Eleven Former Soviet Republics Move to Ditch U.S. Dollar in Bold Economic Shift
April 6, 2025 — In a historic step that signals a significant shift in global economic dynamics, eleven nations from the Commonwealth of Independent States (CIS) have announced plans to reduce their reliance on the U.S. dollar in favor of their own local currencies. Since World War II, the U.S. dollar has reigned as the dominant global currency, accounting for approximately 80% of international trade, including the purchase of oil and other critical raw materials. However, a coalition of former Soviet republics is now challenging this long-standing status quo. The countries involved in the de-dollarization initiative include Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Uzbekistan, and Ukraine. Their collective goal is to strengthen domestic monetary systems, reduce economic dependency on the United States, and foster a more resilient regional trade network. While this is not an immediate farewell to the dollar, it repre...
