BRICS countries China, India, Saudi Arabia, and the UAE are benefiting immensely from the US economic sanctions pressed against Russia. The BRICS members China and India are buying laundered oil at cheaper rates from Russia by ditching the US dollar. India has purchased $186.45 billion worth of crude oil from Russian suppliers through laundered oil from China. Therefore, BRICS country Russia is evading sanctions by selling oil and accepting local currencies instead of the US dollar. In conclusion, India and China have combinedly saved $17 billion by ending reliance on the US dollar for oil purchases.

Source: The Telegraph October 15, 2023 12:19 UTC