De-Dollarization is Reaching 100%, Russia and China Bypass the West Entirely
De-Dollarization is Reaching 100%, Russia and China Bypass the West Entirely
Lena Petrova: 11-8-2025
For nearly a century, the US dollar has reigned supreme, the undisputed king of global finance. It’s been the bedrock of international trade, the primary reserve currency, and the go-to for settling accounts across borders.
But beneath the surface of this perceived stability, a silent revolution is underway—a phenomenon known as “dellorization.”
This isn’t a planned coup or a sudden uprising. Instead, it’s a gradual, market-driven adaptation, heavily accelerated by geopolitical shifts and, ironically, the very Western sanctions designed to assert financial power. We’re witnessing a fascinating transformation, particularly evident in the rapidly deepening financial partnership between Russia and China.
The catalyst for this accelerated shift was undeniably the extensive sanctions imposed on Russia following the 2022 UKraine conflict.
These severe restrictions, which saw Russia largely cut off from Western-dominated financial infrastructures like the US dollar and euro systems, forced a radical re-evaluation of its economic strategy.
The response has been swift and decisive: a strategic pivot eastward, with China emerging as Russia’s largest trading partner and primary buyer of its oil. The numbers speak volumes: Russia’s Finance Minister Anton Siluanov recently announced that a staggering 99.1% of trade settlements between Russia and China now occur in their local currencies—the ruble and yuan.
This isn’t just a statistic; it’s a powerful statement of financial independence, effectively bypassing the very systems that Western sanctions sought to control.
This trend isn’t confined to Moscow and Beijing. It’s part of a broader movement among nations worldwide—especially within the BRICS bloc (Brazil, Russia, India, China, South Africa) and other regional alliances like ASEAN and the Shanghai Cooperation Organization.
Their goal? To reduce dependence on the US dollar, insulate themselves from potential future sanctions, and mitigate financial shocks.
This shift represents more than just a tactical move; it’s a profound philosophical and practical change. Nations are prioritizing economic resilience and financial sovereignty, seeking to diversify away from traditional Western financial hubs like Washington, London, and Brussels.
While the momentum for dellorization is undeniable, the path to a truly multipolar financial world isn’t without its challenges.
The political and economic diversity among BRICS members, for instance, means not all nations share the same urgency or capability to decouple from Western economies. The US, naturally, has signaled its readiness to resist these efforts through sanctions and tariffs, aiming to protect the dollar’s dominance.
However, historical precedent suggests that currency dominance follows economic power shifts gradually. The Russia-China trade milestone is a key indication that we might be witnessing the early stages of a new era in global finance—one marked by complexity, multipolarity, and a strong emphasis on economic sovereignty.
The weaponization of the dollar, while powerful in the short term, may ultimately be accelerating its long-term decline by prompting viable alternatives to emerge. As more nations seek to control their own financial destinies, the global financial landscape is set for a fascinating and complex evolution.