Expanded BRICS summit in New Delhi calls for de-dollarization and condemns unilateral sanctions

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Expanded BRICS summit in New Delhi calls for de-dollarization and condemns unilateral sanctions

⚡ Markets: The push for local currency settlement is a long-term structural headwind for US dollar dominance. Positive for gold and BRICS-bloc currencies as a diversification theme.USDCNYINRGold

Leaders of the expanded BRICS bloc issued a joint declaration calling for "maximum restraint" in the Middle East, condemning unilateral sanctions, and promoting the use of national currencies for trade to reduce reliance on the US dollar. The summit also saw a bilateral meeting between China's Xi Jinping and India's Narendra Modi, signaling a thaw in relations.

West MSM 11Google Non-West 17Regional 34Financial press 4Non-West State 38West Right 1Non-West Ind. 3Google West 128 countries

109 sources across the spectrum

Google Non-WestGoogle News (South Africa) — U.S. watches as Russia, China, Iran, Saudi Arabia and Africa’s BRICS powers rally in India to bypass sanctions and break the US dollar’s hold over global finance

West MSMNYT World — As Oil Prices Rise, BRICS Leaders Have What U.S. Doesn’t: Iran at the Table

West MSMLa Repubblica — I Brics avvertono gli Stati Uniti: “Stop a dazi e bombardamenti”

RegionalFolha de S.Paulo — Brics condena tarifas unilaterais e avança no uso de moedas locais

RegionalEstadão — No BRICS, Xi Jinping critica tarifas comerciais ‘arbitrárias’ e pede rejeição a protecionismo

RegionalTimes of India — Brics Summit: India and UAE discuss boost to IMEC, energy infra

RegionalTimes of India — Brics calls for uninterrupted energy flow, infra protection

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