Russia Wants To Reverse De-Dollarization: What It Means For The US Dollar?

The US dollar has always been surrounded by serious foes and enemies, the ones that want to derail its reserve currency status. To expedite the de-dollarization concept, Russia and China have always been quite vocal about their ideas, adding how they both want to derail the US dollar hegemony by putting forth the idea of the multi-polar currency world.

This roughly sparked the promotion of local currencies on an international scale, jeopardizing the dollar’s supremacy. With the US and EU sanctioning Russia and expelling it out of the SWIFT system, Russia opted for yuan, all while promoting the narrative of de-dollarization at a rapid pace. But now it seems that things have started to take an interesting turn, with Russia showing a softening stance against the US. What is this all about? Let’s find out.

Tables Turning Around: Trump Supporting Russia

With Donald Trump assuming the role of the US president, his ideas of bolstering the US economy via tariffs have been gaining widespread momentum. Apart from that, another significant development that has caught the world’s attention is Trump’s increased effort to conclude the ongoing Ukraine-Russia war. The US president has often been noted stating the gruesome repercussions of the ongoing Russia-Ukraine war, adding that Zelensky should have made a deal to end the war earlier, showing a supportive stance towards Russia.

Trump earlier shared how he has the power to end the war.

he added.

De-Dollarization To End: Russia Praises Trump

On the other hand, Russian PM Vladimir Putin has notably praised Trump’s effort to resolve the ongoing Russia-Ukraine war.

JUST IN:Russian President Putin praises US President Trump’s efforts to resolve the conflict with Ukraine. pic.twitter.com/jnmhHLSZzG

In addition to this, Putin also acknowledged how certain external forces are trying to disrupt the budding Russian-US sense of friendship and commitment.

JUST IN:President Putin says there are "forces" trying to disrupt Russia’s growing relationship with the United States. pic.twitter.com/qWaXXnoM0S

With such developments taking place, the Russia-US fostering relationship could ultimately result in a lasting resolution thwarting BRICS efforts of derailing the US dollar. This development can ultimately put a stop to the rising de-dollarization concepts and ideations.