March 2022 Flashback: US Hegemony Threatened As Saudis, UAE, India Ignore Threats of Sanctions, Turn to Russia/China

Saudi Arabia, the UAE, and India appear to be distancing from western powers as they expand their relations with Russia and China

....this development by Aramco is parallel and connected with the Saudi’s recent consideration of breaking away from the petrodollar standard and accepting the Yuan. In the face of shifting allegiances, and defiance of US expectations, the future of geopolitical relations is uncertain, although the trend paints a picture of the US losing allies as Russia and China gain momentum.

....Conclusion

The AIIB and BRICS will likely play a large role in the new economic world order discussed in my last publication from a week ago. The AIIB already has half of NATO signed on, and is gaining traction with the Silk Road Belt and Road initiative. China is this year’s BRICS summit leader, for the 14th summit. BRICS members South Africa and India have remained relatively neutral, although in this author’s opinion they are looking to cozy up with the Russia/China axis and its emerging economic network as they realize that their neutrality makes them out to be an apparent enemy of the US and the NATO alliance — judging by the threats of sanctions by the latter. The same goes for the gulf states, although they are not BRICS.

...India, Saudi Arabia, UAE, South Africa, and others yet to be as entangled, could simply be biding their time as they seek a smooth transition. While India and the Gulf have been scolded and threatened by the US for continuing to trade with Russia, many countries on the peripheral, such as Germany, continue importing Russian oil.

As Saudi Arabia is seeking to abandon the Petrodollar, India is seeking to phase out the dollar as a reserve currency in trade with Russia (and likely its trade partners such as China in the future), the dollar’s reserve currency status faces a great threat. Saudi Arabia’s departure from the standard it was instrumental in creating could embolden other countries to follow suit. Likewise, as multiple countries bolster relations with Russia and China(Or allies of theirs, such as the UAE meeting with Syrian president Assad), and defy the US’s wishes and implicit or direct threats, this could embolden others to do the same in the future-dismantling US hegemony. We could be witnessing the fall of the US empire, and its reserve currency, coincided by the rise of an emerging power structure and world economic system in which BRICS nations rise as the new dominant power of the globe.

🔗SOURCE ➡️ TheMcgwire

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