Russia has strongly reacted to the US President-elect Donald Trump's recent threats targeting the BRICS nations. On Monday December 2, Kremlin spokesperson Dmitry Peskov stated that any US attempt to force BRICS countries to use the dollar would only accelerate the shift toward national currencies. "If the United States uses force to mandate the use of the dollar, it will likely further accelerate the shift to national currencies," Peskov said.

Trump had threatened on December 1 to impose 100% tariffs on BRICS countries if they created a currency to replace the dollar in international trade. He stated in a Truth Social post that the US would "no longer stand by" as BRICS nations tried to abandon the dollar. "We demand a commitment from these countries that they will not create a new BRICS currency, nor will they support any other currency to replace the mighty US dollar," Trump wrote.

"The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER," Trump had posted. "They will face 100% Tariffs and should expect to say goodbye to selling into the wonderful U.S. Economy,” he had said.

Peskov pointed out that the trend of using national currencies in global trade is gaining momentum. "More and more countries are starting to use national currencies for external trade and economic activities. This is a process gaining momentum globally," he said, also noting that the dollar's dominance as a reserve currency is eroding.

After the statement, the Russian currency Ruble gained strength in comparison to the dollar, reaching 105.00 on Tuesday, December 3 as opposed to 106.50 on a day prior.

The Kremlin’s reaction comes amid increasing discussions within BRICS about reducing reliance on the dollar, particularly after Western sanctions on Russia. Despite the dollar’s continued dominance, with the US economy performing strongly, Peskov warned that any economic pressure from Washington would only fuel this shift. “The dollar is beginning to lose its appeal as a reserve currency for a number of countries," he added.

Russian President Vladimir Putin has time and again stressed the importance of encouraging BRICS nations to use their own currencies for trade and investment. However, he has also noted that it is premature to discuss the creation of a unified currency for the group.