BRICS: Why Saudi Arabia is the Greatest Threat to US Hegemony

Joshua Ramos
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Source: CNBC

With the highly-anticipated BRICS summit approaching in just a few weeks, expansion seems to be a foregone conclusion. Moreover, as the bloc is set to continue embracing de-dollarization and competing with the West, the BRICS inclusion of Saudi Arabia presents the greatest threat to US hegemony.

The summit is likely to set expansionary guidelines to expand the economic alliance. Subsequently, Saudi Arabia is likely to join Brazil, Russia, India, China, and South Africa. Moreover, that inclusion could present a benefit to the bloc that it has not yet seen.

Also Read: Saudi Arabia Likely to Join BRICS Alliance in August Summit

BRICS Inclusion of Saudi Arabia Could be Groundbreaking

For the past several months, the idea of expanding the BRICS bloc has dominated the discourse. Alongside talk of a currency alternative, the bloc has set its sights on growth ahead of its annual summit. However, the inclusion of one country could provide an unheard-of benefit.

Specifically, Saudi Arabia’s inclusion in the BRICS could become the greatest threat to US hegemony. The country has already applied for entry into the BRICS New Development Bank. Subsequently, its work to fund the alliance has been an incredibly valuable proposition. However, for it to actively join BRICS+, the geopolitical landscape could be forever altered.

There are more than 20 countries being considered for expansion, with almost 70 being invited to the summit. However, Saudi Arabia’s inclusion would bring brand new trade implications to the bloc’s quest for multipolarity. Providing a massive hit to the overall US dollar presence internationally.

Also Read: Saudi Arabia Signs $5.6 Billion Deal with Chinese EV Company

If Saudi Arabia were to join the BRICS alliance, the world would undoubtedly be different. That difference would be significant because one of the largest countries in natural resource trading would have moved away from the US dollar. Whether operations are in the yuan or a gold-backed BRICS currency, that shift in capital usage would work to diminish the US dollar even more.

There is the undeniable expectation that the expansion of the BRICS is a matter of when, and not if. However, it is almost a certainty that Suadi Arbai will be included in this decision. Subsequently, it would provide the bloc with another global superpower. Catapulting its influence in the global south, amid developing countries seeking the same multipolar world.