
Jakarta, Pintu News – Sanctions imposed by the United States on BRICS countries are expected to have a negative impact on the US economy itself. Rosneft CEO Igor Sechin warned that the steady economic growth of BRICS countries compared to the stagnation of US GDP will accelerate the economic crisis in the West. It is feared that the aggressive sanctions policy will turn against the US due to growing dissatisfaction with Western policies.
According to Sechin, the continued policy of sanctions against Russia and China will accelerate the arrival of an economic crisis in Western countries. Many Western politicians do not seem to realize the risks of this policy. These sanctions not only affect the sanctioned countries but also worsen the economic situation in Western countries themselves.
Sanctions aimed at strengthening the US position in the energy sector and seizing energy assets in international jurisdictions have had a negative impact on energy consumers in Western countries. The situation was further dramatized by the rising energy prices and supply shortages that resulted from the policy.
BRICS, which consists of Brazil, Russia, India, China and South Africa, continues to show significant economic growth. The bloc controls more than 42% of global oil production and supply, making it a key player in the world energy market. This growth is expected to continue despite pressure from sanctions.
Sechin emphasized that despite the challenges, BRICS will emerge as a stronger economic bloc. Investment in the global oil exploration sector declined sharply, but BRICS managed to maintain a better organic reserve replacement rate compared to major Western oil companies.
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If the US continues to implement sanctions against BRICS countries, it could worsen international relations and deepen the global economic crisis. The US’ dependence on global markets and international supply chains makes it vulnerable to economic disruptions caused by these sanctions policies.
Furthermore, the de-dollarization policy adopted by BRICS in response to US sanctions may reduce the dominance of the US dollar in global trade. This will have an impact on the dollar exchange rate and the US economy as a whole, which may experience a further decline.
Taking all these factors into account, it is imperative for US policymakers to reassess their approach to sanctions. Considering the long-term impact on the global and domestic economy, dialog and cooperation may be a more effective strategy to overcome differences with BRICS countries.
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A1: BRICS is an economic alliance consisting of Brazil, Russia, India, China and South Africa, which together control significant global oil production and supply.
A2: The US imposed sanctions on BRICS countries in response to their de-dollarization policies and other issues perceived as challenges to US interests on the global stage.
A3: The sanctions have led to increased energy prices and supply shortages in Western countries, worsening the economic situation at home.
A4: Sanctions could reduce the dominance of the US dollar in global trade and affect the exchange rate and the US economy as a whole.
A5: The suggested strategy is dialog and cooperation with BRICS countries to overcome differences and avoid the negative impact of sanctions on the global and US economy.