Expanded BRICS to Command Over 40% of Global Crude Oil Output, Think Tank Dubs Move a ‘Warning’ to America
A Washington-based think tank, the Atlantic Council, believes that the expansion of BRICS (Brazil, Russia, India, China, and South Africa) to include new countries is a significant development with implications for the United States.
Key points:
– The addition of new countries to BRICS is seen as a sign of shifting geopolitical winds and the emergence of a multipolar world order.
– The BRICS states, including the newly invited members such as Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates, aim to reduce the global economic and financial leverage of the United States, creating a more level playing field.
– This expansion also presents an opportunity for countries like Iran to further reduce the impact of sanctions.
– The United States should take this as a warning and prioritize strengthening and renewing relationships with its allies.
– With the addition of these six new nations, BRICS will command over 40% of global crude oil production, giving the economic coalition significant influence in the oil market.
Hot Take
The expansion of BRICS to include new countries is a clear signal of the changing global power dynamics. As the economic coalition gains control over a significant portion of global crude oil output, it poses a challenge to the United States’ dominance. To maintain its influence, the United States must prioritize building strong alliances and adapting to the emerging multipolar world order.
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