Dilma Rousseff and BRICS Bank Seek Ways to Finance Russia
Find out how Dilma Rousseff uses local currencies at the BRICS Bank to resume financing for Russia and reduce dollar dependence amid sanctions.
TL;DR
- The BRICS Bank, led by Dilma Rousseff, will resume financial operations with Russia.
- The strategy involves using local currencies (yuan, ruble) instead of the US dollar to bypass sanctions.
- This move aims to correct an 'injustice' against Russia due to war-related project suspensions.
- The bank seeks to minimize risks of retaliation from the US Treasury by avoiding dollar-based transactions.
- Under Rousseff, 46% of approved financing in 2025 has been in member currencies, a record.
- The bank's reliance on international markets for capital poses a risk if the US perceives these actions as sanction evasion.
- Dilma Rousseff is also negotiating for Iran to join the BRICS Bank and access its credit lines.
- Iran, like Russia, faces economic sanctions and sees the BRICS Bank as a vital alternative for international transactions.