Russia and Ukraine, hinting at imposing a 100% tariff on Russian goods, along with secondary sanctions on countries buying Russian oil, if a ceasefire agreement is not reached.

However, he expressed uncertainty about the effectiveness of these measures against Moscow. Meanwhile, Russia has repeatedly asserted its ability to withstand Western pressures and sanctions imposed in recent years, highlighting that it has developed an “immunity” to these restrictions, according to Kremlin spokesperson Dmitry Peskov.

It is worth noting that the BRICS group was established in 2006, initiated by Russia, China, India, and Brazil, with South Africa joining in 2011. The group is set to expand starting in 2024 with the inclusion of several new countries.