Sudan Turns to BRICS & Alternative Banking to Bypass Western Sanctions: Reports
Sudan Turns to BRICS & Alternative Banking to Bypass Western Sanctions: Reports
Fearing an expansion of US and European sanctions, Sudan's government has adopted new economic strategies including the use of local currencies in trade and alternative alliances, according to the local media citing official sources.
The key objectives of the new approach:
🟠diversifying economic and trade partnerships;
🟠reducing reliance on major currencies like the dollar.
Sudan follows the counter-coercion methods of countries like Russia and Iran, the report said.
The country lost a historic opportunity to write off over 80% of its $60 billion debt due to the political instability and the war, according to the Sudanese economics professor cited by the media.
ℹThe US has already imposed sanctions on army chief Abdel Fattah al‑Burhan and networks linked to the Sudanese army, while prospects for a negotiated solution with the Rapid Support Forces remain bleak, raising the risk of further Western sanctions.
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