- The BRICS bloc of emerging nations has invited six new countries to join the group.
- Iran has been the most vocal about de-dollarizing. The positions of other potential members vary.
- Including major oil exporters Saudi Arabia, Iran, and the UAE intensifies the de-dollarization debate.
The BRICS group of emerging nations may have wrapped up its annual summit with no common currency last month and members issuing contradictory commentary about the greenback — but it doesn’t mean its drive to de-dollarize is over.
The bloc is anchored by Brazil, Russia, India, China, and South Africa. It has invited six countries to join the alliance, which hopes to upset the dollar’s dominance and become an alternative to the dominant Western world order.
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