How Eurasia Is Saying Bye-Bye to the U.S. Dollar: 93% Trade Switch! 🚀

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De-dollarization is exploding across Eurasia like a soda bottle shaken too hard—now 93% of EAEU trade flows through local currencies. Looks like Uncle Sam’s dollar is taking a hit, and the world is moving on, folks. Better start practicing your new currency phrases because the old greenback is slowly becoming as relevant as a flip phone at a TikTok convention. 💸💥

Russia Boasts 93% of EAEU Trade Now in National Currencies—Dollar, Who?

Oh, the glorious rise of de-dollarization in Eurasia! It’s like watching Dad finally admit he can’t handle the latest tech—except here, the tech is a shift from the almighty dollar to, wait for it, actual local currencies. Russian Deputy Minister Dmitry Volvach, sounding like a proud parent at a sports trophy ceremony, announced at the 16th International Economic Forum “Russia – Islamic World: KazanForum” on May 16: “Hey, guess what? 93% of our trade with EAEU pals now happens in our own money. We’re basically doing a financial ‘I don’t need you, USA!’ dance.”

Eurasian trade map showing currency shifts

The EAEU—Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan—are basically giving the dollar the cold shoulder, and it’s not even their exes trying to win them back. Since 2015, their local currencies have become more popular than a viral cat video. Volvach, clearly a man who enjoys bragging rights, shared that in 2015, about 70% of the trade involved their currencies, but now? A dazzling 93%. That’s almost as much as my aunt’s obsession with her vintage fridge—seriously, she makes it the star of every family gathering.

If in 2015 the share of the ruble and friends’ currencies was about 70%, then last year we hit a record 93%. Who needs the dollar? Not us, apparently—more like the Eurasian currencies are giving it a cold shoulder, like a teenager ignoring their parents’ texts.

Trade with Belarus? Over 95% in local currencies. With CIS countries like Uzbekistan and Azerbaijan? Nearly 91%. The U.S. dollar is feeling more useless than a screen door on a submarine. And guess what? All this is happening naturally, not because some politician waved a magic wand—no, it’s just market demand, or as I call it, “people finally realizing the dollar is just a really expensive Monopoly money.”

Volvach says you can’t force countries to adopt a currency—try telling that to someone who insists on eating dessert before dinner. But what you can do is offer them the currency equivalent of a puppy—something cute, desirable, and in high demand. The Russian ruble is making friends at currency swap parties, and it’s growing stronger like that one guy who hits the gym but still eats pizza every day. “It’s building good foundations,” he claims, as if trading currency had become more about emotional stability than economic necessity.

The forum, happening from May 13–18 with folks from over 100 countries (including some who probably just came for the free snacks), is part of the BRICS (Brazil, Russia, India, China, South Africa, & friends) effort to ditch the dollar and find their financial soulmate in local currencies. It’s like a clandestine dating app for countries tired of Uncle Sam’s financial baggage. They’re swapping currencies and planning for a future where the U.S. dollar might finally get a permanent vacation—perhaps to a deserted island where nobody checks the exchange rates.

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2025-05-18 06:00