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Trump vs. BRICS: The fight for the future of the petrodollar!
BRICS plans to end petrodollar dominance with new trade agreements in 2025 and increase tensions with the USA.
Trump vs. BRICS: The fight for the future of the petrodollar!
In a dramatic revolt against the US dollar, the BRICS alliance announces it will end the dominance of the petrodollar! The economic association has gigantic plans to trade in domestic currencies, especially in the oil sector. Will it soon be “Goodbye, Petrodollar”? Geopolitical tensions between the US and this emerging bloc are reaching new heights. The wires have been glowing ever since Donald Trump returned to the White House in 2024. The US President threatened a hefty 150% tariff to confront the BRICS countries. But none of it: no pinch in sight!
The appeal of the BRICS bloc for developing countries is growing and is attracting the interest of new members who want to help shape global economic change. This is exactly why there were three new invitations to join at the recent summit! Why the hype? The alliance, which includes heavyweights like Saudi Arabia, the UAE, Egypt and Iran, holds a staggering 40% of the world's oil and gas reserves!
Russia, under pressure from sanctions, has prepared the way for the switch: 78% of oil trade with China and India was recently settled in local currencies, while in 2021 this percentage was only 32%. If BRICS shakes off the petrodollar, it could spell thunder for the US. The whole story, with all its explosive details, at watcher.guru.