'Removing' the USD, BRICS has accelerated: China and Russia can 'powerfully influence' the G7, forcing the US to act. After BRICS saw Russia receive new sanctions, it seems the US is considering imposing sanctions on China.
A report from the Financial Times noted that China's support for Moscow is a “long-term threat” to the security of the G7.
Following sanctions on Russia in recent weeks, another BRICS country could become a new target: China, according to Watcher.guru. It is known that the West is probably debating sanctions against China in the context of the country's cooperation with Moscow and BRICS promoting de-dollarization efforts.
Russia responded to increased sanctions from the US Treasury Department by stepping up its move to scrap the dollar this week. Specifically, the Moscow Stock Exchange has temporarily suspended trading in USD and Euro.
The BRICS alliance has not been shy about its stance on the US and the USD. They have been trying to increase the use of local currencies and recently signed a landmark trade deal to boost those currencies.
The G7 group is said to be concerned about China "supporting" Russia in the context of the country's conflict with Ukraine. This topic will likely be discussed during the G7 Summit in Puglia (Italy).
While the world currency war is fierce, digital currency BTC is the focus of the 2024 US presidential election page.
