The dollar loses ground: country surprises by announcing it will leave it behind

The dominance of the dollar is no longer unquestionable. In different corners of the world, several emerging countries are starting to distance themselves from the US currency and seek alternatives that allow them to grow with greater financial autonomy. In Central Asia, a new player took a strong step in that direction.
The dollar loses ground in Central Asia
Uzbekistan announced its incorporation into the BRICS+ block, a decision that brings it closer to powers like China, Russia, and India. This move reflects a pragmatic strategy: diversify economic ties without breaking ties with the West.
The entry of Uzbekistan into BRICS+
During the June 2025 summit in Brazil, Uzbekistan was officially recognized as a BRICS+ partner. As part of the agreement, it entered the New Development Bank, which will allow it to finance key projects in infrastructure, mining, irrigation, and education, with an estimated backing of 5.000 million dollars.
Country surprises the world: announces it will leave the US dollar behind
The measure does not imply a rupture with the United States or Europe, but rather the search for a balance that reduces dollar dependence. The Uzbek government is betting on opening up to new financial alternatives in an increasingly polarized international scenario.
The geopolitical context adds complexity. Alongside its approach to BRICS+, Washington – under the presidency of Donald Trump – warned that it will impose a 10% tariff on countries that support ‘anti-American’ policies. This puts Uzbekistan in a delicate position between East and West.