The BRICS economic alliance has announced an extensive trade agreement that will effectively ditch the US dollar. The collective settled on an agreement with a plethora of outside nations to settle trade dealings in their national currencies, circumventing the use of the greenback.

The agreement includes all BRICS nations as well as Thailand, Laos, Sri Lanka, Kazakhstan, Venezuela, and Bolivia. Moreover, it becomes one of the bloc’s most extensive de-dollarization policies in its history. Its presence should only be magnified by the impending arrival of the bloc’s independent payment system.