الإصدار 7 - العدد 19 (2026-10-20)

BRICS and the Multipolar Transition: China, Iran, and Saudi Arabia in Trade, Finance, Energy, and the Erosion of Western Commercial Hegemony

Dr: Salahuddin

Department of Mathematics - College of Science - Jazan University- Jazan-45142 Saudi Arabia

The expansion of BRICS to eleven member states—including Iran, Saudi Arabia, the UAE, Egypt, Ethiopia, and Indonesia—marks a structural transformation in global economic governance. This paper examines the group’s evolving role in trade, finance, energy, and tourism, with particular attention to China’s institutional leadership, Iran’s strategic position as a sanctions-experienced energy node, and Saudi Arabia’s multi-alignment strategy. It analyses the functional significance of the Strait of Hormuz and Bab el-Mandeb, the trajectory of de-dollarization, and the gradual erosion of US–European commercial hegemony. It also examines the role of the Saudi riyal in BRICS trade and assesses the implications for the US economy of a major American partner joining the group. The central argument is that BRICS does not seek to replace the dollar or dismantle existing institutions, but rather to build “more choices”—additional currencies, payment channels, and development finance sources—that reduce the Global South’s structural vulnerability. This “architecture of choice” represents a pragmatic, incremental reconfiguration of the global financial system rather than a revolutionary rupture. Saudi Arabia’s role is examined in detail as a pivotal hub: a trading partner, energy stabilizer, sovereign investor, tourism actor, and diplomatic shock absorber whose multi-alignment strategy moderates the pace of systemic change.