The BRICS hit back: Trump’s old tricks meet new world
US President Trump has rattled Washington's ties with New Delhi to an unexpected degree. Countries, including, India were prepared for rough diplomatic weather after Trump won his second term, but did not anticipate the kind of onslaught he has unleashed on the global system and diplomatic norms.
Trump’s latest attack on India and the BRICS countries explains this underlying dynamic. The BRICS aspire to play a greater political, economic and financial role in global affairs. This aspiration is based on shifts of economic and concomitant political and financial power towards the so-called emerging powers or middle-income countries.
BRICS countries have already begun to use their national currencies in trading with each other as much as possible. The use of draconian financial sanctions on Russia by the West has accelerated this process.
Today, almost all trade operations between Russia and China are conducted in rubles and yuan. India too is encouraging the use of its national currency in payment transactions with select countries. A significant portion of the trade between India and Russia is now settled using a rupee-ruble mechanism.
Washington cannot use secondary sanctions to prevent countries, including India,........
© RT.com
