International Sanctions and Economic Restructuring: Modelling the BRICS Monetary Initiative as Counter-Power
Journal: Journal of BRICS Studies
Year: 2026

This paper explores the BRICS (Brazil, Russia, India, China, South Africa) monetary initiative in the context of international sanctions and economic restructuring. Since 2014, Russia, faced with severe sanctions after the annexation of Crimea, has reoriented its trade relations towards non-Western partners, particularly within the BRICS. This situation has catalysed thinking about the creation of a common currency to reduce dependence on the US dollar and the euro, currencies often used to exer