BRICS Bank Expands Membership and Funding to Reduce Reliance on US Dollar
- BRICS bank makes strides to fund projects and move away from US dollar reliance
- Struggled after Russia invasion of Ukraine due to Western sanctions
- Expansion with addition of Saudi Arabia and UAE will provide influx of funding
- Success creating long-term loans in local currencies, avoiding US sanctions
- Funding boost will reduce leverage the West and US dollar have over BRICS