🚨 UAE Officially Stops Using Dollar For Oil Trades🚨

Witness December 01, 2023

🚨UAE Shifts Away from Dollar in Oil Trades🚨

In a noteworthy development, the United Arab Emirates (UAE) has chosen to break away from the traditional use of the US dollar in its oil trade transactions, reshaping the global financial landscape.

This strategic shift is in harmony with the collective goals of the BRICS economic alliance, where the UAE has recently found its place.

The transition to local currencies for oil transactions signifies a departure from the well-established dominance of the US dollar in the global oil market.

This shift reflects a growing trend toward de-dollarization among participating nations, challenging the conventional supremacy of the US dollar in global trade.

The UAE's deliberate choice to prioritize local currencies in new oil agreements is more than a mere policy adjustment; it represents a calculated move in the intricate dynamics of global economics.

By aligning itself with BRICS nations, the UAE not only diversifies its economic alliances but also strengthens its position as a significant player in the global oil market.

- source : cryptopolitan

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