BRICS Surpasses the US in Gas Trade to Europe
The BRICS alliance has surpassed the US in gas trade to Europe for the first time in almost two years. BRICS member Russia is the top supplier of LNG gas to Europe and outperformed the US despite facing sanctions. The spike comes despite Europe trying to limit its dependency on Russian oil but several countries in the eastern European region rely heavily on imports from the country. This makes Russia the top supplier of LNG gas supplier to Europe elbowing the US in global trade deals. Also Read: BRICS: HSBC Predicts How Long US Dollar Will Remain Global Currency JUST IN: Russia surpassed the United States in supplying gas to Europe in May, despite efforts to reduce reliance on Russian gas. pic.twitter.com/IiMVp0lj6z — BRICS News (@BRICSinfo) June 16, 2024 The development comes when BRICS is looking to topple the US dollar as the world’s reserve currency. The bloc aims to control the global oil and gas sector to bring the US dollar down. Read here to know ...