Finance
Kremlin rejects Trump's assertion that BRICS targets the dollar
Published by Global Banking and Finance Review
Posted on October 15, 2025
1 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on October 15, 2025
1 min readLast updated: January 21, 2026
The Kremlin refutes Trump's claim that BRICS aims to undermine the dollar, emphasizing the group's focus on cooperation and prosperity.
MOSCOW (Reuters) -The Kremlin said on Wednesday that the BRICS group of nations has never targeted third countries or their currencies, rejecting U.S. President Donald Trump's assertion that the bloc was designed to undermine the dollar.
Trump on Tuesday described BRICS as "an attack on the dollar" and spoke of his threat to impose tariffs on its members.
Kremlin spokesman Dmitry Peskov told reporters that BRICS was a grouping of nations united by a shared vision of cooperation and prosperity.
(Reporting by Gleb StolyarovWriting by Maxim RodionovEditing by Andrew Osborn)
BRICS is an acronym for a group of five major emerging economies: Brazil, Russia, India, China, and South Africa. The group aims to promote peace, security, and development in the world.
The dollar is the official currency of the United States and is widely used as a global reserve currency. It is often seen as a benchmark for international trade and finance.
Currency targeting refers to a strategy used by countries or economic groups to influence the value of their currency against others, often to enhance trade competitiveness.
Economic cooperation involves countries working together to achieve mutual benefits, such as trade agreements, investment partnerships, and collaborative economic policies.
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