The Iranian oil industry has been under sanctions for years. Gadaffi pan-African currency was a pipe dream, which was later taken up by Robert Mugabe (still waiting for that one). Syria has very little oil to actually be a player on the international oil market.
The invasion of Iraq was stupid, but it didn't happen because Iraq "wanted to sell oil in other currencies".
And stepping harshly against Russia in Ukraine also serves as warning for China not to mess with Taiwan. If you let Putin do whatever he wants, China would feel emboldened that the West is weak and won't do anything. Just like what Putin felt when he got to do whatever he wanted in 2014.
Shits is about to get real, but it's not just the US or Europe that have economic troubles. Putin has managed to destroy his own country. Argentina is an economic basket-case. Brazil's economy, while more economically sound than Argentina's, is in deep trouble. Turkey is experiencing hyperinflation. South Africa had been experiencing recession even before COVID (and could be further destabilized if Julius Malema and his Economic Freedom Fighters get more power). India and China hate each other. Plus the Chinese economy is not looking too rosy at the moment either.
In my opinion, the BRICS as a stable economic and political grouping on the world stage is overrated. People have been waiting for it for the past two decades, but so far not much has materialized. Politically, culturally and economically they are too different. They don't even trade that much with each other. The US and Europe are much more important economically to China than the rest of the BRICS combined. As I said before, China and India are rivals, and even had armed clashes. And it's not the West that is the real threat to Russia, but rather China. Parts of the Russian Far East were actually Chinese in the past, and since the fall of the Soviet Union that area has declined significantly. China has been buying up a lot of stuff there, and now that Putin has destroyed his military, the Chinese can waltz in at will.
And the US is actually not that dependent on foreign oil. Much of oil production is domestic (with some even going for exports). And the country it imports the most oil from is.... drum roll please... Canada ...
