Kremlin Responds to Trump’s Accusations as BRICS Pay Gains Momentum

While BRICS Pay continues its discreet progress to bypass the U.S. dollar and challenge the SWIFT system, the Kremlin issued a firm response on October 15 to former President Donald Trump’s recent comments. Trump had described the BRICS alliance as a “threat to the dollar” and suggested the possibility of economic sanctions against its members.

Moscow Rejects Claims of Economic Aggression

Kremlin spokesperson Dmitry Peskov dismissed Trump’s accusations, calling them unfounded. He stated that the BRICS nations “have never sought to attack other countries or their currencies,” stressing that their initiatives are aimed at cooperation rather than confrontation. Peskov emphasized that BRICS is united around principles of mutual prosperity and partnership, not hostility toward the United States or its allies.

According to the Kremlin, Russia and its BRICS partners are not attempting to challenge the dollar’s dominance but rather to strengthen their internal economic ties. The statement was intended to de-escalate tensions and clarify the group’s intentions amid strained U.S.–Russia relations. Moscow underscored that BRICS operates as a collective economic bloc, focused on development and regional cooperation rather than currency wars or geopolitical rivalry.

The Rise of the Yuan and China’s Quiet Strategy

Despite Russia’s assurances, underlying monetary ambitions are emerging within the bloc, particularly from China, the group’s economic powerhouse. While Russia promotes a narrative of unity, Beijing is steadily advancing its goal of yuan internationalization.

China has been actively encouraging the use of the yuan in global trade, signing numerous bilateral and central bank currency swap agreements to expand its reach. These moves reveal a strategic effort to reduce dependence on the dollar, even if not to immediately replace it.

Beijing’s recent initiative to establish yuan-based free trade zones in Asia and Africa signals a gradual shift in the international financial landscape. This evolution, though subtle, highlights China’s growing influence and the potential emergence of a multipolar monetary order.

Challenges to a New Financial Era

However, significant hurdles remain. The yuan’s volatility, international hesitation to adopt a state-controlled currency, and the United States’ determination to defend its financial hegemony all limit how far BRICS can go in reshaping global trade.

While the Kremlin works to downplay Trump’s remarks, it is clear that the BRICS alliance—especially China—is crafting long-term monetary strategies that could eventually transform the world’s financial architecture. The path forward will depend on whether BRICS members can maintain economic cohesion amid external pressure and internal divergence.

In the long run, the dollar’s supremacy may face its most serious challenge yet, as BRICS quietly builds the framework for an alternative global system.