Historic Oil Deal with UAE Signals De-dollarization Efforts Following BRICS Expansion

 

Following the historic BRICS expansion, India has taken a huge step away from the US dollar in a move that underscores the country's growing assertiveness on the global economic scene by reaching a historic oil agreement with the United Arab Emirates (UAE). This game-changing decision not only highlights the changing dynamics of trade and geopolitics, but it also indicates India's willingness to creating strong economic relationships outside old rules.

Also, the UAE joined Saudi Arabia, Iran, Argentina, Ethiopia, and Egypt as the newest members of the expanded alliance. The timing of this oil transaction highlights the BRICS countries' quick diplomatic and economic manoeuvres to consolidate their combined power in global affairs.

This oil deal is only one illustration of how the BRICS nations are actively creating the contours of the future global economic landscape. BRICS is gradually weakening the hegemony of conventional economic powers and giving a voice to economies that have been traditionally marginalised by creating a space for commerce that is not primarily tied to the US currency.     

In addition, India's strategic decision to negotiate this historic oil transaction with the UAE sends a clear message: the world order is changing, and governments are taking meaningful steps to realign their economic partnerships to reflect their shifting roles on the global arena. Deals like this are likely to become more prevalent as the BRICS continue to expand, highlighting the transition towards a multipolar world in which economic decisions are impacted by a varied variety of voices and interests.