5 Oil-Rich Nations Ready To Join BRICS Alliance
Five oil-rich nations are ready to join the BRICS alliance and have shown interest in accepting the new currency. If oil-producing countries join the BRICS bloc, the U.S. dollar’s global supremacy faces a risk of collapse. Oil plays an important part in global trade and settling payments with the yet-to-be-released BRICS currency could doom the dollar. The five oil-rich nations that have shown interest to join the BRICS alliance are Saudi Arabia, the United Arab Emirates, Bahrain, Egypt, and Algeria. In addition, Iran has also asked to enter the BRICS bloc of nations to circumvent the U.S. sanctions. Saudi Arabia is aiding BRICS by buying Russian oil and laundering it to Europe, according to a report from Reuters. Also Read: 24 Countries Ready To Accept BRICS Currency What Happens If Oil-Rich Nations Join BRICS Alliance? Source: Mining.com Middle Eastern nations showing interest in BRICS is worrisome as the dollar could be toppled from the global reserve status. The Mid...