The global geopolitical and economic scenario is facing new dynamics with the expansion of the economic alliance known as BRICS. According to Florida Senator Marco Rubio, this development could threaten the predominance of the SWIFT payments system and the United States’ ability to use the dollar as an instrument of international sanctions.
In a recent article published on RealClearWorld, Rubio highlights that the inclusion of new members such as Saudi Arabia, the United Arab Emirates, Ethiopia, Egypt and Iran, the latter described as a great danger to US personnel in the Middle East and the main sponsor of terrorism international level, significantly expands the influence of the BRICS.
This expansion of the trading group, according to him, represents a growing challenge to the Western-led financial system. In a recent move, the BRICS decided to include Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates, in an attempt to reshape the world order. However, Argentina, under new president Javier Milei, backed out at the last minute, leaving the group with five new members.
“Starting on New Year’s Day, Saudi Arabia, the United Arab Emirates, Ethiopia, Egypt and Iran – the greatest danger to US personnel in the Middle East and the greatest sponsor of international terrorism – have swelled the ranks of BRICS. This doubles the size of the commercial group, increasing its attractiveness as an alternative to the US and European-led financial system. If current trends continue, it will become increasingly difficult for the United States to prevent international violence and oppression through sanctions.”
The senator accuses China of using the BRICS to support Russia’s military campaign in Ukraine, saying that the bloc’s members, now heavily influenced by Beijing, are accumulating foreign currency reserves and offering loans to developing nations, positioning them against the interests of the US and its Western allies.
“Now effectively controlled by Beijing, BRICS members pool foreign currency reserves and lend billions of dollars in easy money to pit developing nations against the United States and other Western countries. These measures are allowing China to finance Russia’s campaign of death and destruction in Ukraine, despite punishing sanctions against Moscow.”
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