China and Russia have shifted 99.1% of their cross-border trade settlements to the Chinese yuan and Russian ruble, effectively bypassing the U.S. dollar. Russian Deputy Prime Minister Alexander Novak highlighted this development on Russia's First Channel, noting the BRICS nations' efforts to increase local currency settlements as part of a broader de-dollarization strategy. The proportion of local currency transactions rose from 99% two months ago to 99.1% in September, with expectations for further growth. This move is part of a larger trend among BRICS countries to reduce reliance on the U.S. dollar in trade between developing nations. China is also conducting non-dollar transactions with other developing countries, including loan repayments and Belt and Road Initiative projects. Since 2022, the U.S. dollar's influence within the BRICS alliance has diminished, accelerated by Western sanctions.