10/19/2023

BRICS: US & Europe May Soon Need Local Currencies to Buy Oil

Amid the recent BRICS expansion and the bloc’s de-dollarization approach, the US and Europe may soon require local currencies in order to buy oil. Indeed, the past several months have proven the dominance of the oil market that is maintained by the alliance. 

Moreover, the trajectory of purchases shows the bloc may soon require a move away from the greenback.

BRICS Oil US Dollar USD Currency

Geen opmerkingen: