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BRICS FMs Split Over Iran War as New Delhi Meeting Fails to Agree
world11 days ago

BRICS FMs Split Over Iran War as New Delhi Meeting Fails to Agree

BRICS foreign ministers’ meeting in New Delhi ended without a joint stance on the US-Israel war on Iran, with Iran urging condemnation of Western aggression and the UAE pressuring for language condemning Iranian strikes; the outcome document notes “differing views” among members and avoids assigning blame, while other topics like energy, trade, and climate saw progress under India’s presidency ahead of a September leaders’ summit.

via Al Jazeera|
#brics#diplomacy#iran-war
Trump's Iran strikes accelerate a multipolar shift away from dollar dominance
world2 months ago

Trump's Iran strikes accelerate a multipolar shift away from dollar dominance

Trump’s strikes on Iran, framed as a breach of international norms, are part of a broader push that is accelerating de-dollarisation and a move toward a multipolar financial system. Central banks are diversifying reserves, new settlement infrastructures and digital currencies are forming, and BRICS-linked initiatives could bypass the dollar. While the dollar remains dominant in trade and U.S. Treasuries are still sought in crises, its share of global reserves has fallen from about 71% in 2001 to roughly 57%, signaling growing non-American financial influence and potential costs for Washington amid rising deficits.

via The Guardian|
#brics#central-banks#de-dollarisation
world3 months ago

IMF drills for potential dollar rush

The IMF is preparing for extreme scenarios, including a rapid sell-off of dollar-denominated assets, as Georgieva says the Fund models “unthinkable” events. With Trump tariffs and criticisms of the Fed, confidence in the dollar has waned, gold prices surged, and BRICS nations are pursuing de-dollarisation. Georgieva suggested Europe issue more common debt to offer a safe asset alternative, though political resistance makes this difficult. The dollar’s status as the global reserve currency is not expected to change imminently due to the size and liquidity of US debt markets.

via Euractiv|
#brics#de-dollarisation#eu-common-debt
Washington accuses Pretoria of aligning with Iran as Brics+ drills unfold off SA coast
world4 months ago

Washington accuses Pretoria of aligning with Iran as Brics+ drills unfold off SA coast

The United States accuses South Africa of defying government orders by allowing Iranian warships to stay for the Brics+-led naval exercise near Cape Town, prompting Pretoria to launch an inquiry. Washington says the participation undermines maritime security and signals an alignment with Iran amid Iran’s crackdown protests, while SA insists it is following official instructions. Brics+ has expanded with Iran and other members, reshaping regional and global dynamics.

via BBC|
#brics#iran#maritime-security
Trump's Venezuela Oil Strategy Sparks Market Turmoil
world4 months ago

Trump's Venezuela Oil Strategy Sparks Market Turmoil

The article argues that the US invasion of Venezuela is primarily driven by the desire to protect the US dollar's dominance through the petrodollar system, which is under threat as Venezuela and other countries move away from dollar-based oil transactions and join de-dollarization efforts with BRICS. Historically, challenges to the petrodollar have led to regime changes, and the current invasion is seen as a last-ditch effort to maintain US economic hegemony through violence and control of strategic resources. The article suggests this may accelerate global de-dollarization and weaken US influence.

via Daily Kos|
#brics#de-dollarization#petrodollar
Putin criticizes sanctions and promotes economic ties ahead of China visit
world8 months ago

Putin criticizes sanctions and promotes economic ties ahead of China visit

Russian President Vladimir Putin expressed strong support for expanding the BRICS grouping as a counterbalance to Western sanctions and called for reforms in global financial institutions to promote fairness and development for emerging economies, emphasizing closer cooperation with China and efforts to prioritize the Global South at the SCO summit.

via The Times of India|
#brics#economic-sanctions#global-financial-reform
BRICS and Global Alliances: Navigating Trump's Impact and Shifting Power Dynamics
world9 months ago

BRICS and Global Alliances: Navigating Trump's Impact and Shifting Power Dynamics

The article discusses the shifting geopolitical landscape involving India, Pakistan, and the US, highlighting India's move closer to BRICS amid US tariffs and tensions, Pakistan's historical alliance with the US and its economic challenges, and the broader implications for global power dynamics, especially with China's growing influence and the potential strengthening of BRICS as a counterbalance to US dominance.

via Crude Oil Prices Today | OilPrice.com|
#brics#geopolitics#india