BRICS member Russia has made a significant move in its trade relations with neighboring Kazakhstan. President Vladimir Putin has confirmed that a substantial 80% of their trade is now settled in local currencies rather than the US dollar. This development showcases Russia's push to strengthen trade ties and advance the de-dollarization initiative.

Russia's Trade Pivot - Strengthening Ties with Kazakhstan

BRICS and the De-Dollarization Drive

Russia is at the forefront of the BRICS de-dollarization agenda, aiming to reduce the dominance of the US dollar in international trade. By settling a large portion of their trade in local currencies, Russia and Kazakhstan are setting an example for other BRICS and CIS nations. This move not only gives local currencies a boost but also poses a challenge to the US dollar's hegemony. 1: The decision to settle trade in local currencies has several implications. It allows for greater stability and independence in trade, reducing the vulnerability to fluctuations in the US dollar. It also promotes economic cooperation between the two countries and strengthens their bilateral relations. 2: Moreover, this shift is part of a larger trend within the BRICS and CIS blocs. As more countries within these alliances adopt local currencies for trade, it creates a more diversified and resilient global economic system. It reduces the reliance on a single currency and provides an alternative for countries looking to break free from the US dollar's grip.

The Impact on Forex Markets

With the increased use of local currencies in trade, forex markets are set to experience significant changes. Local currencies are likely to strengthen as their usage grows, providing a boost to developing countries. This, in turn, can lead to increased investment and economic growth within these nations. 1: The strengthening of local currencies can have a positive impact on various sectors. It makes imports more affordable and exports more competitive, stimulating economic activity. It also allows countries to have more control over their monetary policies and reduces the influence of external factors. 2: For example, in Kazakhstan, the increased use of the local currency can lead to more stable prices and reduced inflation. It can attract foreign investment and encourage domestic businesses to expand. Similarly, in Russia, the de-dollarization initiative is expected to have a positive impact on its domestic economy and strengthen its position in the global market.

The CIS Alliance and Local Currency Settlement

The CIS alliance, consisting of 12 countries, has also come together to settle trade in local currencies. Around 85% of cross-border transactions among CIS nations are now conducted in local currencies, further demonstrating the growing trend towards de-dollarization. 1: This agreement within the CIS alliance is a significant step towards reducing the dominance of the US dollar. It promotes regional economic integration and cooperation and allows countries to trade more freely with each other. 2: By settling trade in local currencies, CIS nations can avoid the risks associated with currency fluctuations and strengthen their economic ties. It also provides an opportunity for smaller economies within the alliance to gain a more prominent role in international trade.In conclusion, the US dollar is facing increasing pressure from the local currencies of BRICS and CIS nations. Russia's settlement of 80% of its trade with Kazakhstan in local currencies is a clear indication of this trend. As more countries join the de-dollarization movement, the global economic landscape is likely to undergo significant changes.

В наше время важность правильного снаряжения для зимних дней не может быть переоценена. Мы будем рассмотреть различные варианты одежды и обуви, которые помогут вам остаться теплыми и стильными даже в самые холодные времена.

Тэги

- зимняя одежда- мужская обуви- женская одежда- стильная одежда- тёплый снаряжение