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The Economic Times

Opinion / The Economic Times

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US sanctions have India cornered. BRICS charts an escape route

US sanctions have significant implications on international trade, especially concerning countries like India. As BRICS countries explore alternative payment systems, the renminbi could become an attractive option. This change might reduce reliance on the US dollar and offer nations more strategic autonomy. The recent discussions emphasize the importance of cross-border interoperability and local-currency settlements among BRICS members. These developments highlight a potential shift in global economic power dynamics.

21 Oct 2026 11:27 pm