Syrian President Bashar Assad has called for the BRICS nations to help abandon the use of the U.S. dollar for international settlements. He made these remarks during a meeting with Zhai Jun, China’s special envoy for the Middle East, praising the Chinese mediation that resulted in the rapprochement between Saudi Arabia and Iran, who have both applied for membership in BRICS. Assad emphasised the need for the adoption of the Chinese Yuan for cross-border trade transactions. He noted that the confrontation with the West has been mostly in the economic field and called for the leading nations to abandon the U.S. dollar. He praised China’s presence for its politico-economic role in rebalancing the global situation. The BRICS alliance has the potential to create an international multipolar order, he added.
Furthermore, China has been supporting efforts to reduce dependence on the U.S. currency, to promote the use of the Yuan in international trade, and is encouraging the enlargement of BRICS. Zhai Jun assured Assad that China would continue to support Damascus in international forums and its “battle against hegemony, terrorism and external interference.” Chinese diplomacy has been active in the Middle Eastern and global regions, expanding the republic’s influence.
Assad’s remarks come amid growing concerns over the hegemony of the U.S. dollar in international settlements. Additional nations have started to search for alternatives, including the adoption of digital currencies, particularly Bitcoin. The World Bank and International Monetary Fund are open to the possibility of creating a public digital currency under their guidance.
The call for discarding the U.S. dollar and adopting a multipolar system appears significant in the Syrian context. Syria has been subjected to economic sanctions by Western countries, including the United States, for years. This has led to extreme economic hardship in the country, hindering its reconstruction efforts. Assad’s comments are a direct challenge to the global economic status quo, which is dominated by Western powers, including the United States. If the BRICS nations can help establish a multipolar system, there would be a path for a more inclusive global economic order.
