Sio kila nchi inaendana na ajenda ya BRICS ya kubadilisha dola ya Marekani na sarafu za ndani kwa mafuta. Kulipa malipo ya mafuta kwa fedha za ndani kunaleta hatari kubwa ambayo inaweza kuathiri hifadhi ya fedha za kigeni za nchi. Manunuzi ya mafuta yamekuwa yakilipwa kihistoria kwa dola ya Marekani huku sarafu hiyo ikidhibiti mtiririko wa kimataifa wa sekta hiyo.
Hata Saudi Arabia, ambayo ilitangaza kwamba itakubali fedha za ndani kwa ajili ya malipo ya mafuta imekuwa ikipokea tu dola ya Marekani kwa miamala. Ni biashara chache tu ambazo zimetatuliwa kwa sarafu za ndani huku nyingi zikiungwa mkono na dola ya Kimarekani. BRICS inapata ugumu kushawishi nchi zingine kutumia sarafu za ndani kwa biashara ya mafuta badala ya dola ya Marekani.
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Not every country is falling in line with the BRICS agenda of replacing the US dollar with local currencies for oil. Settling oil payments in local currency poses a significant risk that can affect a country’s foreign exchange reserves. Oil settlements have been historically paid in the US dollar as the currency controls the global flow of the sector.
Even Saudi Arabia, which announced that it would accept local currencies for oil payments has only been receiving the US dollar for transactions. Only a few trades have been settled in local currencies while the majority of them are backed by the greenback. BRICS is finding it hard to convince other countries to use local currencies for oil trade and not the US dollar.
Hata Saudi Arabia, ambayo ilitangaza kwamba itakubali fedha za ndani kwa ajili ya malipo ya mafuta imekuwa ikipokea tu dola ya Marekani kwa miamala. Ni biashara chache tu ambazo zimetatuliwa kwa sarafu za ndani huku nyingi zikiungwa mkono na dola ya Kimarekani. BRICS inapata ugumu kushawishi nchi zingine kutumia sarafu za ndani kwa biashara ya mafuta badala ya dola ya Marekani.
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Not every country is falling in line with the BRICS agenda of replacing the US dollar with local currencies for oil. Settling oil payments in local currency poses a significant risk that can affect a country’s foreign exchange reserves. Oil settlements have been historically paid in the US dollar as the currency controls the global flow of the sector.
Even Saudi Arabia, which announced that it would accept local currencies for oil payments has only been receiving the US dollar for transactions. Only a few trades have been settled in local currencies while the majority of them are backed by the greenback. BRICS is finding it hard to convince other countries to use local currencies for oil trade and not the US dollar.