As a result, the US is gradually losing its market share in both emerging and existing sectors, accelerating the de-dollarization process.

Source: https://cyprus-mail.com/2023/06/17/as-crypto-capital-flows-from-the-us-filecoin-cosmos-and-algorand-investors-double-down-on-digitoads/

For much of the year, the BRICS bloc has seen a renewed focus on de-dollarization.

Source: https://biztoc.com/x/c0cc5f8e8032fce1?ref=ff

In Putin’s virtual address the day prior, he emphasized that de-dollarization is “gaining momentum”.

Source: https://www.lewrockwell.com/2023/08/tyler-durden/xi-putin-hail-first-brics-expansion-in-over-a-decade-as-gulf-oil-powers-join/

The government (a) implemented a “Russification” policy to protect potential sanctions targets, (b) sought new economic and political partnerships, (c) retaliated against the countries imposing sanctions, and (d) attempted de-dollarization.

Source: https://www.lawfareblog.com/can-you-sanctions-proof-government

The signs that de-dollarization is taking place are certainly there but this will not result in an overnight abandonment of the dollar as the world’s global reserve currency unless a very dramatic shift in geopolitics was to take place.

Source: https://greekreporter.com/2023/06/11/de-dollarization-world-economy/

With the BRICS Summit set to arrive in just a few weeks, the economic alliance is set to continue its embrace of de-dollarization.

Source: https://biztoc.com/x/bfa4089220a55878?ref=ff