With the BRICS bloc actively discussing expansion, could Syria join the collective and adopt the BRICS currency? Currently made up of Brazil, Russia, India, China, and South Africa, various countries have submitted membership requirements to add to the ranks. of the BRICS nations. Others, meanwhile, are publicly supporting the mission to deteriorate the US Dollar through de-dollarization.
Will Syria Join And Adopt BRICS Currency?
Syria is one of the multiple Middle Eastern nations that have shown interest in joining BRICS or BRICS+. President Bashar Assad of Syria has shared on multiple occasions the idea of BRICS aiding in ditching the US Dollar. President Assad believes that the BRICS and BRICS+ can lead the de-dollarization efforts.
The President adds that the Chinese Yuan can serve as a currency replacement for the US dollar in global transactions. Argentina is already on the track to a similar end, with its decision to pay for imports with the Chinese Yuan. Argentina is one of multiple South American countries, not including Brazil, with an interest in BRICS.
With a mutual interest in adopting the Chinese Yuan as a common currency, Syria is definitely on the de-dollarization boat, supporting BRICS’ mission. Hence, it may be a contender to join BRICS+ if it’s discussed at the upcoming BRICS Summit in August.