In its South Africa summit, BRICS invited six new members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE. The bloc now represents 37% of global GDP (PPP), over 40% of global oil production, and 1/3rd of global gas production, challenging the US petrodollar system. Ben Norton analyzes the importance of the meeting.

VIDEO: https://youtube.com/watch?v=1SIfrWkQXeE

BRICS debates mission at summit: Challenge West's G7 or be neutral?: https://youtube.com/watch?v=wQN7Uh_XMbA

How a US debt trap in Argentina is fueling inflation, dollarization, far right: https://youtube.com/watch?v=1BRx90DhYWM

US pressures Saudi Arabia to sell oil in dollars, not Chinese yuan: https://geopoliticaleconomy.com/2023/08/10/us-saudi-arabia-sell-oil-dollars-chinese-yuan

Topics:
0:00 Introduction
3:21 Petrodollar under threat
7:51 BRICS+ makes up 40% of global oil production
9:00 BRICS+ makes up 1/3rd of global gas production
10:48 BRICS' massive economic weight
12:09 Will Argentina join?
18:29 De-dollarization
20:46 Saudi-Iran peace
23:35 BRICS vs. G7
30:17 Xi's speech
35:18 Putin's speech
41:06 Lula's speech
42:17 Lula calls for new BRICS currency
44:36 Lula warns of "green neocolonialism"
45:26 Africa-Latin America cooperation
47:42 Ramaphosa's speech
52:50 Venezuela
54:34 Cuba
55:37 Conclusion

BRICS expanding into economic powerhouse: Petrodollar under threat

Western sanctions are backfiring: The EU is now importing Russian liquified natural gas at record levels, and China has made high-tech breakthroughs despite US export restrictions. Ben Norton discusses how this is strengthening their economic sovereignty while blowing back on Europe.

VIDEO: https://youtube.com/watch?v=U5fycw5vkjo

US now world's top LNG exporter, as Europe boycotts cheaper Russian gas: https://geopoliticaleconomy.com/2023/01/04/us-lng-exporter-europe-russia-gas

Europe pays more for banned Russian oil, resold by India - as EU wages fall: https://geopoliticaleconomy.com/2023/04/30/europe-russia-oil-india-wages

Journalist Seymour Hersh says US blew up Nord Stream pipelines connecting Russia to Germany: https://geopoliticaleconomy.com/2023/02/08/us-nord-stream-pipelines-seymour-hersh

Topics
0:00 Introduction: US economic warfare
3:49 Western sanctions on Russia backfire
20:47 China resists US tech sanctions
30:48 Outro: Sanctions are failing

Western sanctions failing: EU imports more Russian gas, China beats US tech war

Roofage

Gastrojejunostomy

Fiftieths

Rasion

Arank

Spinier

Mesokurtic

Pledgeless

Corpora

Geopolitical Economy Report is an independent news outlet that provides original journalism and analysis to understand the changing world.

Western sanctions failing: EU imports more Russian gas, China beats US tech war

Geopolitical Economy Report

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