Referring to yesterdays post that BRICS expanded their membership, this expansion might mark the beginning of the end of the petrodollar era. Membership of Saudi Arabia in the BRICS is a large step in that direction. This is why the admission of new members, and the launch of a new currency cannot be viewed in isolation. They are two parts of a common project. The expanded membership is exactly what makes the new currency more feasible.
The US governments aggressive politics, missteps and threads initiated by the start of a trade and currency war with China have strongly contributed to a further alliance between Saudi Arabia and the BRICS nations. The end of the petrodollar era will threaten the dollar dominance in world trade.