82GEOPOLITICS
⚡ Markets: Long-term, successful de-dollarization efforts could reduce demand for US Treasury debt and weaken the US dollar's reserve status. In the short term, summit rhetoric reinforces geopolitical bloc formation, impacting strategic asset allocation.USDCNYRUBGold
Leaders from the BRICS nations, including China's Xi Jinping, Russia's Vladimir Putin, and Iran's Masoud Pezeshkian, are gathering in New Delhi for a summit focused on deepening trade, linking payment systems, and increasing the use of local currencies to counter Western sanctions and US dollar dominance. The meeting is overshadowed by wars in Ukraine and the Middle East, testing the bloc's unity.
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