The Kremlin on Friday brushed off a repeat threat by U.S. President Donald Trump to impose tariffs on the BRICS grouping of countries if it created its own currency, saying there was no such plan.

Russia warned that U.S. efforts to enforce dollar use could backfire. The BRICS nations, while discussing a common currency, are unlikely to replace the dollar, as Trump threatens 100% tariffs on countries attempting to do so amid U.

In recent years, Brics has become one of the most economically powerful groups. Two of its member states are among the top five largest economies in the world

The grouping does not have a common currency, but long-running discussions on the subject have gained some momentum.

In a post shared on social media platform Truth Social, Trump declared that the United States would not stand idly by while the BRICS bloc pursues the development of an alternative currency.

President Donald Trump said on Thursday that there is no chance for BRICS countries to replace the US dollar. "The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch,

President Donald Trump on Thursday warned off BRICS member countries from replacing the US dollar as a reserve currency by repeating a 100%-tariffs th

United States President Donald Trump on Friday reiterated his threat to impose 100% import tariffs on BRICS countries if they moved towards reducing reliance on the US dollar in global trade, reported The Indian Express. In a post on Truth Social, Trump said the US “will not stand idly by” while BRICS countries develop an alternative currency.

US President Donald Trump has promised to impose 100% tariffs on the BRICS nations if they decide to create their own currency to replace the US dollar. Source: Trump on Truth Social, as reported by European Pravda Quote from Trump: "The idea that the BRICS Countries are trying to move away from the Dollar,