BRICS Shift: Over Half Of Russia’s Imports Now Settled In Rubles

Russia, an influential member of the BRICS bloc, has reached a historic monetary milestone: in February, more than half of its imports were settled in rubles. This strategic advancement, confirmed by the Central Bank, marks a clear break from the dollar-dominated system. As tensions with the West escalate, Moscow is redirecting its trade towards partners considered “friendly”, thereby redefining global financial balances and accelerating its path towards greater economic autonomy.

The monetary shift in Russian imports

In February 2025, the Russian Central Bank reported that 53.5% of Russian imports were settled in rubles, marking a major turning point in the country’s economic strategy. This figure is up compared to December 2024, when it stood at 50.8%.

Such a development fits into a voluntary process of reducing dependence on Western currencies, described as follows by the Central Bank:

The share of payments in currencies of unfriendly countries continues to decline.

The US dollar and euro, now relegated to the background, account for only 17.2% of import payments.

Thus, the published statistics help identify the regions most affected by this transition, with a significant distribution of payments in rubles according to the geographical origin of the imported goods:

• 49.6% of imports from Asia were paid in rubles, indicating strengthening economic ties with this region.
• 45.8% of imports from Latin America followed the same logic, confirming the expansion of trade partnerships.
• So-called “unfriendly” currencies (USD and EUR), once dominant, continue to decline in Russian trade flows.

This monetary reorganization is not merely accounting. It is a strategic response to circumvent systemic risks linked to sanctions, to hedge against exchange rate volatility, and to strengthen sovereign control over international payment channels.

Towards the de-Westernization of Russian trade

Beyond the numbers, this transition reflects a strategy designed to neutralize the effects of restrictions imposed by the United States and the European Union. By massively adopting the ruble as the currency for import payments, Moscow seeks to consolidate its economic sovereignty.

According to the Russian Central Bank, this choice “reduces conversion losses and improves transaction stability”, while minimizing risks linked to potential additional sanctions. This direction also promotes the use of alternative payment systems to SWIFT, particularly for trade with partners in Asia, the Middle East, or Latin America, some of whom are members of the BRICS alliance.

The rising prominence of the ruble in commercial settlements also reflects a paradigm shift in Russia’s economic alliances. While Western currencies retreat, the currencies of so-called “friendly” countries gain ground.

This is no longer just a defensive reaction to sanctions but a comprehensive repositioning in the international economic order. Moreover, this policy could strengthen cooperation with blocs such as the BRICS, where dedollarization is already the subject of advanced discussions.

These developments could redefine certain global dynamics in the medium term. If other states adopt a similar stance or encourage trade in local currencies, the dollar’s role as a reference currency could gradually erode in certain segments of international trade. While motivated by specific circumstances, Russia’s trajectory offers a concrete example of alternatives being developed in a multipolar world where economic flows tend to regionalize further.