Checkmate BRICS!
Canada, eh! BTW, I never condone the policies of Canada, hence why I left, and it only got worse and worse. It’s still better than much of the world, though. I often think if more people thought like me, that countries would be in way better standing!
Let’s get to something more important.
Next week, Trump’s potential announcement on Russia is likely to combine sanctions on its energy sector with tariffs on BRICS nations, linking these measures to pressure Moscow and counter the bloc’s economic strategies. The sanctions target Russia’s war funding, while the tariffs aim to deter BRICS’ dollar-challenging ambitions, with Russia’s role in the group tying the two together.
Russia: Energy Sanctions
New sanctions may target Russia’s energy exports.
Immediate impact likely limited, as:
In 2024, Russia redirected 80%+ of oil exports (~4M barrels/day) to China and India.
Sales often conducted at discounted rates to maintain demand.
Potential new measures:
Sanctions on Russia’s “shadow fleet” of oil tankers.
Secondary sanctions on Asian buyers of Russian oil.
Enforcement would be gradual and complex.
BRICS Tariffs
Proposal: 10% tariff on imports from BRICS nations.
Likely targets: China and India due to strong trade with the U.S.
Russia’s direct U.S. trade is already down 90% since 2021, so tariff impact on Russia is indirect.
Objective: Deter BRICS from pursuing de-dollarization and economic decoupling strategies.
Interesting!