BRICS Nations Report Over 67% of Intra-Bloc Trade Settled in Local Currencies

This report details how the BRICS+ alliance—including China, Russia, Iran, India, and the UAE—exceeded $1 trillion in intra-group trade, with more than two-thirds settled using national currencies rather than the US dollar.

By leveraging direct currency pairs and developing linked payment frameworks, member states have significantly bypassed traditional Western banking corridors. This directly validates your argument that sanctions and economic friction are driving an unprecedented operational shift toward non-dollar, local-currency trade networks.