"Iraq’s accession to BRICS will break Washington’s hegemony over the dollar, 29 AUGUST

 BRICS has expanded to include Iran, Saudi Arabia, the United Arab Emirates (UAE), Egypt, Ethiopia and Argentina.

Following the 15th annual BRICS summit in Johannesburg, South Africa last week, the bloc of five major emerging economies – Brazil, Russia, India, China and South Africa – decided to admit the additional 6 new members, effective January 1, 2024.

The inclusion of Saudi Arabia, Iran and UAE in BRICS also means the oil powers are drifting away from the United States’ petrol dollar agreement supremacy, significantly detoriate USD status as world reserve currency.

The only US financial weapon remaining, IQD, this recent development may influence IQD reinstatement sooner as US Treasury already urging to accomplish since Dec 2022.

BY DINAR IRAQ & DONG VIETNAM

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Al-Fateh: Iraq’s accession to BRICS will break Washington’s hegemony over the dollar

8-28-2023

Al-Fateh - Iraqs accession to BRICS will break Washingtons hegemony over the dollarInformation / special..

Today, Monday, the leader of the Al-Fateh Alliance, Ali Al-Zubaidi, stressed the necessity of liberating himself from the restrictions of the US treasury and entering the “global BRICS” group, while stressing that the government will not control the rise in the exchange rate of the dollar without exiting the power of the US treasury.

Al-Zubaidi said, in an interview with Al-Maalouma Agency, that “Iraq’s economic situation requires the government to join the global Brexit group,” noting that “getting rid of the restrictions imposed by the United States of America on Iraq lies in making the decision to enter the BRICS group.”

And he continued, “Washington will remain in control of Iraq with the card of raising the exchange rate of the dollar to pass its own interests,” calling on the government to “the need to liberate itself from the US treasury and enter the BRICS group.”

The leader of the Al-Fatah coalition concluded his speech, saying: “The BRICS group, after the accession of more than twenty countries, most notably the eastern ones, will compete with the dollar and will become the first currency in the coming years, given the program and the numbers that the major countries are working on now,” adding that “the government will not control the high price of Exchange the dollar without leaving the power of the US treasury.

The BRICS group has become one of the most important global economic organizations, given the growth figures achieved by the countries of this group over the years, which made it a source of interest for many other countries, which no longer wanted to join the group after the number of countries reached 20 countries.

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