The 10th BRICS Parliamentary Forum has kicked off in the Russian city of St. Petersburg, with de-dollarization being at the top of the agenda of the event that saw the participation of Iran’s Parliament Speaker Mohammad Baqer Qalibaf.

If the current financial order collapses, the United States will turn to the world’s worst country in penury right away.   

Strengthening the national currency is one of the key pillars of de-dollarization because when the national currency is strengthened.

Prime Minister Ibrahim said, however, it would be difficult to stop the reliance on the US dollar.

South African President Cyril Ramaphosa said on Wednesday that the BRICS group of nations would continue discussions on practical use of local currencies to facilitate trade and investment flows.

Russia's President Vladimir Putin says the shift away from the US dollar in internal trade among the members of the BRICS is an "irreversible process."

The crippling sanctions imposed by the US on countries such as Iran and Russia have prompted them to look for ways to ditch the greenback that US uses as a “stick” against others, says an Indian journalist.