It is not true that Russia is completely switching to the US dollar — this is an exaggeration.

According to the latest developments in February 2026, based on Bloomberg’s February 12 report:
• A leaked document from within the Kremlin suggests a possible agreement with the Trump administration, including a proposal to partially return to a dollar-based payment system within the scope of Ukraine peace talks.
• The idea of reusing the dollar in energy trade (oil/LNG) and international transactions is on the table.
• Goal: Lift sanctions, attract US companies to Russia, and gain economic benefits.
However:
• This is not an official decision or policy change, only a negotiation proposal / suggestion.
• Russia has been pursuing a de-dollarization / de-dollarization policy for years: most trade is conducted in rubles, yuan, rupees, etc. (over 90% with China/India in local currencies).
• Dollar usage is already very limited due to sanctions.
• The BRICS countries are continuing to move away from the dollar.
In short: the claims that “Russia is returning to the dollar” are misunderstood or exaggerated. Only a partial return is being discussed for a major agreement package with Trump, but it is uncertain and has not happened yet. Currently, the ruble is strong in the 77-80 range, and de-dollarization continues.
If a new official statement is released, the situation could change, but for now, the answer is no.
(Russia #US