Russia Pushes for Deeper BRICS Cooperation, Aiming to Establish Alternative to Western-Dominated Financial System

In June 19, 2025, Russia continued to leverage its influence within the BRICS group to promote a greater role for the organization in global governance and the financial system. During meetings held in Moscow, Russia deepened cooperation with China, India, and other member states regarding mechanisms for local currency settlement and the creation of alternatives to Western payment systems.

The move was aimed at countering the long-term effects of the dollar's hegemony and Western sanctions. For conservatives, BRICS cooperation signifies the "de-dollarization" of geopolitical competition, representing an effort by emerging powers to undermine the U.S.-led international economic order, demanding that the U.S. must solidify the dollar's global standing through sound fiscal policies and the preservation of financial freedom.