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Petrodollar be warned: Three Persian Gulf energy powers just joined BRICS
The BRICS revealed its geopolitical priorities when it added three Persian Gulf states to its once exclusive roster of members. Iran, Saudi Arabia, and the UAE have been strategically included to put an end to the petrodollar.
MK Bhadrakumar
Photo Credit: The Cradle
The leitmotif of the BRICS Summit meeting in Johannesburg on 22-24 August has been, expectedly, the expansion of the group to include six more member states. While this itself is a stand-alone event, in reality, it dovetails nicely into the group’s core agenda of global multipolarity and the creation of a fairer international trade and finance architecture that is crucial to economic growth.
The Johannesburg II Declaration adopted at the end of the summit modestly mentions toward the very end of the document that the addition of six more members stemmed out of a “consensus on the guiding principles, standards, criteria and procedures of the BRICS expansion process.”
However, the list of six countries – Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE – also gives away some other important clues. For starters, this BRICS consensus is anchored in a profound Russian-Chinese understanding. Also, the BRICS is declaring itself to be a non-western grouping. There is no question that BRICS ascribes the highest importance to Africa and the Persian Gulf region, with Egypt and Ethiopia, the two ancient civilization-states, as the “lynchpin.”
Russian Foreign Minister Sergey Lavrov later disclosed that the “consensus” was reached through some “lively discussions” and some serious considerations:
Click here for reuse options!“The weight, prominence and importance of the candidates and their international standing were the primary factors for us. It is our shared view that we must recruit like-minded countries into our ranks that believe in a multipolar world order and the need for more democracy and justice in international relations. We need those who champion a bigger role for the Global South in global governance. Six countries whose accession was announced today fully meet these criteria.”…..more here
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