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. (Reporting by Reuters; Writing by Anastasia Teterevleva; Editing by Mark Trevelyan)

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

The Kremlin said on Monday that any U.S. attempt to compel countries to use the dollar would backfire after U.S. president-elect Donald Trump threatened to impose tariffs on BRICS countries if they created their own currency.

The BRICS alliance is a bloc of nine countries that in recent years looked to reduce dependence on the U.S. dollar.

President-elect Donald Trump is threatening 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar

Donald Trump continues to threaten tariffs against foreign nations, this time toward a bloc of nine countries if they try to undermine the dollar's global dominance.

"We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face