Kremlin says Trump threat to BRICS nations against replacing U.S. dollar will backfire

Kremlin spokesman Dmitry Peskov, commenting on U.S. President-elect Donald Trump's threat to impose tariffs on BRICS countries if they create their own currency, said on Monday that any U.S. attempt to compel countries to use the dollar would backfire.

Peskov said the dollar was losing its appeal as a reserve currency for many countries, and the trend was gathering pace.

Trump on Saturday demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the United States dollar, saying they would otherwise face 100% tariffs.