The de-dollarization is underway, some analysts said after the BRICS group of major emerging economies invited earlier this year several other countries to join, including some of the biggest oil exporters in the Middle East. Saudi Arabia, the United Arab Emirates (UAE), and Iran joining an expanded BRICS (Brazil, Russia, India, China, and South Africa) group would bring together some of the biggest oil exporters and the world’s largest and third-largest crude oil importers, China and India, respectively. While…
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