Think BRICS: Ex-VP of BRICS Bank Reveals Truth About Western Sanctions

Ex-VP Paulo Nogueira Batista Jr. exposes the untold truth about Western sanctions, IMF control, and dedollarization. Discover why the BRICS Bank, built to escape the dollar, remains trapped.

In this exclusive interview with Think BRICS, former vice president of the New Development Bank (NDB), Paulo Nogueira Batista Jr, takes us inside the creation and constraints of the BRICS Bank, a core institution designed to empower the global south and challenge U.S.-led financial dominance. Batista reveals how the NDB was meant to support dedollarization, facilitate alternative finance, and break dependence on the IMF, the dollar trap, and SWIFT. However, due to Western sanctions, credit rating agencies, and global market pressures, the bank struggles to maintain independence.

He explains how the BRICS founding vision is stifled by external limitations—such as the NDB’s inability to lend to Russia, despite its major shareholder status.

The video also covers China’s potential leadership in establishing a multipolar world through a new development bank under the Shanghai Cooperation Organization, using yuan-denominated bonds and avoiding Western capital markets. Batista discusses the urgent need for a new reserve currency, the geopolitical implications of bypassing the dollar, and how emerging nations are navigating complex geopolitics under financial pressure.

This interview does not dive into detailed case studies of BRICS-funded projects, technical mechanisms behind SWIFT alternatives, or specifics of the new BRICS Pay system. It also does not explore the individual economic strategies of each BRICS member beyond China and Russia, nor does it address opposition within BRICS to rapid dedollarization. Additionally, the discussion doesn’t explore public-facing fintech implications or private-sector alignment with the BRICS Bank’s evolving mission.