This strategic pivot aligns with the broader ambitions of the BRICS economic alliance, of which the UAE is a recent addition. The changeover, involving the transition to local currencies for oil transactions, marks a significant departure from the long-established dollar dominance in the global oil market.

Bottomline is the UAE’s decision to transition from the US dollar to local currencies in its oil trades is a bold and strategic move that reflects the changing dynamics of the global economic landscape.

https://www.msn.com/en-us/money/markets/uae-officially-stops-using-dollar-for-oil-trades/ar-AA1kCMxH