Fact-check analysisVerified as of July 11, 2025Curated by FactVerify
Misleading

RUSSIA completed 90% of their international trade in 2024 in NON-DOLLAR currencies.

While Russia has achieved that 90% of its trade settlements with BRICS countries are conducted in national (non-dollar) currencies, this does not mean that 90% of all its international trade in 2024 was completed in non-dollar currencies.

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Source: factverify.com

At a glance

Key Evidence

Verified July 11, 2025
The reporting

What the Evidence Shows

The claim that "Russia completed 90% of their international trade in 2024 in non-dollar currencies" conflates two related but distinct facts. Russian Foreign Minister Sergei Lavrov stated at the BRICS summit that over 48% of Russia's trade in 2024 was with BRICS countries, and within that subset, 90% of payments were made in national currencies rather than the US dollar or euro.news-pravda.comnews-pravda.comBy the end of 2024, the share of the BRICS countries in Russian trade amounted...russiaspivottoasia.comrussiaspivottoasia.comRussia’s Foreign Trade: 2024 Changes and 2025 Trends

This means that for trade specifically with BRICS nations, the use of non-dollar currencies is very high. However, this does not imply that 90% of all Russia's international trade globally was conducted in non-dollar currencies. Russia's total international trade includes significant volumes with countries outside BRICS, where dollar usage may still be substantial.

Other sources note Russia's policy to reduce reliance on the US dollar and euro and increase national currency settlements,kitco.comkitco.comDitching the dollar: Russia and China conduct 90% of trade using national... but they do not provide evidence that this applies to 90% of all international trade. Official US and Chinese trade data confirm large trade volumes but do not specify currency shares for all partners.

Therefore, the claim overgeneralizes a specific statistic about BRICS-related trade settlements to all Russian international trade. The nuance is important: the 90% figure applies to mutual settlements within a subset of trading partners (BRICS), not the entirety of Russia's global trade.

Primary trail

Verified Sources4

By the end of 2024, the share of the BRICS countries in Russian trade amounted...

news-pravda.com
Open source

Russian Foreign Minister Sergei Lavrov said at the BRICS summit in Rio de...

news-pravda.com
Open source

Russia’s Foreign Trade: 2024 Changes and 2025 Trends

russiaspivottoasia.com
Open source
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