Company Logo

Home industry banking-and-finance to end the US Dollar dominance, Saudi Arabia has joined BRICS

To end the US Dollar dominance, Saudi Arabia has joined BRICS

Banking And Finance

 Saudi Arabia has joined BRICS

Saudi Arabia officially announced its membership in the BRICS alliance, announcing its participation on national television, as one of six invited to the 2023 summit.

Officially announcing its membership in the BRICS alliance, Saudi Arabia made the announcement on national television across the nation. The country was, in fact, one of the six invited to the summit in 2023. It has now been affirmed that it will be one of the five countries to join the union beginning in 2024.

The BRICS economic bloc was always intended to enter a new phase of development in 2024. As its newest member, Saudi Arabia joins Ethiopia, Iran, Egypt, and the United Arab Emirates (UAE).

Unquestionably, the BRICS bloc's expansion over the past 12 months has been a significant geopolitical development. In fact, within the past year, the economic alliance has become more and more relevant. This is about to happen as it formally expands its membership.

The official acceptance took place at the beginning of the New Year, despite the fact that the nation was one of six invited in August. Prince Faisal bin Farhan, the foreign minister of Saudi Arabia, also hailed the action as a positive and crucial step toward expanding business ties.

Argentina declined BRICS summit invitation in 2023, but Riyhad's economic influence may contribute to the bloc's goal of reducing US dollar dominance outside the bloc.

The nation is well-known for being an ally of the US. Its readiness to become a member of the alliance indicates that it may support the bloc's de-dollarization initiatives.

Business News

Recommended News

Most Featured Companies

ciobulletin-aatrix software.jpg ciobulletin-abbey research.jpg ciobulletin-anchin.jpg ciobulletin-croow.jpg ciobulletin-keystone employment group.jpg ciobulletin-opticwise.jpg ciobulletin-outstaffer.jpg ciobulletin-spotzer digital.jpg ciobulletin-virgin incentives.jpg ciobulletin-wool & water.jpg ciobulletin-archergrey.jpg ciobulletin-canon business process services.jpg ciobulletin-cellwine.jpg ciobulletin-digital commerce bank.jpg ciobulletin-epic golf club.jpg ciobulletin-frannexus.jpg ciobulletin-growth institute.jpg ciobulletin-implantica.jpg ciobulletin-kraftpal technologies.jpg ciobulletin-national retail solutions.jpg ciobulletin-pura.jpg ciobulletin-segra.jpg ciobulletin-the keith corporation.jpg ciobulletin-vivolor therapeutics inc.jpg ciobulletin-cox.jpg ciobulletin-lanner.jpg ciobulletin-neuro42.jpg ciobulletin-Susan Semmelmann Interiors.jpg ciobulletin-alpine distilling.jpg ciobulletin-association of black tax professionals.jpg ciobulletin-c2ro.jpg ciobulletin-envirotech vehicles inc.jpg ciobulletin-leafhouse financial.jpg ciobulletin-stormforge.jpg ciobulletin-tedco.jpg ciobulletin-transigma.jpg ciobulletin-retrain ai.jpg
ciobulletin-abacus semiconductor corporation.jpg ciobulletin-agape treatment center.jpg ciobulletin-cloud4wi.jpg ciobulletin-exponential ai.jpg ciobulletin-lexrock ai.jpg ciobulletin-otava.jpg ciobulletin-resecurity.jpg ciobulletin-suisse bank.jpg ciobulletin-wise digital partners.jpg ciobulletin-appranix.jpg ciobulletin-autoreimbursement.jpg ciobulletin-castle connolly.jpg ciobulletin-cgs.jpg ciobulletin-dth expeditors.jpg ciobulletin-form.jpg ciobulletin-geniova.jpg ciobulletin-hot spring it.jpg ciobulletin-kirkman.jpg ciobulletin-matrix applications.jpg ciobulletin-power hero.jpg ciobulletin-rittenhouse.jpg ciobulletin-stt logistics group.jpg ciobulletin-upstream works.jpg ciobulletin-x2engine.jpg ciobulletin-kastle.jpg ciobulletin-logix.jpg ciobulletin-preclinical safety (PCS) consultants ltd.jpg ciobulletin-xcastlabs.jpg ciobulletin-american battery solutions inc.jpg ciobulletin-book4time.jpg ciobulletin-d&l education solutions.jpg ciobulletin-good good natural sweeteners llc.jpg ciobulletin-sigmetrix.jpg ciobulletin-syncari.jpg ciobulletin-tier44 technologies.jpg ciobulletin-xaana.jpg

Latest Magazines

© 2024 CIO Bulletin Inc. All rights reserved.