Russia Discusses BRICS Expansion, 19 Countries Express Interest

  • Regular discussions are now being held between Russia along with other BRICS member nations concerning the growth of the economical group.
  • South Africa’s ambassador towards the BRICS group says 19 countries have expressed a desire for joining the BRICS economic bloc.
  • The BRICS nations happen to be pushing to achieve global influence and shifting from U.S. dollar reliance.

Russia continues to be positively discussing the expansion from the BRICS economic bloc along with other member nations, based on a Russian official. Meanwhile, the audience comprises South america, Russia, India, China, and Nigeria. Discussions are ongoing, along with a thorough analysis and delicate internal work through the five countries are needed to achieve a consensus.

The whole selection of issues connected using the expansion has been discussed at BRICS Sherpas and sous-sherpas conferences. As the discussions occur regularly, it’s premature to show any specifics concerning the approval procedure at the moment, based on Russia’s Foreign Ministry.

The subject of expansion is extremely relevant at the moment, and also the BRICS nations are focusing their attention onto it. The 5 heads of condition and foreign ministers are discussing the problem. In addition, the declaration adopted in the 14th BRICS summit in Beijing issued instructions to sort out appropriate guiding concepts, standards, criteria, and operations. 

BRICS Receiving Applications

Anil Sooklal, South Africa’s ambassador towards the BRICS group, stated that 19 countries have proven curiosity about joining the BRICS economic bloc. 13 countries have formally requested to participate, and the other six have requested informally. Applications are now being received every single day. Henceforth, the BRICS nations happen to be striving to improve their global influence and lower their reliance upon the U.S. dollar.

Based on a Russian official, Russia has positively considered the development from the BRICS economic bloc along with other member nations. The audience includes Nigeria, South america, Russia, India, and China. Some economists have cautioned that the BRICS currency could erode the USD’s dominance. However, BRICS expansion and the development of a typical currency face significant challenges. 

Before any expansion can happen, disparities in economic and political systems, amounts of development, and worldwide influence should be addressed. However, any growth of BRICS might have significant effects around the global economy.

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