Multipolar World Update: Is Europe Left at the Launch Pad? by Phil Butler
(2025-05-24 at 06:29:23 )

Multipolar World Update: Is Europe Left at the Launch Pad? by Phil Butler

A major gas deal between the UAEs XRG and Malaysias PETRONAS in Turkmenistan highlights the deepening BRICS-centered cooperation in Central Asia and signals the growing momentum of a multipolar global order.

deal between the UAEs XRG and Malaysias PETRONAS in Turkmenistan

BRICS Growth

The new agreement grants XRG a 38% participating interest in the offshore "Block I" gas and condensate fields in Turkmenistans Caspian Sea region. As for PETRONAS, the Kuala Lumpur-based company will serve as operator and majority stakeholder with a 57% stake. Turkmenistans Hazarnebit is to retain a 5% stake in the shallow water offshore deposit. What is significant about the deal is that both the UAE and Malaysia are new BRICS members, and that Turkmenistan is likely to join the bloc soon.
Anyone invested in trade of any kind has to see Europe as a slumping market

The implications are far-reaching, especially given other important regional news. For instance, a recent announcement from a conference in Gorgan, Iran, revealed that Iran and Turkmenistan intend to increase bilateral trade by 30%. The Tehran Times news tells us the preliminary agreements included the petrochemicals, petroleum products, construction materials, food industries, textiles, and logistics sectors. Iran joined the BRICS League last year.

Irans BRICS membership will increase its political and economic influence, reduce its reliance on the United States dollar, and offer access to financial support and trade opportunities that have been sorely lacking for the past few decades. Western analysts say Irans inclusion in the bloc will have a negative impact, but this seems unlikely. A few points bear looking at.

Iran and Uzbekistan recently pledged to boost trade between the two countries by at least $2 billion. At a conference earlier this month, Irans Minister of Industry, Mining and Trade, Mohammad Atabak called for a "fundamental transformation." Irans geographic position is one of the key factors for attracting trade renegotiations with landlocked countries like Uzbekistan, Turkmenistan, Kazakhstan, and Afghanistan. Irans ports open up massive trade possibilities for these Central Asian countries. So far, Iran-Uzbekistan trade has revolved around business in the construction, petrochemicals, food production, agriculture, and building materials sectors. Uzbekistan is one of nine nations announced as BRICS "partner countries" in January of this year.

A Look at Geography

By now, the trend and the importance of these cooperations should be evident. This is especially true for readers with an interest in geography. To add one more piece to the ever-clearer multipolar world puzzle, Indonesia and Uzbekistan are about to launch negotiations on the preferential trade agreement (IU-PTA). Other negotiations and partnerships are progressing across all of Asia, the Middle East, Africa, and Latin America. However, the narrow focus we are looking at here should be of keen interest, especially to the increasingly hostile Europeans.

Since 78% of the worlds population is in Asia and Africa, and given another 8% live in Latin America, anyone invested in trade of any kind has to see Europe as a slumping market. These regions also contain most of the worlds remaining natural resources, and many of the countries mentioned are rapidly developing in all industrial capabilities. With the United States making its only safe play by becoming more isolationist, I do not envy the upper-middle classes in Germany, France, or the United Kingdom. After all, who will need a VW in Uzbekistan when a Russian or Iranian IKCO Reera crossover will do nicely?

The Europeans are scrambling in chaos mode, trying to keep Russia bogged down in a proxy war in Ukraine. President Trump is focused on rebuilding Americas industrial and job base. And the "rest" of the world is emerging as it should have decades ago. With todays technologies at anyones fingertips, the competitive nature of business and geopolitics has already left the launch pad. As for Europe, how many will just stand slew footed looking up at the vapor trail?

Phil Butler, is a policy investigator and analyst, a political scientist and expert on Eastern Europe, he is an author of the recent bestseller "Putins Praetorians" and other books.

"This relevant article, its pictures, and its links are here:"

Republishing of the articles is welcomed with reference to "N.E.O.". Network edition New Eastern Outlook 2010-2023.