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China is aiding Afghanistan’s conservative government, the Taliban to be a new competitor in the global crude oil sector. China’s Xinjiang Central Asia Petroleum and Gas Co (CAPEIC) signed a 25-year agreement with the Taliban for crude oil investments. The contract states that BRICS member China will invest $540 million by 2026 to help the Taliban increase crude oil output.
China is the only BRICS country that’s spreading its arms across the world and aiding developing countries with oil production. The Communist nation has invested in Afghanistan, Pakistan, Sri Lanka, and other African countries through the Belt & Road Initiative.
BRICS wants to dominate the global oil sector and challenge the US dollar’s supremacy. That’s the reason why the BRICS alliance inducted four new oil-producing countries this year.