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5,000 Delegates Gather as BRICS Charts a Path to Sidestep Western Influence

[Oct 26 11:30 PM] With 5,255 delegates attending, the 16th BRICS Summit in Kazan focused on building a “multipolar world order” and reducing reliance on dollar-based systems. With Over 5,000 Delegates, BRICS Summit Sends a Message to the Dollar’s Dominance…

Iran Declares UN and IMF Ineffective, Advocates for BRICS-Driven World Order

[Oct 25 6:30 AM] Iran’s president slammed the UN Security Council and International Monetary Fund (IMF) at the BRICS summit, accusing them of losing effectiveness due to Western interference. He called for BRICS nations to reduce reliance on Western financial…

BRICS Unites 40 Nations at Leaders’ Summit — Russia Pushes for Global Partnerships

[Oct 22 1:30 AM] Nearly 40 countries will participate in the BRICS Plus/Outreach session, expanding the reach of the 2024 BRICS Summit hosted by Russia. The summit will address cooperation in politics, security, and economics. A central focus will be the expansion…

BRICS Summit to Far Surpass US Presidential Election in Global Importance, Russian Official Claims

[Oct 20 8:30 AM] The BRICS summit, not the U.S. presidential election, will be the defining event of global history, a Russian official claims. With BRICS expanding and 65% of its transactions now in national currencies, they argue the world is shifting away from…

South African Official: Common Currency Requires Central Bank, Threatens Monetary Policy Independence

[Aug 25, 2023 8:30 PM] South Africa’s minister of finance has explained why he believes that no country is ready for a common currency, including a unified BRICS currency. “Setting up a common currency presupposes setting up a central bank, and that presupposes losing…

BRICS Leaders Declare Importance of Using Local Currencies in International Trade

[Aug 24, 2023 7:30 PM] The BRICS leaders stress “the importance of encouraging the use of local currencies in international trade and financial transactions” in their declaration released at the conclusion of their 15th annual summit. In addition, the BRICS nations…

BRICS Invites 6 Countries to Join, Including Saudi Arabia, UAE, Iran

[Aug 24, 2023 6:00 PM] The BRICS economic bloc has invited six countries to become new members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. The BRICS leaders wrapped up their 15th annual summit on Thursday. “We have reached agreement on…

Brazil’s President Says BRICS Not Seeking to Counter US, G7, or G20 — Pushes for BRICS Currency

[Aug 23, 2023 9:30 PM] Brazil’s President Luiz Inacio Lula da Silva has stated that the BRICS economic bloc does not want to be “a counterpoint to the G7, G20, or the United States,” emphasizing that the BRICS nations “just want to organize ourselves.” The…

Xi Jinping: BRICS to Forge Stronger Partnership, People Do Not Long for New Cold War or Small Exclusive Bloc

[Aug 23, 2023 7:30 PM] Chinese President Xi Jinping stated at the BRICS summit that “What people in various countries long for is definitely not a new Cold War or a small exclusive bloc.” He stressed that the BRICS group will expand and promote global multipolarity…

Russian President Putin to BRICS Leaders: Irreversible Process of De-Dollarization Gaining Steam

[Aug 23, 2023 5:30 PM] Russian President Vladimir Putin said at the BRICS summit that “A balanced, irreversible process of de-dollarization of our economic ties is gaining steam.” The Russian leader stressed: “We oppose hegemonies of any kind and the exceptional status…

BRICS Bank to Issue First Indian Rupee Bond — Plans to Boost Local Currency Lending

[Aug 22, 2023 11:30 PM] The New Development Bank (NDB), also known as the BRICS Bank, is reportedly planning to issue its first Indian rupee bond by October. Last week, the bank issued its first South African rand bond. “NDB is seeking to increase its presence in…

BRICS Not Focusing on Creating Common Currency, Indian Official Says

[Aug 21, 2023 10:00 PM] A top Indian official has downplayed the creation of a shared BRICS currency. Emphasizing that “common currency discussions have several prerequisites before you can even talk about a common currency framework,” the official stressed that the BRICS…

Over 40 Heads of State Will Attend BRICS Summit, South Africa Confirms

[Aug 21, 2023 8:00 PM] South Africa, the host of the BRICS summit this year, has confirmed that more than 40 heads of state will participate in the summit that will take place on Aug. 22-24. South Africa has also claimed that 23 countries have formally applied for BRICS…

Volatility in Chinese Yuan, Russian Ruble Makes De-Dollarization Harder, Market Analyst Says

[Aug 20, 2023 8:30 PM] A market analyst says that the recent decline and volatility in the Chinese yuan, the Russian ruble, and to a lesser extent the Argentine peso, “will only add further challenges to the idea of de-dollarization.” He stressed that countries are…

Economist Lord Jim O’Neill Calls BRICS Currency Idea ‘Ridiculous’ — Says China and India Never Agree on Anything

[Aug 19, 2023 6:30 PM] Lord Jim O’Neill, the British economist credited with coining the acronym BRIC, calls the creation of a common BRICS currency “ridiculous,” emphasizing that the BRICS nations have “never achieved anything since they first started meeting.” H

Putin and Ramaphosa Discuss BRICS Summit, Trade and Cooperation; Russian President to Join via Video Link

[Aug 9, 2023 4:00 PM] Russian president Vladimir Putin and South African president Cyril Ramaphosa recently addressed cooperation, trade, and preparations for the upcoming BRICS summit. The two leaders conversed about practical cooperation and the expansion of the…

23 Countries Apply for BRICS Membership as Leaders Prepare to Convene at Summit

[Aug 8, 2023 9:30 PM] South Africa, the host of the BRICS summit this year, has published a list of 23 countries that have applied to become members of the economic bloc. Moreover, South African President Cyril Ramaphosa has invited 67 leaders and 20 representatives of…

Iran Increases Efforts to Join BRICS, Strengthen Ties With Member Countries

[Jul 31, 2023 11:30 PM] Iran has ramped up its efforts to become a member of the BRICS group ahead of the economic bloc’s summit. The Iranian deputy foreign minister for economic diplomacy revealed that Iran is actively pursuing opportunities to strengthen its…

US Second in World by Debt per Citizen, Rare Bitcoin Block Reward Awakens, BRICS Summit Invites — Week in Review

[Jul 30, 2023 5:30 AM] A recent study has shown that Singapore, the U.S., and Japan rank highest in the world by debt per citizen, according to United Nations data. In other news, a rare 2010 Bitcoin block reward has awakened after 13 years of dormancy, and the BRICS…

Russian Official Says BRICS Currency Could Be Discussed at Upcoming Summit

[Jul 29, 2023 9:30 PM] Russia’s deputy prime minister has stated that the topic of a common BRICS currency may still be on the table at the economic bloc’s upcoming leaders’ summit. A total of 69 leaders, including all African heads of state, have already been…

White House Says US Policy Allows Partners to Seek BRICS Membership

[Jul 26, 2023 6:00 PM] The White House has affirmed that U.S. policy does not ask partners to choose between the U.S. and other countries, including the BRICS nations. “The U.S. does not want to limit countries’ partnership with other countries,” said Press Secretary…

BRICS Invites 69 Leaders to August Summit — Western Countries Omitted

[Jul 25, 2023 8:00 PM] The BRICS economic bloc has invited 69 leaders to its upcoming summit, including all African heads of state and the political heads of major Global South bodies. More than 40 countries have expressed interest to join the BRICS group, with 22…

BRICS Currency Not on Agenda for Leaders’ Summit — Nations to Focus on De-Dollarization

[Jul 22, 2023 7:30 PM] The heavily anticipated BRICS currency is not on the agenda to be discussed at the economic bloc’s upcoming leaders’ summit, according to South Africa’s diplomat in charge of BRICS relations. He clarified that the BRICS members will focus on…

Brazil to Push De-Dollarization Agenda at BRICS Meeting

[Jun 23, 2023 10:30 PM] Brazilian President Luiz Inácio Lula da Silva has revealed his intention to raise the issue of de-dollarization at the next BRICS meeting. “Why Brazil and Argentina would trade in dollars. Why don’t we do it in our own currencies? Why…