BRICS Alliance Grows as Saudi Arabia, UAE Join; Seeks to Boost Own Currencies and Challenge Dollar Dominance in Oil Trade

BRICS alliance expanding with 6 new member countries joining in 2024, including major oil producers Saudi Arabia & UAE.

BRICS seeking to reduce reliance on US dollar, reflected in recent oil deal between UAE & India conducted in rupees.

Saudi Arabia & Russia have cut oil production, demonstrating BRICS bloc's power in global oil market.

This oil influence could pressure US & Europe to purchase oil in local BRICS currencies rather than dollars.

With BRICS controlling much of global oil supply, they could wield this power to advance de-dollarization goals.