BRICS and De-Dollarization as a Geopolitical Industrial Policy: Implications for Cuba, Venezuela, and Argentina
This paper examines de-dollarization as a geopolitical industrial policy within the BRICS framework and its implications for Cuba, Venezuela, and Argentina. De-dollarization, a process aimed at reducing reliance on the US dollar, has gained momentum among BRICS nations as a response to economic san...
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Instituto Superior de Relaciones Internacionales "Raúl Roa García"
2025-07-01
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| Series: | Política Internacional |
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| Online Access: | https://rpi.isri.cu/index.php/rpi/article/view/645 |
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| author | Alberto Maresca |
| author_facet | Alberto Maresca |
| author_sort | Alberto Maresca |
| collection | DOAJ |
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This paper examines de-dollarization as a geopolitical industrial policy within the BRICS framework and its implications for Cuba, Venezuela, and Argentina. De-dollarization, a process aimed at reducing reliance on the US dollar, has gained momentum among BRICS nations as a response to economic sanctions, monetary sovereignty concerns, and external financial shocks, particularly following the 2008 global financial crisis. For Cuba and Venezuela, de-dollarization is necessary due to US sanctions, pushing them toward alternative financial mechanisms through BRICS partnerships. Cuba’s possible de-dollarization follows increased ties with Russia, China, and Iran. Regarding Venezuela, despite its partial dollarization, Caracas seeks to strengthen non-dollar transactions through oil trade. In contrast, under President Javier Milei, Argentina has rejected BRICS and continues to debate dollarization, reflecting the country’s historical and economic ties to the US dollar. The study highlights that de-dollarization is a State-led, multilateral process influenced by external economic conditions and geopolitical alignments. While Cuba and Venezuela actively integrate with BRICS to reduce dollar dependence, Argentina’s approach remains uncertain, shaped by ideological and financial considerations.
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| format | Article |
| id | doaj-art-165d21732a04413e8be60267a3586f5f |
| institution | DOAJ |
| issn | 1810-9330 2707-7330 |
| language | English |
| publishDate | 2025-07-01 |
| publisher | Instituto Superior de Relaciones Internacionales "Raúl Roa García" |
| record_format | Article |
| series | Política Internacional |
| spelling | doaj-art-165d21732a04413e8be60267a3586f5f2025-08-20T03:17:44ZengInstituto Superior de Relaciones Internacionales "Raúl Roa García"Política Internacional1810-93302707-73302025-07-017310.5281/zenodo.15760455BRICS and De-Dollarization as a Geopolitical Industrial Policy: Implications for Cuba, Venezuela, and ArgentinaAlberto Maresca0https://orcid.org/0009-0000-3697-8092Profesor Internacional Adjunto del Sant’Anna Institute en Sorrento, Italia. Máster en Estudios Latinoamericanos de la Georgetown University, donde ha sido también un asistente de docencia e investigación. Investigador visitante en FLACSO Argentina y en la Universidad de la República de Montevideo (FCS). Máster en Diplomacia y Relaciones Internacionales por la Escuela Diplomática de España en Madrid. Licenciado en Ciencia Política y Relaciones Internacionales por la Universidad Federico II de Nápoles, Italia". Correo: alberto.maresca@santannainstitute.com; aa2689@georgetown.edu This paper examines de-dollarization as a geopolitical industrial policy within the BRICS framework and its implications for Cuba, Venezuela, and Argentina. De-dollarization, a process aimed at reducing reliance on the US dollar, has gained momentum among BRICS nations as a response to economic sanctions, monetary sovereignty concerns, and external financial shocks, particularly following the 2008 global financial crisis. For Cuba and Venezuela, de-dollarization is necessary due to US sanctions, pushing them toward alternative financial mechanisms through BRICS partnerships. Cuba’s possible de-dollarization follows increased ties with Russia, China, and Iran. Regarding Venezuela, despite its partial dollarization, Caracas seeks to strengthen non-dollar transactions through oil trade. In contrast, under President Javier Milei, Argentina has rejected BRICS and continues to debate dollarization, reflecting the country’s historical and economic ties to the US dollar. The study highlights that de-dollarization is a State-led, multilateral process influenced by external economic conditions and geopolitical alignments. While Cuba and Venezuela actively integrate with BRICS to reduce dollar dependence, Argentina’s approach remains uncertain, shaped by ideological and financial considerations. https://rpi.isri.cu/index.php/rpi/article/view/645De-dollarizationBRICSCubaVenezuelaArgentina |
| spellingShingle | Alberto Maresca BRICS and De-Dollarization as a Geopolitical Industrial Policy: Implications for Cuba, Venezuela, and Argentina Política Internacional De-dollarization BRICS Cuba Venezuela Argentina |
| title | BRICS and De-Dollarization as a Geopolitical Industrial Policy: Implications for Cuba, Venezuela, and Argentina |
| title_full | BRICS and De-Dollarization as a Geopolitical Industrial Policy: Implications for Cuba, Venezuela, and Argentina |
| title_fullStr | BRICS and De-Dollarization as a Geopolitical Industrial Policy: Implications for Cuba, Venezuela, and Argentina |
| title_full_unstemmed | BRICS and De-Dollarization as a Geopolitical Industrial Policy: Implications for Cuba, Venezuela, and Argentina |
| title_short | BRICS and De-Dollarization as a Geopolitical Industrial Policy: Implications for Cuba, Venezuela, and Argentina |
| title_sort | brics and de dollarization as a geopolitical industrial policy implications for cuba venezuela and argentina |
| topic | De-dollarization BRICS Cuba Venezuela Argentina |
| url | https://rpi.isri.cu/index.php/rpi/article/view/645 |
| work_keys_str_mv | AT albertomaresca bricsanddedollarizationasageopoliticalindustrialpolicyimplicationsforcubavenezuelaandargentina |