BRICS Overtakes the US in European Gas Trade

The BRICS alliance has surpassed the US in gas trade to Europe for the first time in nearly two years. Russia, a BRICS member, has become the leading supplier of LNG to Europe, outperforming the US despite facing sanctions. This increase occurs even as Europe seeks to reduce its dependency on Russian oil, yet several Eastern European countries remain heavily reliant on Russian imports.

Consequently, Russia has emerged as the top LNG supplier to Europe, overtaking the US in global trade. This development aligns with BRICS’ broader strategy to challenge the US dollar’s dominance as the world’s reserve currency, aiming to control the global oil and gas sector and diminish the influence of the US dollar.