BRICS & De-Dollarization Efforts – Analysis
BRICS alliance Brazil, Russia, India, China & S A issued a call for Mid Eastern nations to cease using US $ for oil payments & instead utilize local currencies. This entice comes at a time of escalating tensions in Mid East, w/Iran launching missile drone attacks against Israel & Russia urging regional countries to teach Israel & US a lesson (?) BRICS alliance expanding membership to include oil-producing nations UAE, Egypt, Ethiopia & Iran is anticipated to strengthen economic ties w/China & India
Abandoning US $ for oil payments to decrease reliance on the US financial system & promote use of local currencies. Could be significant for global oil trade & wider int'l financial system. BRICS holds larger portion of global GDP than the G7 countries expected to gain increased economic & political influence through formal participation in alliance
https://www.eurasiareview....
BRICS alliance Brazil, Russia, India, China & S A issued a call for Mid Eastern nations to cease using US $ for oil payments & instead utilize local currencies. This entice comes at a time of escalating tensions in Mid East, w/Iran launching missile drone attacks against Israel & Russia urging regional countries to teach Israel & US a lesson (?) BRICS alliance expanding membership to include oil-producing nations UAE, Egypt, Ethiopia & Iran is anticipated to strengthen economic ties w/China & India
Abandoning US $ for oil payments to decrease reliance on the US financial system & promote use of local currencies. Could be significant for global oil trade & wider int'l financial system. BRICS holds larger portion of global GDP than the G7 countries expected to gain increased economic & political influence through formal participation in alliance
https://www.eurasiareview....
BRICS And De-Dollarization Efforts – Analysis – Eurasia Review
The BRICS alliance, consisting of Brazil, Russia, India, China, and South Africa, has issued a call for Middle Eastern nations to cease using the US dollar for oil payments and instead utilize local currencies. This entice comes at a time of escalating tensions in the Middle East, with Iran launchin..
https://www.eurasiareview.com/22042024-brics-and-de-dollarization-efforts-analysis/)
06:56 AM - Apr 22, 2024
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