
The Kremlin has downplayed former U.S. President Donald Trump’s latest warning of tariffs on BRICS nations, insisting the bloc has no plans to introduce a common currency.
Speaking on Thursday, Trump reiterated his threat of 100% tariffs on BRICS members if they moved to replace the U.S. dollar as a reserve currency. The warning echoes similar remarks he made shortly after winning the November election.
However, Kremlin spokesman Dmitry Peskov dismissed the claims, stating that BRICS—comprised of Brazil, Russia, India, China, and recently expanded to include other nations—has never discussed creating a unified currency. Instead, he said, the group is focused on developing joint investment platforms.
“This is not the first time Trump has made such statements—it’s nothing new. He said the same thing when he was president-elect,” Peskov told reporters.
“BRICS is not considering a common currency, nor has it ever done so. The discussions are about facilitating mutual investments, creating joint platforms, and funding projects in third countries,” he explained.
Peskov suggested that U.S. advisors should clarify the BRICS agenda for Trump, adding that Washington’s efforts to enforce dollar dominance could backfire.
While BRICS has no official currency, its members have increasingly explored trade in national currencies, particularly after Western sanctions on Russia following the Ukraine war.