The International Monetary Fund (IMF) has acknowledged the profound impact of geopolitical strife on the dominance of the US dollar and the broader international monetary system. BRICS nations—Brazil, Russia, India, China, and South Africa—are exploring the establishment of a new payment system and a shared currency to reduce their reliance on the dollar. This move is seen as a response to geopolitical tensions and the potential risks associated with the confiscation of Russian reserves. The IMF has warned about the possible fragmentation of the global payment system and the risks this poses to economic stability.