"Lula again expressed his desire to see international trade move away from the hegemony of the US dollar. Dilma Rousseff, Lula’s former chief of staff who succeeded him in office, was elected in March as the president of the New Development Bank, also known as the BRICS bank.

Under Maduro and his predecessor Hugo Chávez, Venezuela has strongly backed counter-hegemonic development efforts and blocs. The US-led sanctions regime on Venezuela is made possible in part due to the dominance of the US dollar as the monetary instrument for international trade."