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 <h2 id="strong-span-data-preserver-spaces-true-brics-s-power-lay-oil-as-a-currency-weapon-span-strong"><strong><span data-preserver-spaces="true">BRICS’s power lay: oil as a currency weapon</span></strong></h2> 
 <p><span data-preserver-spaces="true">The&nbsp;</span><span data-preserver-spaces="true"><a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a></span><span data-preserver-spaces="true">&nbsp;alliance, representing some of the world’s major economies, has actively pursued de-dollarization, with oil trade taking centre stage. Recent actions by these countries indicate a concerted effort to&nbsp;</span><span data-preserver-spaces="true">reduce</span><span data-preserver-spaces="true">&nbsp;reliance on the US dollar.&nbsp;</span></p>  
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 <p><span data-preserver-spaces="true">India settled crude oil transactions with the UAE in Rupees, while France opted for the Chinese Yuan in its gas trade with China. Besides, Russia has followed suit, leveraging the Yuan for its oil imports.</span></p> 
 <p><span data-preserver-spaces="true">In his open Fox Business&nbsp;</span><span data-preserver-spaces="true">interview</span><span data-preserver-spaces="true">, Trump stressed the importance of these initiatives. He said, “Our country is going to hell, and we’re not going to be the big boy.” Additionally, he worried about the US dollar’s declining worldwide influence. Such shifts, he believes, could have consequences graver than any war, particularly if the US dollar loses its reserve currency status.</span></p> 
 <h2 id="strong-more-countries-joining-brics-strong"><strong>More Countries Joining BRICS?</strong></h2>  
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 <p><span data-preserver-spaces="true">Significantly, Saudi Arabia’s potential inclusion in <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> has caught international attention. Morocco also recently sent proposal for <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> membership. Given that the country holds a dominant position in OPEC and has predominantly traded in US dollars for the past 50 years, its </span><span data-preserver-spaces="true">shift</span><span data-preserver-spaces="true">&nbsp;would be monumental. Consequently, if the country leans towards <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a>, a considerable chunk of oil sales may bypass the US dollar altogether.</span></p>  
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 <p><span data-preserver-spaces="true">Hence, the upcoming <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> summit in Johannesburg holds substantial weight. If </span><span data-preserver-spaces="true"><a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> expansion</span><span data-preserver-spaces="true">&nbsp;plans, especially concerning Saudi Arabia, materialize, it might profoundly alter the economic power dynamics. With the possibility that 90% of oil sales might no longer settle in US dollars, the ramifications for the United States could be significant.</span></p> 
 <p><span data-preserver-spaces="true">The <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> alliance’s continued pursuit of economic independence and dominance might influence other nations to pivot away from the US dollar. If Trump’s warnings hold water, the world will watch how these geopolitical manoeuvres play out.</span></p> 
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Donald Trump Warns of Dollar's Demise Amid BRICS-Oil Moves

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