BRICS members China and Iran are sticking through thick and thin after the Islamic Republic launched missile attacks on Israel. China came out in full support of Iran and is strengthening its diplomatic relations with the Islamic nation. Not just China, BRICS member Russia is also hailing Iran and supporting the regime after the drone attacks on Saturday.
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China is the largest buyer of Iranian oil and the US had warned the Communist nation not to procure crude oil due to the economic sanctions on the Islamic Republic. However, BRICS member China has now vowed to continue buying crude oil from Iran despite the US warnings.
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BRICS: US Warning To China & Iran Fall on Deaf Ears
Russia’s Vladimir Putin, China’s Xi Jinping, and Iran’s Ali Khamenei seem to not give two hoots to the Biden administration’s warning of not procuring crude oil from Iran. The three BRICS countries have come to a mutual understanding to keep the US dollar out of crude oil transactions.
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“China will unswervingly develop friendly cooperation with Iran no matter how international and regional situations change,” Jinping said. The main customer for Iran’s oil is BRICS member China and the purchasing of crude oil will only increase hereafter.
Just a year ago, China helped Iran broker a deal with Saudi Arabia to ease diplomatic deadlocks between the two. The two Middle Eastern nations sat on the table for discussions ushering in a change in how the region operates. Now that Iran is in BRICS, and Saudi Arabia could soon join, the two Middle Eastern countries might get along.
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If BRICS becomes stronger and controls the majority of the world’s oil, then the US dollar will be in jeopardy. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade.