In August, the UAE was one the latest nations to be admitted to the bloc, including Ethiopia, Iran, Saudi Arabia, Egypt and Argentina, (though Argentina is set to leave BRICS after their newest president announced they would forsake the BRICS partnership).
The UAE will officially become an acting member on the first of 2024.
Watcher.Guru reported: ‘the Financial Times reports that a BRICS member country, the UAE, is seeking new oil deals that could have massive implications on the US dollar.’
Also, ‘the report notes that the UAE “planned to use meetings about the COP28 summit it is hosting later this week to pitch oil and gas deals to foreign governments,” according to sources. Additionally, it stated that the country is set to discuss potential deals with 15 countries, including China, Russia, and Egypt.’
SEE: De-Dollarization: India Dumps Dollar And Buys Oil From UAE In Rupees
Cryptopolitan also highlights just how significant this move is:
This change could potentially reshuffle the cards in the international oil trade, impacting the dollar’s stronghold and introducing a new era of currency dynamics in oil transactions.
The UAE’s proactive search for new oil trading partners is a testament to its agility and foresight in navigating the evolving economic landscape. The significance of this move cannot be overstated.
It’s not just a matter of switching currencies; it’s about altering the very fabric of international oil trade. The potential ripple effects on the US dollar could be substantial, marking a shift in the global economic power balance.
This shift, driven by the broader ambitions of the BRICS alliance, could have far-reaching implications for the dominance of the US dollar in international trade.
On top of this, the UAE has also announced that they will be implementing an additional voluntary cut of 163 thousand barrels oil per day, beginning on January 1st, 2024, and will last until the end of March, part of a collaboration with other OPEC+ nations.
Gulf News wrote: ‘Therefore, the UAE’s production will be 2,912 thousand barrels per day until the end of March 2024. Afterwards, in order to support market stability, these additional cut volumes will be returned gradually subject to market conditions. This voluntary cut is in addition to the voluntary cut of 144 thousand barrels per day previously announced by the United Arab Emirates in April 2023, which extends until the end of December 2024.’
In April, The WinePress reported on OPEC’s surprise production cut announcement that formally lasts until the end of this year.
OPEC has decided on a new production for 2024. Reuters wrote earlier this week: ‘OPEC+ oil producers on Thursday agreed to voluntary output cuts approaching 2 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its current voluntary cut, delegates told Reuters.’
Lena Petrova, CPA, provides more insights into this latest move the UAE:
AUTHOR COMMENTARY
Turn on the television, open the news wires, go pick up a paper near you: did you see this reported in American media? Why, of course not.
The media is going into overdrive to deceive and distract the people from not realizing just how bad the economy is, and how we are on a knife’s edge of total collapse. This is why they keep touting “Bidenonmics,” and reporting cooked numbers and select data, and shoehorning people like Donald Trump to keep the masses both distracted and providing something for them to hope in.
Furthermore, this news is critical because the United States’ strategic oil reserves are basically emptied out – we don’t have any; and now you have all these nations, who are not only cutting production, they are also undercutting and weakening the preeminence of the petrodollar.
The systematic destruction of the Unites States is so obviously designed and deliberate, when looking at what Biden is doing (or I should say not doing), and what all the other nations are doing. The destruction is planned and deliberate.
The dollar’s days are numbered, and when it goes, and it will, the death and chaos in this country (or whatever remains of it) will be tremendous.
[21] He poureth contempt upon princes, and weakeneth the strength of the mighty. [23] He increaseth the nations, and destroyeth them: he enlargeth the nations, and straiteneth them again. Job 12:21, 23
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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Don’t blame them a bit, they want money that’s worth what it says it is… zee dohlar is ka-put
Yes it is ka-put and they can’t ka-PUT it back together!
I don’t worry for myself, but I worry for my unsaved children, that will most likely be left behind and will experience the wrath that is coming upon all the earth. These corrupt, evil politicians think they are on their way to a better world, but little do they know that they will reap what they sow and will experience ALL of what they are dishing out to us and will curse God. So be it.
Please pray for my unsaved children and grandchildren that they will be looking forward to the Rapture, just as we are. Blessings all.
I pray the Lord gets through to your children, Char.
I know what you’re feeling. My mom is unsaved, and worse: mom is a pastor in the pentecostal cult! I’ve done what I could and I’ve said what I could say, I am out of moves, God is going to have to put my mom through some hard, HARD times if there’s going to be even a sliver of a chance of repentance for my mom!
Andrew, how do you know she’s not saved? Is she not practicing what she preaches? I have known Pentecostals and they sure seemed saved to me and followed the Lord better than me.
Thank you for your prayers, Andrew. They are much appreciated. Will pray for your Mom also. Hope to see you and all the believers soon in the air!