Florida Senator Marco Rubio has raised concerns about the expanding global economic alliance known as BRICS, emphasizing potential threats to the SWIFT payment system and the United States' ability to utilize the dollar for sanctions. Rubio warns that the recent inclusion of new members in BRICS, including Saudi Arabia, the United Arab Emirates, Ethiopia, Egypt, and Iran, poses risks to the American-led financial system.
BRICS Expansion Raises Alarms
Rubio notes that the recent addition of key nations to BRICS doubles the trade group's size, making it a more attractive alternative to the traditional American and European-led financial structures. He expresses concern that this trend could make it increasingly challenging for the United States to effectively use sanctions to prevent international violence and oppression.
China's Influence and Support for Russia's Military Campaign
The Senator accuses China of leveraging BRICS to support Russia's military actions in Ukraine. According to Rubio, Beijing's effective control over BRICS enables its members to pool foreign currency reserves and provide substantial loans to developing nations, potentially undermining Western influence.
Rubio states, "These measures are allowing China to bankroll Russia’s campaign of death and destruction in Ukraine, despite punishing sanctions on Moscow."
BRICS Expansion and Global Power Dynamics
BRICS, originally composed of Brazil, Russia, India, China, and South Africa, expanded its membership last year to include Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates. This move was seen as a challenge to the established US-led world order.
However, Argentina withdrew from joining BRICS at the last moment, leaving the alliance with five new members. Rubio's warning reflects growing concerns about the economic and geopolitical implications of BRICS' expansion and its potential impact on the influence wielded by the United States and its traditional allies.