Russia is actively seeking new alliances and seeking to undermine the dominance of the US dollar. According to Russian Deputy Prime Minister Alexei Overchuk, the government is looking for partners and accelerating the introduction of the BRICS currency.
If more countries accept the future currency of the BRICS, this could have a negative impact on the US dollar, causing it to fall.
Overchuk revealedthat Russia is particularly interested in strengthening its relations with the oil-rich Islamic states of the Middle East, such as Saudi Arabia, Bahrain and the United Arab Emirates, which have already expressed a desire to join the BRICS alliance.
At an economic forum, Overchuk stressed that global changes and trends, including de-dollarization processes and the creation of an independent financial system, will inevitably affect Russia’s interaction with the Islamic world.
Anticipating a positive future for Russia-Middle East ties related to de-dollarization, the Russian Deputy Prime Minister highlighted the government’s further efforts to develop them.
In particular, Russia is looking at the Middle East as a potential market for cross-border energy and food supply deals.
If Russia succeeds in persuading oil-rich Middle Eastern countries to adopt the BRICS currency, the US dollar will bear the brunt of the impact.
Saudi Arabia, a major oil producer that exports significant amounts daily to the US and Europe, could cause significant upheaval in the US economy by settling international transactions using the new BRICS currency instead of the US dollar.
This development could change the dynamics of geopolitical forces in Asia and the Middle East. Saudi Arabia’s participation in BRICS could rethink traditional alliances with world powers such as the US and the European Union.
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