Over Half Of All Countries Worldwide Are De-Dollarizing

More than half of the countries across the world have declared a boycott of the US dollar, an analysis conducted by Russia’s Sputnik media has showed. In 2024, 14 more nations embarked on de-dollarisation, according to Sputnik’s analysis.

46 countries have switched to making transactions in national currencies, and 53 countries now openly oppose the dollar. 94 countries have not introduced any restrictive measures against the use of the currency. Access to Sputnik is banned in the West but is available via VPN.

The countries opposing the US dollar mainly include former members of the USSR, BRICS members, and their allies.

Russian Deputy Foreign Minister Sergey Ryabkov said at the BRICS summit in October that BRICS member states managed to achieve results in developing models of de-dollarisation and formalise them in agreements. 2025 is likely to see further developments related to de-dollarisation. Ryabkov stated that de-dollarisation would continue to develop “through the use of mutual clearing schemes, a long-tested method that needs to be further developed and given a multilateral nature.”

Russian Foreign Minister Sergey Lavrov said late last year that the de-dollarisation of Russia’s foreign trade is nearly complete, with about 90% of all mutual payments with China and about 50% with India being made in national currencies.