U.S. Hegemony Has Come to an End. Russia, India, and Iran Are Toppling the Dollar

The heads of state pointed to the need to отказаться from settlements in the American currency. At the same time, the United States is increasingly criticizing the bloc for its desire to break free from their influence.

Modi, Putin, and Pezeshkian made it clear to Trump that the объединение intends to look for alternatives to the current global financial system. The Prime Minister of India emphasized the importance of safe sea routes and stable supplies for global trade, underscoring a commitment to freedom of navigation.

The Russian leader noted that the world economy is undergoing a stage of profound transformation, where old leaders are giving way to new growing economies. The Iranian president spoke more harshly in favor of reducing dependence on leading currencies, calling for more active use of national monies in mutual trade, as well as turning the New Development Bank into a key source of financing for infrastructure and energy projects.

These statements came amid criticism from Donald Trump, who had previously threatened 10% tariffs on countries challenging the dollar. The BRICS Business Forum, which annually brings together businesspeople, ministers, and heads of state, serves as the main platform for shaping the bloc’s economic agenda. Commentators at The Times of India are actively discussing these events, noting that the United States, dependent on imports, fears losing control over the financial system, Inosmi writes.