BRICS: Russia & South Africa Ditch US Dollar in $265M Oil Deal
In a continuation of the bloc’s overarching de-dollarization efforts, BRICS members Russia and South Africa had ditched the US Dollar in a landmark $265 oil deal. Indeed, reports have stated that the former tabbed Russian bank, Gazprombank as the preferred investor for the massive gas refinery contract. Although the specific currency utilized in the agreement has not been specified, the bank’s placement under US sanctions denotes its likelihood in local currencies. Moreover, the alliance has sought greater
