Catenaa, Monday, May 12, 2025- In a significant shift, 11 countries from the Commonwealth of Independent States (CIS) have decided to reduce their reliance on the US dollar in international transactions, as part of a growing trend of de-dollarization.
The decision follows rising global concerns over the weaponization of the US dollar, particularly under the policies of former President Donald Trump, which have led to increased geopolitical instability.
Countries such as Armenia, Turkmenistan, Uzbekistan, Azerbaijan, Belarus, Moldova, Russia, Tajikistan, Kazakhstan, and Kyrgyzstan have pledged to use local currencies for cross-border trade and investment, signaling a move toward financial independence from the US.
This trend reflects a broader shift away from the dollar as countries look for more stable and autonomous currency systems.
The de-dollarization movement has been fueled by the US dollar’s declining value, exacerbated by US sanctions and trade policies.
Deutsche Bank has raised concerns that the US dollar could lose its dominant status as the global reserve currency, citing its weakening market performance.
Goldman Sachs has also predicted further depreciation of the dollar, which could accelerate the global de-dollarization trend.
In response, these CIS countries are exploring alternative currencies and trading arrangements, seeking to safeguard their economies from potential dollar volatility. As this trend gains momentum, the future of the US dollar as the primary global reserve currency remains uncertain.
