At the NDTV Defense Summit, Denis Alipov said BRICS supports options alongside the dollar—using national currencies and improving cross-border payment mechanisms—and provides developing countries a stronger voice in global forums.
Russia frames BRICS as a discussion platform and an alternative forum to formats like the G20, not an anti-Western bloc.
Practical steps within BRICS focus on bilateral local-currency settlement and cross-border payment mechanisms rather than a single replacement currency.
Russian and allied statements (including Kremlin commentary) stress hedging dollar dependence, not full de-dollarization.
At the NDTV Defense Summit in New Delhi, Russian Ambassador to India Denis Alipov said BRICS countries are not opposed to the use of the US dollar. He described BRICS as a platform for discussion and joint solutions where members can pursue alternatives to dollar-dominated trade—primarily through greater use of national currencies and improved payment mechanisms. He also said BRICS gives developing countries a stronger voice in global affairs and is an alternative forum to bodies such as the G20.
Alipov's messages were straightforward: no BRICS member has called for an anti-Western agenda, and no one in the grouping is advocating outright rejection of the US currency. Instead, the emphasis is on creating workable alternatives. He stressed that the discussion about the dollar illustrates this stance: members accept the dollar's continued use while favoring the option to settle trade in their own currencies.
How this fits with other Russian statements
Russian officials have reiterated similar themes elsewhere. The Kremlin previously said Russia is not seeking full de-dollarization, noting that practical constraints—such as some countries' restrictions on currency use in trade—shape choices. BRICS leaders and officials are continuing conversations on cross-border payment systems and the broader use of national currencies rather than pushing for a single BRICS currency.
Practical focus and likely follow-ups
The reporting and related commentary indicate the bloc's actions are pragmatic:
For developing economies in BRICS, having additional options can reduce exposure to single-currency risks and to potential financial restrictions tied to dollar-based systems. For global markets, the changes described are incremental and technical: improved payment rails and more local-currency settlement can shift some flows over time but do not represent a sudden replacement of dollar-based trade.
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