DLNews Money:

In a bold stroke, Russia and Iran have decisively ditched the US dollar, pivoting to their local currencies and re-embracing the age-old Gold Standard for their trade transactions. This pivot is far more than a fiscal flip; it's a strategic gambit to fortify their economic sovereignty in the face of persisting US sanctions. By recalibrating their financial frameworks and grounding their deals in the stability of gold, these nations are broadcasting a clear signal: they are not just passive players in the global economy but proactive shapers of their fiscal fates.

Yet, this is more than a tale of two countries. It's a pivotal chapter in strengthening ties within the BRICS consortium, with Iran's anticipated entry in 2024 adding heft to this narrative. This shift transcends a mere goodbye to the greenback; it heralds an era of newfound prospects within this burgeoning economic colossus. As the BRICS circle widens, drawing in nations like Saudi Arabia, the UAE, Egypt, and Ethiopia, it poses a formidable challenge to the entrenched financial order, offering a compelling counter-narrative on the world stage.

Russia and Iran's decision to forsake the dollar and align with the Gold Standard is not a mere economic sidebar; it's a headline in the unfolding saga of a world in flux. It marks a seismic shift in global geopolitics, where traditional power structures are scrutinized, and fresh alliances redraw the geopolitical map. This move is more than a financial strategy; it's a resounding declaration that sends shockwaves through the existing order, ushering in new dynamics in the global economic story.