President Xi Jinping called on China and Russia to fully implement the important common understandings reached by him and Russian President Vladimir Putin, seize the historic opportunities, and further promote the mutual trust, cooperation and friendship of the two countries.… pic.twitter.com/yXKLxaT8KD
— Xi’s Moments (@XisMoments) May 20, 2026
Russia’s Sputnik reported the following:
Russia-China Summit Cements De-dollarization and Energy Alliance
20 May 2026
The move toward Sino-Russian trade in their national currencies is “a very important step carrying strategic dimensions,” he said, adding thet the growing Moscow-Beijing partnership “cannot be influenced from the outside.”
Ghobashy said the shift away from the dollar sends “a powerful signal” that Russia-China economic relations have entered a new phase.
Stable Russian energy supplies guarantee China “will not suffer from any possible tensions in the Strait of Hormuz,” he said.
Ghobashy said the alliance was a natural partnership between “the world’s strongest economic locomotive and a military power with the largest nuclear potential.”
He noted that the atmosphere of the Putin-Xi meeting reflected mutual trust “laying the foundation for a major strategic alliance.” The summit also sent “an extremely important signal to the United States,” coming only days after US President Donald Trump’s visit. https://sputnikglobe.com/20260520/russia-china-summit-cements-de-dollarization-and-energy-alliance-1124158928.html
The Russians had not been super bold about de-dollarization in this second Trump Administration, but this looks to have changed. That said, the intent to push the US dollar aside has been a goal that has intensified because of various USA sanctions and other policies. Related to this, RT reported:
Defying Western pressure: Russia and China deepen economic partnership
20 May 2026
Russia and China have built an expansive economic partnership while deepening coordination within BRICS, the Shanghai Cooperation Organization, the G20 and the UN Security Council. Both governments say their growing network of bilateral projects and multilateral cooperation is aimed at shielding their economies from external pressure and advancing a more “multipolar” world order.
Russian President Vladimir Putin’s two-day visit to Beijing, which began on Tuesday, is expected to further strengthen ties between the neighboring powers.
RT examines the key pillars of Russia-China economic cooperation. …
Financial integration
Russia and China have largely phased out Western currencies in bilateral trade, with nearly all transactions now conducted in rubles and yuan. Moscow says the transition has reduced reliance on “unfriendly” dollar- and euro-based financial infrastructure, making trade between the two countries more resilient to external pressure and sanctions. https://www.rt.com/business/640172-russia-china-cooperation-western-sanctions/
Note that China and Russia, specifically, are also part of the block called BRICS+.
Although Donald Trump has warned BRICS+ not to have their own currency, nations in that alliance have been increasing trade in their national currencies to bypass the use of USA dollars.
Related to some of that, in October 2024, I wrote:
Neither a possible Trump-Vance or Harris-Walz Administration has proposed anything that would truly stop de-dollarization. Actually threats against nations involved, by Donald Trump … will tend to increase the speed of de-dollarization. (Thiel B. MW: Can America Survive Global De-Dollarization? COGwriter: No! COGwriter, October 4, 2024)
Well, that is happening. There will be many unintended consequences of Donald Trump’s statements and policies.
Related to the US dollar and BRICS, the Continuing Church of God (CCOG) put together the following video on our Bible News Prophecy YouTube channel:
BRICS Push Aside USA Dollar
The BRICS nations (Brazil, Russia, India, China, and South Africa) have as one of their founding goals, to eliminate the need to use USA dollars in cross-border trade. Six additional nations have been invited to join BRICS in 2024, and India reports that six more are also being looked at. The BRICS nations have already begun to drop the USA dollar for some cross-border trading with Russia and China indicating that they had almost done so completely in late 2023. What will happen to the economy and value of the USA dollar if more and more nations stop using it as a primary reserve and trading currency? What about hyperinflation? Does the Bible prophesy destruction for a highly indented nation in the end time? Is the USA the most indebted nation of all time? What about the intent and use of the Euro? Will Europe and Asia cooperate to eliminate the USA and its British-descended allies?
Here is a link to our video: BRICS Push Aside USA Dollar.
Notice also number 13 of my list 26 items to prophetically watch in 2026
13. US Dollar Dominance will Decrease
Consider the following curse from the Book of Leviticus:
19 I will break the pride of your power; (Leviticus 26:19)
While the above undoubtedly has military & economic possibilities, consider that the US dollar is the pride of the USA’s power.
It is backed by nothing.
So, it is a prideful thing–plus it does project US power around the world.
Debt, trade, weather, morality, leadership, sanctions, bullying, and other issues have given various nations motivations to work to dethrone the US dollar as the world’s primary trade and reserve currency.
The economy of the USA has been financed, to a significant degree, by foreigners willing to provide goods to the USA on credit as well as the USA profiting from much of the rest of the world’s international trade that is dollar-based.
When the US dollar ceases to be the world’s primary reserve currency, this will foster massive inflation.
Having the world’s premier reserve currency essentially brings benefits to the USA that have included making money on international trades that the USA otherwise would not be involved in, less inflation, a subsidized economy, lower borrowing cost, a more attractive investment market, and getting many goods from foreign lands at less cost than otherwise.
This status for the USA will not continue. …
While the BRICS alliance did not ditch the US dollar in 2025, it and others have taken many steps, including considering a gold-backed system, digital currencies, and a basket of currencies. They will continue to do so in 2026.
The USA has been gambling with its currency for many years through its policies and using it as a weapon.
Its leaders basically think that they can continue to get away with it.
But one day they will not (cf. Habakkuk 2:6-8; Commentary on Habakkuk and the End of the United States). …
Dethroning the US dollar will cause massive economic problems for the USA. Much more than almost anyone believes. The standard of living in the USA has been raised/subsidized for years because of the status of the US dollar. That status is weakening. This will ultimately severely hurt the USA.
The time will come when the US dollar will be dethroned.
The Europeans, BRICS’s nations, Iran, Venezuela, North Korea, and others want to dethrone the USA dollar.
As far as Russia and China go, they will also end up in a military confederation that will have massive prophetic consequences.
Some items of possibly related interest may include:
Russia and Ukraine: Their Origins and Prophesied Future Russia in prophecy. Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end? There is also a video sermon available: Russia in the Bible and in Prophecy as are two video sermonettes Russia, Ukraine, Babylonian Europe, and Prophecy and Ukraine in Prophecy?
Is Russia the King of the North? Some claim it is. But what does the Bible teach? Here is a link to a video, also titled Is Russia the King of the North?
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? Here is a link to a related sermon: Asia in Prophecy. Two YouTube video are Is China THE Threat to the United States of America? and China: A King of the East.
26 items to prophetically watch in 2026 Much is happening. Dr. Thiel points to 26 items to watch (cf. Mark 13:37) in this article. Here is a link to a related sermon: 26 Items to Watch in 2026.
Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? What about other peoples? Do you really know what will happen to Europe and the English-speaking peoples? What about Africa, Asia, South America, and the Islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon; When Will the End of the Age Come?; Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.
Spiritual Samaritans: Old and New Who were the Samaritans? Do the represent true Christianity or something else? Here is a link to a related sermon: USA in Prophecy: Samaria.
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold and silver? Two videos of related interest may be: Germany, Gold, and the US Dollar and Silver, Science, and Scripture.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is are links to related videos: European history and the Bible, Europe In Prophecy, The End of European Babylon, and Can You Prove that the Beast to Come is European?
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Is a Donald Trump presidency proving to be apocalyptic? Three related videos are available: Donald: ‘Trump of God’ or Apocalyptic? and Donald Trump’s Prophetic Presidency and Donald Trump and Unintended Consequences.
Unintended Consequences and Donald Trump’s Presidency: Is Donald Trump Fulfilling Biblical, Islamic, Greco-Roman Catholic, Buddhist, and other America-Related Prophecies? Is Donald Trump going to save the USA or are there going to be many disastrous unintended consequences of his statements and policies? What will happen? This is a free eBook.