Lukashenko Supports Future BRICS Alternative Currency
Belarusian President Alexander Lukashenko has voiced support for the eventual creation of a BRICS alternative currency, calling it a realistic development over time. Speaking in an interview with Mir TV and Radio, Lukashenko said that while the idea isn’t on the immediate agenda for most member states, the dollar's dominance continues to motivate long-term alternatives.
“It is quite possible. Over time,” Lukashenko stated. “Russia and I have long been in favor of having an alternative currency, because we see what the dollar monopoly leads to.”
Divergent Views Within BRICS
Despite Lukashenko's endorsement, official BRICS members remain divided on the issue:
India has publicly said there is no current proposal to introduce a shared BRICS currency.
Kremlin spokesperson Dmitry Peskov confirmed that the bloc is not actively discussing a common monetary unit.
Iran, which is seeking BRICS membership, has expressed support for the idea, highlighting wider interest among emerging economies in reducing dependency on the U.S. dollar.
Lukashenko referenced former U.S. President Donald Trump’s recent criticism of BRICS, interpreting it as a sign that the bloc is now seen as a strategic rival to Western dominance.
“If Trump is reacting, it means they sense a threat,”
BRICS Expansion and Global Ambitions
The BRICS bloc—Brazil, Russia, India, China, and South Africa—has in recent years been considering ways to reshape global financial structures. With new interest from countries like Iran, Argentina, Saudi Arabia, and Egypt, the coalition is growing in geopolitical weight.
Russia and China have repeatedly expressed interest in de-dollarization through bilateral trade in national currencies and the development of alternative payment systems like SPFS and CIPS.
Lukashenko emphasized that BRICS is becoming a platform for multilateral engagement, saying his participation often includes meetings with over a dozen heads of state, underscoring the bloc’s growing reach.