BRICS: 19 More Countries Gang up Against the U.S. Dollar
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The BRICS nations are currently considering the creation of a new currency for global trade as an alternative to the US dollar.
This idea has attracted the attention of several developing countries interested in joining the alliance. According to Bloomberg, 19 nations, including Saudi Arabia and Iran, have expressed their interest in becoming part of the BRICS block.
However, the decision to allow these countries into the coalition has not yet been made.
South Africa’s BRICS ambassador, Anil Sooklal, has stated that they receive membership applications daily, with 13 countries formally requesting to join and six others making informal requests.
If Saudi Arabia and Iran were to join BRICS, it could have significant implications. Saudi Arabia could use the new currency to settle international trade, adding to the pressure on the already weakened US dollar.
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Meanwhile, Iran, which is under constant sanctions for its alleged involvement in terrorism, could benefit from joining the alliance by trading freely with other nations using the new currency.
This could weaken America’s hold on the country and potentially support terrorist activities.
It is also worth noting that France recently settled an LNG gas trade with China using the Chinese Yuan instead of the US dollar.