The China-led BRICS trade and security bloc will reportedly discuss reducing their reliance on the U.S. dollar for trade during their upcoming South Africa summit — furthering plans to diminish American influence around the world.
The coalition — made up of Brazil, Russia, India, China, and South Africa — will convene on August 22-24 in Johannesburg. The bloc has been seeking to reduce its reliance on the U.S. dollar for more than a decade, succeeding marginally more in those efforts after America and the European Union imposed economic sanctions on Russia in 2022 following its invasion of Ukraine.
The subject of conducting trade with their respective local currencies in favor of the dollar will be among the main topics of the bloc’s agenda. Although BRICS leaders have…