This seems potentially monumental. They could potentially destroy the fiat dollar which may forever ruin the ability the US had to hit countries with sanctions. Saudi Arabia, Argentina, Indonesia and Egypt are considering joining in the alliance.
https://twitter.com/Ultrafrog17/status/1664406143748194304?s=20
Creating a currency? You mean they won't be using an existing currency? I find it a little hard to believe they will create a new currency out of thin air and the world will flock to it