BRICS Demands Middle East Ditch Dollar for Oil Trade! Petrodollar explained

26.08.2024 Video Credit #AfricaReloaded - #brics #usa #saudiarabiaded - It's no longer a secret that one of the major goals of the BRICS alliance is dethroning the dollar. Since 2022, after the US freezed all Russia’s assets as a result of the Russian l-Ukrainian war, Russia together e with other members of the BRICS group has been pushing the de-dollarization campaign, to ensure that the dominance of the dollar is completely eliminated and also to reduce the economic power and weapon of the US in terms of sanctioning other countries that do not fall in line with its agenda.
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As part of the de-dollarization campaign, BRICS have been encouraging countries around the world to ditch the dollar and use local currencies for international trade and guess what? A lot of countries including India, China, Egypt and Iran have adopted this policy.
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However, BRICS with Russia at its head, has decided to take the de-dollarization campaign a notch higher. This time, BRICS wants to destroy the powerhouse of the dollar.
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Have you ever asked yourself “why is it that the dollar is the most dominant currency in the world? Why is it the top currency used in bilateral trade? What gives the dollar so much dominance?
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The answer to these questions is what we mean by the powerhouse of the dollar and that is the petrodollar economy.
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It is this economy that BRICS plans to destroy and if it happens will cripple the dominance and the hegemony of the dollar. So, what is the petrodollar economy? What will happen to the dollar if the petrodollar economy is destroyed? Let’s find out. source http://tiny.cc/AfricaReloaded
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