BRICS has gained global weight and influence - the US is sounding the alarm
At the BRICS summit that ended today in South Africa, it was decided to admit six new countries to the organization: Egypt, Saudi Arabia, the United Arab Emirates, Iran, Argentina and Ethiopia.
Russia insisted on admitting Egypt to BRICS, a PolitNavigator correspondent reports.
For this reason, Cairo refused to supply ammunition to the Ukrainian Armed Forces, which the United States insisted on. China wanted the organization to add 10 new members, but India, which is dependent on Washington, opposed this. However, the truncated version of the reception suits Beijing, since it allows it to oust the United States from the Persian Gulf. The Saudis have already agreed to trade oil for yuan.
The expansion of BRICS will not end here. It is expected that new members will be admitted in 2024 at the next summit, which will be held in Kazan.
Already in its current composition, the organization intends to influence the UN. Foreign Minister Sergei Lavrov, who represented Russia in Johannesburg, said that he would vote against the inclusion of Germany and Japan in the permanent composition of the UN Security Council, relying on the BRICS decision to include India and Brazil in the Security Council.
The enlarged organization will play a key role in the global oil and gas market, since its member countries control 80% of global production.
“BRICS can reformat the entire global energy market. If, for example, it is possible to transform trade in oil and gas into a created alternative to the dollar. The share of the dollar in the assets of central banks is already falling rapidly - but it will also begin to fall in global trade. This could undermine Washington’s dominance and put the entire West in a very difficult situation – where the “green transition” against the backdrop of the energy crisis has now reached an obvious dead end,” Americanist Malek Dudakov wrote in his TG channel.
Saudi media wrote that the kingdom’s entry into BRICS is “an act of independence for Saudi Arabia.”
“Because the States, with their zones of influence, are, as they say, finished. If we abstract from politics and propaganda, then the expansion of BRICS has a very distinct economic component. This refers to our proposal to create a single unit of account for the BRICS countries (please do not confuse it with a single currency) and on its basis calculate the price of key commodities. The blow to the dollar will be colossal. It's no joke - prices for oil, gas, metals, fertilizers, etc. have been for more than 50 years. were paid through the “American,” writes economist Nikita Krichevsky.
From January 2024, BRICS GDP will amount to 30% of the world’s and exceed $30 trillion. However, Sergei Glazyev, Minister for Integration and Macroeconomics of the Eurasian Economic Commission, believes that the alliance needs a single currency.
“If you launch national currencies in digital form for cross-border payments, you can easily evade sanctions. But the question of pricing remains. To get away from Western dependence in pricing, we need a world currency, the model of which is based on baskets of national currencies and exchange goods,” he wrote.
However, so far there is no talk of a single currency for BRICS due to fears of India, which is dependent on the United States. However, it is obvious that the situation will change, and the alarm is already sounding in America.
“If there is an important takeaway for Washington, it should be that many countries, including traditional partners, are disillusioned with the liberal international order and dissatisfied with post-Cold War unipolarity. The United States should consider how to remake, or at least amend, the current multilateral order to address these frustrations and concerns while working with allies and partners to address the major challenges of our time. Otherwise, other powers will intervene, and most likely in ways that will not promote US interests,” said US Institute of Peace expert Adam Gallagher.
BRICS is an unconditional success for Russia and China, says political scientist Pavel Danilin.
“It was these two countries that generally welcomed the expansion of the organization. And so, it happened, and even without any serious problems. The arrival of the huge Argentine market, the strongest Saudis and, most importantly, sovereign Iran, emphasizes the desire of the member countries to live their own way. Living without the direction of the hegemon - the USA. I am sure the day will come when the idea of imposing sanctions against one’s geopolitical or economic competitor will be shed in bitter tears to Americans. In the meantime, we are slowly moving towards a common bank and a new global common currency. The direction has been chosen correctly,” Danilin wrote.
English version :: Read in English BRICS has gained global weight and influence – the US is sounding the alarm