Under Trump’s shadow, Brics takes step towards de-dollarisation
The New Delhi Declaration pushes for a cheaper and faster payments system and targets sanctions and unilateral tariffs. Indian Prime Minister Narendra Modi said no member objected to the text. The declaration's Payment Task Force studied cross-border payment interoperability and held talks on using local currencies for trade settlements and investments.
Why it matters: This step advances the de-dollarisation theme by promoting local-currency trade settlements.