N. Korea claims expansion of BRICS could speed up end to US dollar's supremacy

This photo, provided by North Korea's Korean Central News Agency, shows a plenary meeting of the eighth Central Committee of the ruling Workers' Party of Korea taking place, with leader Kim Jong-un in attendance, June 19. Yonhap

North Korea's state media claimed Sunday that an expansion of the so-called emerging BRICS nations could challenge and eventually speed up an end of the domination of the U.S. dollar.

In an article carried by the North's Korean Central News Agency (KCNA), Jong Il-hyon, an international affairs analyst of North Korea, criticized the U.S. for using the dollar and its military might as means for "hegemonism."

BRICS ― Brazil, Russia, India, China and South Africa ― held a meeting of its foreign ministers in South Africa earlier this month.

"The unprecedented international moves to limit the use of dollar and the tendency of many countries to join BRICS are accelerating the end of dollar as a key currency and the end of the U.S. hegemonism pursuant to it," the analyst said.

"Today, the U.S. has resorted to every means and method to maintain the supremacy of dollar as the key currency, and unhesitatingly committed despicable acts of imposing financial sanctions on those countries which incur its displeasure by abusing the predominant position of dollar," Jong said.

Recently, North Korea has voiced criticism on U.S. foreign policies via KCNA articles written by international affairs analysts. (Yonhap)