Countries around the world are actively seeking alternatives to the US dollar for international trade and preparation. This current trend has increased dramatically in 2025 as many countries adopt different approaches to leaving the US currency, reflecting significant changes in the global financial system since World War II.
National de-cooperative list: key reasons and global impact
At the time of writing, Asia, Africa, South America, and even parts of Europe have followed their own footsteps in their own way in leaving dollar hegemony. The movement is essentially changing global trade patterns, and also raises doubts about international financial arrangements that have existed for almost 80 years.
A complete list of countries leading decooperative efforts
BRICS and OIL Producers
BRICS Nations is leading the global doll movement by creating alternative payment systems and shifting trade to local currency. Several oil producers have begun to accept non-dollar currencies for crude sales, weakening the Petrodler system.
Asia and CIS countries
The ASEAN block has made great strides in establishing a local currency payments framework, reducing transaction costs and strengthening regional financial cooperation. Meanwhile, Commonwealth of Independent States (CIS) members have conducted roughly 85% of cross-border transactions using local currency rather than US dollars, following Russia’s initiative in creating alternative payment infrastructure.
African countries
African countries are increasingly sought financial sovereignty through de-cooperative initiatives. Several East African community members are working on local currency projects, while others have banned foreign currency for domestic transactions.
BRICS Alliance, the leading global dollarization
The BRICS Alliance created an alternative payment system and increased local currency trade. Their collective efforts represent the most organized challenge to dollar hegemony in recent years.
Mohammad Reza Farzin was clear about the following facts:
“We (BRICS members Iran and Russia) have signed a currency contract with Russia and have completely removed the US dollar. We currently only trade in the ruble and the real.”
Independent federations form a dollar-free zone
Eleven CIS countries have announced plans to stop using the dollar, and are currently using local currency rather than US dollars to carry out roughly 85% of cross-border transactions.
Vladimir Putin said at the CIS meeting:
“The use of domestic currency is expanding in mutual payments. Their share of commercial operations among CIS participants has already exceeded 85%. The process of import phasing is moving quickly, which strengthens our country’s technological sovereignty.”
Saudi Arabia ends its dollar monopoly for half a century
Saudi Arabia’s decision to accept non-dollar currency for oil trading shows a historical change in the oil system established in the 1970s.
Ghana’s vice president, Maham Baumia, said of their own de-communal efforts:
“The bartering of gold for oil represents a major structural change.”
Trump threatens tariffs on non-communal countries
The US responds forcefully to the decommunity trend, with political and economic warnings to the country abandoning the dollar.
President Donald Trump declared:
“Many countries are leaving the dollar. They are not going to leave the dollar with me. We place 100% tariffs on your items, so you leave the dollar and say you don’t have business with the US.”
Financial experts value the future of the dollar
Major financial institutions recognize the changing landscape, noting the continued importance of the dollar in global markets. Nevertheless, experts suggest that this domination may be waning.
Joycechan, chairman of JP Morgan’s Global Research, confirmed:
“The role of the dollar in global finance and its impact on economic and financial stability is supported by its deep liquid capital markets, the rule of law and predictable legal systems, commitment to a free-floating regime, and the smooth functioning of the financial system for US dollar liquidity and institutional transparency.”
Paul Gruenwald, Chief Economist of S&P, provided this rating.
“The US (dollar) will continue to be the major global currency (but) it is no longer the dominant global currency.”
Countries that want to gain financial sovereignty and are directed at protection from dollar sanctions are still adhering to the decoupling movement. Additionally, many countries are creating alternative payment systems to reduce vulnerability. The dollar remains strong for several more years, but the indisputable hegemony appears to be on the decline now, and as a result, it has proven to be dramatic with the impact of the international financial system.
