Threatening both the USD and the SWIFT payment system, could BRICS create a 'financial storm'?

BRICS expansion not only adds more members but also represents a change in the global balance of power. This alliance is challenging the dollar's long-standing dominance in international transactions. This caused a financial storm, especially for the US and the SWIFT payment system. The growing influence of BRICS is seen as poised to reshape global financial dynamics.

The move to make cross-border payments in local currencies instead of USD could significantly reduce the volume of global SWIFT transactions.

Egypt holds control of the Suez Canal and possesses abundant natural gas reserves, adding an important strategic dimension to BRICS+.

Ethiopia, despite its economic challenges, makes a significant contribution thanks to its abundant water resources and agricultural output. Iran is a country that plays an important role in global energy policy thanks to its oil and natural gas reserves - thereby helping to strengthen BRICS' position in the global energy market.

Saudi Arabia and the United Arab Emirates are both major oil producers, which not only brings economic strength but also signifies a shift in traditional alliances and shows a trend toward autonomy. , away from Western influence.

BRICS+ currently accounts for a significant portion of global population, land area, oil output and GDP.

This is a sign of the desire to create a polycentric world order, away from a unipolar world dominated by Western powers.

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