BRICS, originally an acronym for Brazil, Russia, India, China, and South Africa, has evolved into a broader economic alliance known as BRICS+. This expansion includes new members and partner countries, aiming to challenge the dominance of the US dollar in international trade. The recent addition of nine partner countries—Belarus, Bolivia, Indonesia, Kazakhstan, Cuba, Malaysia, Thailand, Uganda, and Uzbekistan—marks a significant step towards this goal[1][4].
Current Composition of BRICS
As of 2025, BRICS consists of ten full members:
– Brazil
– Russia
– India
– China
– South Africa
– Egypt
– Ethiopia
– Indonesia
– Iran
– United Arab Emirates
Additionally, eight countries are on the path to full membership as partner states:
– Belarus
– Bolivia
– Cuba
– Kazakhstan
– Malaysia
– Thailand
– Uganda
– Uzbekistan[4].
BRICS’ Goal to De-Dollarize
BRICS aims to reduce its reliance on the US dollar, particularly in oil trading, which is currently dominated by the dollar. The bloc is exploring alternatives, such as using their own currencies or a potential new reserve currency. This could significantly impact the dollar’s global standing[2][5].
Implications for the USA
If BRICS succeeds in trading oil without using dollars, it could lead to several consequences for the USA:
1. De-Dollarization: A reduction in the use of the dollar in international transactions could decrease its value and influence. This would undermine the dollar’s status as the global reserve currency, potentially affecting US economic power[8].
2. Economic Impact: The decline in dollar demand could lead to higher interest rates in the US to attract foreign investors, impacting domestic economic growth[8].
3. Trade and Tariffs: The US might respond with tariffs or other trade restrictions to protect its economic interests. For instance, President-elect Donald Trump has threatened BRICS countries with 100% tariffs if they pursue alternatives to the dollar[6].
4. Global Economic Shifts: BRICS’ success in de-dollarizing could accelerate a shift towards a more multipolar economic order, where other currencies and economic blocs gain prominence[3][5].
Conclusion
The expansion of BRICS and its efforts to de-dollarize pose significant challenges to the US dollar’s dominance. As BRICS continues to grow and integrate economically, it may reshape the global financial landscape, potentially reducing the dollar’s influence and altering international trade dynamics.
Read More
[1] https://www.wam.ae/en/article/14a9u41-nine-countries-become-brics-partners-2025
[2] https://think.ing.com/articles/de-dollarisation-more-brics-in-the-wall/
[3] https://foreignpolicy.com/2023/04/24/brics-currency-end-dollar-dominance-united-states-russia-china/
[4] https://geopoliticaleconomy.com/2024/12/25/brics-expands-9-partner-countries-population-economy/
[5] https://mecouncil.org/blog_posts/can-brics-really-drop-the-dollar/
[6] https://indianexpress.com/article/business/trump-100-tariff-brics-us-dollar-9699488/
[7] https://www.freiheit.org/brics-what-are-key-issues-2025
[8] https://investingnews.com/brics-currency/