Overview

Click to expand overview
According to a new report by Reuters, two anonymous sources familiar with the matter say that Saudi Arabia – which was invited to BRICS in 2025 – is holding off on Specifically, the BRICS bloc is set to see both China and Saudi Arabia drive the global end to the US dollar. Indeed, the two nations have agreed to a landmark currency In a statement made on the country’s state TV, Saudi Arabia has officially announced its entry into the BRICS alliance. Indeed, the nation was one of six countries Saudi Arabia has held off formally joining the BRICS bloc of nations despite attending a meeting in Brazil last week, two sources said, finessing an issue that could upset Brics members are working towards deepening inter-trade using local currencies instead of the US dollar, including buying and selling energy sources without

Saudi Arabia Officially Joins BRICS: A Shift Away From US Dollar Dominance?

Saudi Arabia has officially announced its entry into the BRICS alliance, a move signaling a potential shift in the global economic landscape and challenging the dominance of the US dollar. In a statement made on the country’s state TV, the announcement confirms Saudi Arabia as one of six countries invited to join the bloc.

BRICS Expansion: China and Saudi Arabia at the Forefront

The BRICS bloc is set to see both China and Saudi Arabia drive the global end to the US dollar. Indeed, the two nations have agreed to a landmark currency agreement, paving the way for increased trade in their respective currencies. This strategic alignment is a key factor in the ongoing de-dollarization efforts.

Local Currencies and Energy Trade: Bypassing the US Dollar

Brics members are working towards deepening inter-trade using local currencies instead of the US dollar, including buying and selling energy sources without relying on the traditional financial system. This initiative aims to reduce dependence on the US dollar and foster greater economic autonomy among member nations.

Saudi Arabia\'s BRICS Entry: A Strategic Decision

While earlier reports suggested hesitation, with Reuters reporting that two anonymous sources familiar with the matter said that Saudi Arabia – which was invited to BRICS in 2025 – was holding off, the official announcement confirms Saudi Arabia’s commitment to the alliance. Previously, it was reported that Saudi Arabia has held off formally joining the BRICS bloc of nations despite attending a meeting in Brazil last week, two sources said, finessing an issue that could upset. This strategic move aligns with Saudi Arabia\'s broader economic diversification plans and its desire to play a more prominent role in the global economy.

Top Sources

Related Articles