Russia: Indonesia, Malaysia and Thailand are new partners in BRICS

Russia: Indonesia, Malaysia and Thailand are new partners in BRICS

    Friday, November 15, 2024   No comments

Russian Deputy Foreign Minister Alexander Pankin revealed that Indonesia, Malaysia and Thailand have become partners in the BRICS bloc.

Pankin explained during a joint meeting of foreign and trade ministers of APEC member states that the BRICS summit held in Kazan "demonstrated the desire of the global majority to create a fair world order, with a focus on reforming international institutions and strengthening equal economic relations."

He also pointed out that "the summit resulted in a set of important agreements in the fields of trade, investment, artificial intelligence, energy, climate and logistics."

Pankin pointed out that "the share of the economies of the Asia-Pacific region in Russia's foreign trade has reached 70%, while about 90% of payments are made in national currencies."

In a related context, the Russian Deputy Foreign Minister confirmed that his country continues to secure stable supplies of energy resources to the APEC countries.

It is noteworthy that the BRICS summit, which was held in Kazan between October 22 and 24, was attended by the heads of state of the group.

BRICS Calling for a ceasefire in Gaza: We condemn Israel's attacks on Lebanon and Syria

BRICS Calling for a ceasefire in Gaza: We condemn Israel's attacks on Lebanon and Syria

    Wednesday, October 23, 2024   No comments

The BRICS group of countries stressed the need for an immediate and permanent ceasefire in Gaza, expressing its condemnation of the Israeli occupation's targeting of humanitarian operations and aid distribution centers in the Strip.

In a statement issued by the summit held in Russia on Wednesday, BRICS expressed its support for granting occupied Palestine full membership in the United Nations.

In addition, the group's countries confirmed that they consider the occupation's bombing of pagers in Lebanon a violation of international laws, expressing their condemnation of Israel's targeting of Iranian diplomatic buildings in Damascus.

In the statement, BRICS urged all parties to resume the Iranian nuclear agreement, calling for strengthening the "non-proliferation regime and establishing a nuclear-weapon-free zone in the Middle East."

Regarding the war in Ukraine, BRICS countries welcomed "good offices proposals on the Ukrainian settlement."

They also called for accelerating "the development and adoption of a comprehensive agreement to combat international terrorism within the framework of the United Nations," expressing "deep concern about the negative impact of unilateral sanctions on the global economy and other areas," and stressing the group's "leading role in the process of improving the global financial system."

It is noteworthy that the activities of the second day of the BRICS Summit 2024 began on Wednesday in the Russian city of Kazan, where a number of leaders, leaders and guests arrived in the city to participate in the summit, which was held in an expanded manner.

During a brief meeting held by Russian President Vladimir Putin with the group’s leaders, he confirmed “the existence of radical changes in a multipolar world,” stressing that his country “seeks to strengthen BRICS’ position in the world and focus on solving global and local problems,” adding that the group’s countries “show responsibility in their dealings with global situations through actions, not words.”

What to expect from BRICS under Russia's leadership

Russian President Vladimir Putin announced today, Wednesday, during a narrow meeting with the leaders of the BRICS group, that there are radical changes in a multipolar world.

During the meeting, Putin stressed that the BRICS countries have enormous economic, scientific, demographic and political potential.

He pointed out that Russia seeks to strengthen the position of BRICS in the world and focus on solving global and local problems, adding that the group's countries "show responsibility in their dealings with global situations through actions, not words."

The Russian president also stressed that "the BRICS countries' share in the global economy by the end of this year will represent 36.7%, which is more than the share of the G7 countries," adding that "the BRICS countries have become the most powerful economic group in the world."

He stressed that using the dollar as a weapon undermines confidence in it, noting that Russia is not abandoning it but is forced to look for alternatives.

Regarding the expansion of BRICS, Putin said: “Of course, it would be wrong to ignore the unprecedented interest of the countries of the Global South and East in strengthening contacts with the group’s countries, as more than 30 countries have already expressed this desire in one form or another,” but at the same time, “it is necessary to maintain balance and prevent a decline in BRICS’ effectiveness.”

During the meeting, the Russian President proposed to form a list of BRICS partner countries and to fix this in the final declaration of the Kazan Summit.

An alternative to SWIFT and de-dollarization.. BRICS expansion pushes towards a new global financial system

With the BRICS summit being held in the Russian city of Kazan with the participation of 36 countries, the group's aims have begun to materialize in practice, as its serious and decisive efforts to expand its membership circle have become apparent, and thus push towards creating a new financial system, far from the SWIFT system, which serves specific economic entities and entrenches economic crises that harm every entity trying to find a place outside the framework of Western hegemony.

The use of the US dollar and the SWIFT system as a weapon by the United States of America, especially after targeting Russia and separating it from the SWIFT system in 2022, has raised deep concerns about the security of the global financial system centered around America, as this exclusion has serious economic consequences, not only for the targeted countries, but for global trade in general.

This situation has highlighted the urgent need for alternatives to SWIFT, and for a financial system less dependent on the dollar to mitigate such risks. In this context, the group has long been discussing the idea of ​​a BRICS currency, which could be a basket of currencies backed by natural resources such as gold, oil and gas. What helps BRICS is that its countries collectively have larger gold reserves than the International Monetary Fund and the European Central Bank combined, according to the Independent Online website, and it is now seeking to expand its membership.

  

Media Review: Finnish President's article in The Economist, "the era of Western dominance as we know it is over"

Media Review: Finnish President's article in The Economist, "the era of Western dominance as we know it is over"

    Monday, July 08, 2024   No comments

Finnish President Alexander Stubb has said that what we are witnessing today is in many ways equivalent to what happened in 1918, 1945 and 1989, and that the next few years will likely determine the world order, its balance and its dynamics for the rest of the century, or at least for decades to come.

In an article in The Economist, Stubb spoke of “moments in international relations when we know that the world is changing, but we don’t know exactly where it is heading,” stressing that “we are living in one of those moments when an era dies and a new one is born.”

The Finnish president noted in his article that “the things that were supposed to bring us together – trade, technology, energy, information and currency – are now tearing us apart.”

Stubb admitted that he was among many who believed that the end of the Cold War would mean the end of history, but that did not happen. The era of Western hegemony, as we used to know it, is over.

He believed that the question now is how global power will be shared in the future, while we are now witnessing a reorganization of the balance between three areas of power: the global West, the global East, and the Global South, stressing that this classification of the power triangle, if it constitutes an oversimplification, helps to clarify how the world is changing.

"West and East are fighting for hearts and minds in the South"

Stubb summed up the equation by saying that "West and East are fighting for hearts and minds in the South", attributing the matter to his realization that the South will decide the direction of the new world order.

Stubb believed that the West is mistaken if it imagines that the South will be attracted to it only because of what he called "the values ​​or power of freedom and democracy", and that the East is also mistaken if it imagines that huge infrastructure projects and direct financing will give it complete influence in the South.

The Finnish president concluded in his article that "it is ultimately a matter of values ​​and interests together", and that "the South will choose what it wants, because it can do so".

Stubb believed that the West must choose between continuing to believe in the illusion that it can remain dominant, as it has done for centuries, or accepting the facts of change and starting to act accordingly, especially towards the South.

Stubb stressed that Indian Foreign Minister Vinay Mohan Kwatra provided material worthy of thought when he pointed out that “Europe must get rid of the mentality that Europe’s problems are the world’s problems, but the world’s problems are not Europe’s problems.”

He pointed out that one of the reasons why the East is a more convincing partner for the South is related to the systematic infrastructure, financial and development programs that China is implementing around the world, describing China’s strategy as “successful.”

Stubb concluded his article by emphasizing that if the West “returns to its old ways of direct or indirect domination, or outright arrogance, it will lose the battle.”

BRICS Foreign Ministers Support Granting Palestine Full UN Membership

BRICS Foreign Ministers Support Granting Palestine Full UN Membership

    Tuesday, June 11, 2024   No comments

The foreign ministers of the BRICS member states condemned the Israeli attacks against the Palestinians and declared their support for Palestine's full membership in the United Nations. This came in a joint statement issued after their meeting in the Russian city of Nizhny Novgorod on Monday evening, which was published on a Russian Foreign Ministry's website.

The statement explained that the ongoing conflicts around the world are "worrying", stressing the need to commit to peaceful resolution of disputes through diplomacy, dialogue, consultation, coordination and cooperation.

It also affirmed support for all efforts that help peaceful resolution of crises, stressing "the need to respect international humanitarian law in conflicts and provide humanitarian assistance as stipulated in United Nations resolutions".

The statement expressed deep concern over "the deterioration of the situation in the occupied Palestinian territories and the unprecedented Israeli escalation of violence in Gaza, which has caused casualties and destroyed civilian infrastructure".

In this context, the ministers called for the effective implementation of relevant UN General Assembly resolutions and Security Council Resolution 2720, regarding the safe and unhindered delivery of humanitarian assistance to civilians in the Gaza Strip.

The statement also expressed deep concern over the increasing Israeli attacks on Rafah, noting that the ministers "condemned the Israeli military operation in Rafah and its consequences, which directly affect the lives of civilians and the forced displacement of Palestinians, and reiterated their rejection of any attempt to displace or transfer them to another location, and warned of the effects of the increasing tensions extending to the rest of the Middle East region."

The statement stressed "support for Palestine's full membership in the United Nations, and commitment to the vision of a two-state solution, including an independent Palestinian state on the 1967 borders, with East Jerusalem as its capital."

It is worth noting that "BRICS" is a bloc founded in 2006 and includes China, Brazil, Russia, India and South Africa, before Egypt, Ethiopia, Iran and the UAE joined it in early 2024.

Source: Joint Statement of the BRICS Ministers of Foreign Affairs/International Relations, Nizhny Novgorod, Russian Federation, 10 June 2024

Argentina will likely withdraw its application to join BRICS

Argentina will likely withdraw its application to join BRICS

    Tuesday, November 21, 2023   No comments

With a new president who wants to align Argentina with the US, especially if Trump returns to the White House next year, Argentina is likely to halt its pursuit of joining BRICS.

Diana Mondino, the candidate for Argentine Foreign Minister, relayed to Sputnik after the elections that Argentina will not be joining BRICS.

 “I don’t know why there is such interest in BRICS,” Mondino added.

 Mondino further added that joint collaborations with China and Brazil will stop, despite them being Argentina's main trading partners, as she stressed that the country intends to stay in the South American trade bloc Mercosur.

 It is worth noting that Milei is against joining BRICS.

Earlier in August, Argentina, alongside Egypt, Iran, Ethiopia, UAE, and Saudi Arabia were invited to join BRICS.

Argentinian president Fernandez articulated at the time that Buenos Aires is grappling with an economic crisis with high inflation and weak foreign currency reserves, and was looking to join the bloc.

Meanwhile, BRICS nations meet today in a virtual summit to discuss the crisis in Gaza. After the meeting, the President of South Africa read the final statement of the BRICS countries regarding the situation in the Gaza Strip.

The statement expresses condolences to all those affected in Israel and the Gaza Strip, while also accusing Israel of violating international law. Ramaphosa, states that the primary cause of the conflict is Israel's illegal construction of settlements. The President of South Africa calls for the release of hostages taken during the Palestinian-Israeli conflict — a statement from the BRICS countries. The President of South Africa urges the International Criminal Court to initiate an investigation into those who committed war crimes during the Palestinian-Israeli conflict — a statement from the BRICS countries.

The aftermath of BRICS expansion: The West will warn its Arab Allies who joined the Bloc

The aftermath of BRICS expansion: The West will warn its Arab Allies who joined the Bloc

    Monday, September 04, 2023   No comments

BRICS membership expanded, and with that expansion comes benefits and responsibilities. Among them is closer economic cooperation among member states. This would mean that Russia, the hardest hit country by Western sanctions, and Iran, the second longest hit country by Western sanctions will be able to trade without fear of Western limits. Tow of the Arab nations that joined BRICS recently, Saudi Arabia and UAE, will feel the heat from their Western allies. It already started.

Officials from the US, UK, and EU are planning to “jointly press” the UAE into halting shipments of goods to Russia that "could help Moscow in its war against Ukraine,' according to western officials who spoke with the Wall Street Journal (WSJ).

Several US and European officials started a trip to the Gulf monarchy on 4 September “as part of a collective global push to keep computer chips, electronic components, and other so-called dual-use products” away from Russia.

Western envoys also traveled “jointly and separately” to countries such as Turkiye and Kazakhstan to pressure authorities into preventing western dual-use products from reaching Russia.

Despite ongoing pressure from the west, Abu Dhabi has not enforced sanctions imposed on Russia, instead deepening cooperation with the Kremlin. Nonetheless, the Gulf nation has condemned the invasion of Ukraine at the UN several times, and an Emirati official told the WSJ that the country enforces UN-imposed sanctions on Russia.

The official added the Gulf state is monitoring the export of dual-use products and is committed to protecting “the integrity of the global financial system.”

In response to the position taken by the UAE, US officials publicly labeled the UAE "a country of focus" earlier this year as they look to clamp down on Russia's ties with independent nations.

Dubai, in particular, has reaped the benefits of the Emirati government's neutrality, as Russian nationals have become the largest buying group of real estate in the luxurious Emirate, which has also become a hub for Russian oil traders.

The new pressure campaign from the west comes less than two weeks after the UAE was officially invited to join the Russian and Chinese-led BRICS+ group of nations. The expanded bloc also pledged to help Africa develop its local economy through investments by member states who have the cash and loans from the New Development Bank (BRICS bank). UAE, a country with cash that need to be invested, is taking advantage of this new opportunity.

The UAE pledged $4.5 billion in clean energy investments for the African continent on 5 September during the second day of the three-day African Climate Summit held in the Kenyan capital, Nairobi.

“We will deploy $4.5 billion … to jumpstart a pipeline of bankable clean energy projects in this very important continent,” Sultan Ahmed al-Jaber, the head of state-owned renewable energy firm Masdar and the Emirati national oil company ADNOC, told attendees on Tuesday.

“If Africa loses, we all lose,” warned Jaber, adding that the investment aims “to develop 15 GW (gigawatts) of clean power by 2030” and “catalyze at least an additional $12.5 billion from multilateral, public and private sources.”

Jaber, who is also president of the upcoming COP28 climate summit to be hosted by the UAE, said a consortium including Masdar would help achieve the clean power goals and stressed that a “surgical intervention of the global financial architecture that was built for a different era” is needed, urging institutions to lower debt burdens.

According to the International Renewable Energy Agency (IREA), Africa’s renewable generation capacity was 56 GW in 2022. Despite possessing an abundance of natural resources, just 3 percent of energy investments worldwide are made in Africa.

The three-day climate summit in Nairobi has attracted heads of state, government, and industry, including UN head Antonio Guterres, EU chief Ursula von der Leyen, and US climate envoy John Kerry.

“Renewable energy could be the African miracle, but we must make it happen,” Guterres told the summit on Monday. He also addressed the member states of the G20 to “assume your responsibilities” in the battle to combat climate catastrophe.

Kenyan President William Ruto said trillions of dollars in “green investment opportunities” would be needed as the climate crisis accelerates.

“Africa holds the key to accelerating decarbonization of the global economy. We are not just a continent rich in resources. We are a powerhouse of untapped potential, eager to engage and fairly compete in the global markets,” Ruto said.

Abu Dhabi sealed a deal with Egypt in June to build Africa's largest wind farm as the nation looks to rapidly expand the use of clean energy abroad and at home, where it operates three nuclear power reactors. The UAE also has three of the world's largest and lowest-cost solar plants. 

This focus on clean energy is part of the UAE’s Net Zero by 2050 Strategic Initiative.

The development of renewable energy sources has recently become a priority for Gulf states, including Saudi Arabia, which plans to source 50 percent of its energy requirements from renewables by 2030.

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Including Iran and Saudi Arabia.. 6 new countries join as full members of the "BRICS"

Including Iran and Saudi Arabia.. 6 new countries join as full members of the "BRICS"

    Thursday, August 24, 2023   No comments

Today, Thursday, 6 countries joined as full members of the "BRICS" group, namely Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE.

The Final declaration states:

91. We have decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of Iran, the Kingdom of Saudi Arabia and the United Arab Emirates to become full members of BRICS from 1 January 2024.  

In the details, South African President Cyril Ramaphosa said, during his participation in the activities of the third day of the "BRICS" group, that his country had agreed to join Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE as full members.

For his part, Russian President Vladimir Putin congratulated the new countries, saying: "I congratulate the new members of BRICS, and we promise the other members who wish to join, to open the door for them at the next summit."

Putin added, "It was a rich and important summit, and I congratulate all heads of state on the spirit of cooperation," calling for more cooperation, solidarity, and work towards development.

Indian Prime Minister Narendra Modi said that India supports the development and expansion of BRICS.

Modi pointed out that the development of the group is "a message that the whole world must hear," and it is an example of the amendments that must be made in various institutions.

In turn, Chinese President Xi Jinping said that the BRICS countries "have great influence and are responsible for establishing peace and stability in the world."

He also congratulated the countries that joined the "BRICS" and that made their decision to deal with developed and emerging countries, according to him.

During the speeches of the leaders of the countries at the closing session of the "BRICS" summit, Brazilian President Lula da Silva said that there is a one-sided world that threatens diversity and pluralism.

Lula added that the world is suffering from economic recession and lack of food security, saying: "We seek to reach a more just world."

For his part, the President of the UAE, Mohammed bin Zayed Al Nahyan, expressed his appreciation for the BRICS group's agreement to include his country in the group.

Bin Zayed said, in a tweet on the "X" platform, "We appreciate the agreement of the leaders of the BRICS group to include the United Arab Emirates in this important group."

He continued, "We look forward to working together for the prosperity and benefit of all countries and peoples of the world."

Iranian President Ebrahim Raisi confirmed today, Thursday, that "the expansion of the BRICS group shows that the unilateral approach is on its way to disappearing."

Raisi, during his meeting with his Chinese counterpart Xi Jinping, stressed that Iran's accession to the "BRICS" group would strengthen the bloc's opposition to American hegemony.

In a speech at the conclusion of the 15th BRICS summit, Raisi affirmed that Tehran supports the group's efforts to abandon the dollar in financial transactions, adding that "BRICS opens new horizons, and it is a way towards building a multipolar world."

Likewise, the Iranian president praised the decision of BRICS members to expand the group, which "provides grounds for continuing international development in a more equitable manner."

In his speech, the Iranian president reiterated his country's rejection of "all discriminatory and racist policies by the Israeli occupation against the Palestinian people."

For his part, Chinese President Xi Jinping said that his country is "ready to strengthen cooperation with Iran, within the framework of the BRICS group and other multilateral blocs."

On the sidelines of a BRICS leaders' summit in South Africa, Xi told Raisi that Beijing "is willing to strengthen friendship and deepen mutual trust with the Iranian side, and continue to support each other on issues of common core interests."

Another senior Iranian official welcomed his country's admission to the "BRICS" group of emerging countries, which so far includes Brazil, Russia, India, China and South Africa, describing it as a "strategic success" for its foreign policy.

"Permanent membership in the Global Emerging Economies Group is a historic event and a strategic success for the Islamic Republic's foreign policy," Mohammad Jamshidi, political advisor to Iranian President Ebrahim Raisi, wrote on the X platform.

For his part, Ethiopian Prime Minister Abiy Ahmed praised the BRICS announcement of his country's accession to the group.

"This is a great moment for Ethiopia as BRICS leaders endorse us joining this group today," Abiy Ahmed said on X, formerly known as Twitter.

He added that his country is ready to cooperate with everyone for a comprehensive and prosperous world order.

The activities of the fifteenth international meeting of the BRICS 2023 summit began on Tuesday in Johannesburg, South Africa.

Yesterday, the leaders of the "BRICS" summit declared, in its second meeting, its firm stand against hegemony and neo-colonialism.

The leaders of 4 countries are participating in the summit personally, and they are Chinese President Xi Jinping, Brazilian President Lula da Silva, Indian Prime Minister Narendra Modi, and South African President Cyril Ramaphosa, while Russian President Vladimir Putin participates, via video technology, while the Russian delegation is headed. Participant in the summit, Foreign Minister Sergey Lavrov.

The announcement of the final statement of the “BRICS” summit … details affecting the United Nations and the Security Council to give more democracy and effectiveness to the organization

In their closing statement issued today, Thursday, the BRICS leaders expressed concern about the use of unilateral measures that negatively affect developing countries.

The BRICS leaders supported reforms in the United Nations, including the Security Council, in order to make the organization more democratic and effective.

The text of the final statement following the summit currently held in Johannesburg, South Africa, stated: “We express our concern about the use of unilateral coercive measures, which are inconsistent with the principles of the United Nations Charter and lead to negative consequences, especially in developing countries.”

He added, “We reaffirm our commitment to strengthening and improving global governance by promoting a more flexible, effective and efficient system … a democratic and accountable multilateral international system.”

According to the declaration: “We call for increased participation of emerging markets and developing countries in international organizations and multilateral forums.”

According to the declaration, the BRICS countries support the continuation of cooperation within the bloc to enhance the interconnection of supply chains and payment systems.

And the statement continued: “We reaffirm that openness, efficiency, stability and reliability are essential to addressing economic recovery and stimulating international trade and investment. We call for more cooperation between the BRICS countries to enhance the interconnection between supply chains and payment systems in order to stimulate trade and investment flows.

"The leaders of the BRICS group reaffirm their support for the establishment of an open and fair international trade system based on the rules of the World Trade Organization," the statement said.

In the statement, BRICS stressed the need to solve the Iranian nuclear problem through peaceful and diplomatic means, and in accordance with international law.

The statement added, "We call for strengthening arms control and non-proliferation, including the Convention on the Prohibition of the Development, Production and Stockpiling of Bacteriological (Biological) and Toxin Weapons and on Their Destruction, and the Convention on the Prohibition of the Development, Production, Stockpiling and Use of Chemical Weapons and on Their Destruction."

“We stress the importance of encouraging the use of national currencies in international trade and financial transactions, whether within the BRICS countries or with trading partners,” the statement said.

The statement added: “We call on the space agencies of the BRICS countries to continue to increase the level of cooperation in the field of exchanging data via satellites and their applications in order to provide information support for the economic and social development of the BRICS countries.”

And the statement continued: “We recall our national positions regarding the conflict in and around Ukraine, which were expressed in relevant forums, including the UN Security Council and the UN General Assembly. We note with appreciation the offers of mediation and the special good offices in this matter aimed at resolving the conflict by peaceful means through dialogue and diplomacy, including the peace mission undertaken by African leaders, and the proposed path to peace.

"Recognizing that BRICS countries produce a third of the world's food, we reaffirm our commitment to strengthening cooperation in agriculture and developing sustainable agriculture for BRICS countries to improve food security within BRICS countries and around the world," the statement added.

According to the statement: “BRICS countries appreciate the great interest shown by the countries of the Global South in BRICS membership.”

"We stress the need to help countries going through the post-conflict stage for recovery and development, and we call on the international community to help countries achieve their development goals," the statement said.

The document stated that “Brazil, India, China and South Africa express their full support for Russia, regarding its presidency of the “BRICS” group, in 2024, and the holding of the sixteenth “BRICS” summit in the Russian city of Kazan.

Algerian President Abdelmadjid Tebboune: Algeria had submitted an official request to join the BRICS group

Algerian President Abdelmadjid Tebboune: Algeria had submitted an official request to join the BRICS group

    Sunday, July 23, 2023   No comments

On Friday, the Algerian “An-Nahar” TV quoted the Algerian President, Abdelmadjid Tebboune, as saying that Algeria has submitted an official request to join the “BRICS” group, and that it will become a shareholder in the “BRICS” bank, with an amount of $ 1.5 billion.

Tebboune said, "Algeria has officially asked the president of the BRICS bank, Dilma Rousseff, to agree to be a shareholder in the bloc's bank," noting that "Algeria's first contribution will be $1.5 billion."

Earlier, Tebboune considered that his country's accession to the "BRICS" group would help it in development, more than the assistance of international financial bodies, adding that "the BRICS bank contains $100 billion, more than the World Bank."

Likewise, Tebboune said, on December 22, 2022, that "Algeria is close to joining the BRICS bloc," stressing that the BRICS countries will not mind granting Algeria full membership, and that they have approval from Russia.

The North African country, which is rich in oil and gas, seeks to diversify its economy and strengthen its partnership with countries such as China. Tebboune announced, during his visit to Beijing, that China will invest $36 billion in various fields in his country, including industry, modern technology, the knowledge economy, transportation, and agriculture.

In turn, a South African diplomat said, yesterday, Thursday, that 22 countries have submitted an official request to become members of the "BRICS" economic bloc, adding that countries, including Saudi Arabia and Iran, have officially requested to become members of the "BRICS" group, while the countries that have expressed interest in joining include Argentina, the Emirates, Algeria, Egypt, Bahrain and Indonesia.

Report: The new "BRICS" currency poses a threat to the West

Report: The new "BRICS" currency poses a threat to the West

    Monday, June 05, 2023   No comments

Russian Finance Minister Anton Siluanov said that instead of considering the BRICS currency as an alternative currency, "we will initially work to settle trade between the BRICS countries, and this could, in theory, create conditions for stronger monetary relations between the member states," according to UNHERD website.

The BRICS countries call for a “rebalancing” of the global system.. and Lavrov confirms the discussion of the issue of Saudi Arabia’s acceptance of the alliance

The BRICS countries call for a “rebalancing” of the global system.. and Lavrov confirms the discussion of the issue of Saudi Arabia’s acceptance of the alliance

    Thursday, June 01, 2023   No comments

The foreign ministers of the BRICS countries, who met Thursday in the Cape, before a summit scheduled for August, whose preparations are dominated by the question of whether Vladimir Putin will come to South Africa or not, called for a "rebalancing" of the global system.

The BRICS countries include South Africa, Brazil, China, India and Russia.

Indian Foreign Minister Subrahmanyam Jaishankar said at the start of the meeting, "The multipolar world is rebalancing and the old methods cannot handle the new situations."

For her part, South African Foreign Minister Naledi Pandor said, "Our discussions today will focus on opportunities to strengthen and transform global governance systems."

Pretoria has long called for the BRICS countries to create balance in a world system dominated by the West.

In response to a question by journalists about the Russian president's attendance at the summit in August, the minister confirmed that "an invitation was extended to each of the five heads of state."

Pandor added that the South African government, which has not taken a position on the possible arrest of the Russian president, is studying "legal options."

Putin has been issued an arrest warrant by the International Criminal Court for the "deportation" of Ukrainian children as part of Moscow's attack on Ukraine.

In theory, as a member of the International Criminal Court, South Africa is supposed to arrest the Russian president if he enters its territory. But the two countries maintain close relations.

Pretoria refuses to condemn Moscow since the start of the war on Ukraine, stressing that it takes a neutral position and prefers dialogue to resolve the crisis, which raises concern in the international arena.

In April, South African President Cyril Ramaphosa said the International Criminal Court's arrest warrant for Putin put South Africa "in a difficult position".

This week, the South African government granted diplomatic immunity to officials who attended the BRICS summit, saying it was standard procedure for organizing international conferences.

On the other hand, Russian Foreign Minister Sergey Lavrov announced today, Thursday, that the issue of accepting Saudi Arabia into the BRICS alliance had already been discussed.

Lavrov told reporters, after a meeting of the BRICS Council of Foreign Ministers, that the foreign ministers of the BRICS countries had already discussed the issue of accepting Saudi Arabia into the group.

Russian Deputy Foreign Minister Sergei Ryabkov said earlier today that "the issue of BRICS expansion will be discussed" during the ministerial meeting in Cape Town.

"There are many strong candidates to join BRICS, and Saudi Arabia is one of them," Ryabkov added.

He continued, "We support their candidacy unconditionally, and will do everything we can to ensure that the process of developing criteria for accepting new members is not delayed."

Russian President Vladimir Putin had previously announced that Russia would continue to develop relations with the Kingdom of Saudi Arabia at the bilateral and multilateral levels, indicating that Moscow supports Riyadh's accession to the BRICS alliance.

During the last summit (2022), Argentina and Iran formally submitted their applications to join BRICS, a move strongly supported by Russia and China.

And the “BRICS” group is a bloc that includes Russia, China, Brazil, South Africa and India. It was founded in 2006, at a summit hosted by the Russian city of Yekaterinburg, and its name changed from “BRICS” to BRICS in 2011, after South Africa joined it. This international group aims to increase economic relations. between them in local currencies, which reduces dependence on the dollar.

Comparing economic indicators for countries associated with BRICS and the G7

Comparing economic indicators for countries associated with BRICS and the G7

    Saturday, May 20, 2023   No comments

Economic data showed that "the BRICS economy has surpassed that of the Group of Seven."

The data indicated that "the Group of Seven, 30 years ago, was 2.5 times larger than the BRICS group, in terms of gross domestic product," while now, "the BRICS have surpassed the former colonial powers that make up the Group of Seven."

Economic analysts pointed out that this data may "answer what these powers are trying to stop, namely China, because it constitutes the largest part of the BRICS economy," as China is equivalent in terms of gross domestic product in US dollars to 6 countries from the Group of Seven.

In other words, China's GDP is equal to that of Germany, Japan, the United Kingdom, France, Italy and Canada combined.

In other interesting data on the share of international powers in global GDP since 1980, the third chart below shows that the United States has been on its share since 1980: no loss, no gain.

The data also shows that developing countries are also unchanged, while Europe, the Organization for Co-operation and Development and developed countries, except for the United States, are the biggest losers. As for China, its share has grown tenfold, to become the biggest gainer.

Earlier, Joseph W. Sullivan, senior advisor to the "Lindsey Group" and economist at the White House Council of Economic Advisers, said during the administration of former US President Donald Trump, that "the BRICS currency could shake the dominance of the dollar, and the moment of de-dollarization may have arrived." finally".

In his interview with the American newspaper "Foreign Policy", Sullivan added that in New Delhi, Alexander Babakov, deputy speaker of the Russian State Duma, said that "Russia is now leading the development of a new currency, which will be used for cross-border trade by the" BRICS "Brazil, Russia, India and China." and South Africa".

And based on the economy, at least, the prospects for the success of the currency issued by the “BRICS” group are contained, according to “Force Policy”, and although many practical questions remain unanswered, such a currency could expel the US dollar as a reserve currency for its members. "BRICS", and shook the position of the dollar from its throne.

Naldi Pandor, South African Foreign Minister, has said that the creation of a new BRICS currency will be a major item on the agenda of the upcoming "BRICS" summit, in Johannesburg on August 22.

Countries that have applied to join the BRICS:

At the moment, BRICS consists of Brazil, Russia, India, China, and South Africa.

Applications to join came from:

— Algiers,

— Argentina,

— Afghanistan,

— Bangladesh,

— Bahrain,

— Belarus,

— Venezuela,

— Egypt,

— Zimbabwe,

— Indonesia,

— Iran,

— Kazakhstan,

— Mexico,

— Nigeria,

— Nicaragua,

— UAE,

— Pakistan,

— Saudi Arabia,

— Senegal,

— Syria,

— Sudan,

— Thailand,

— Tunisia,

— Türkiye, and

— Uruguay.

*****

 Monetary Fund and the World Bank

Currently, the “BRICS” group occupies an important position in the global scene, as its member states enjoy increasing economic power and international influence. The group enhances cooperation and trade exchange between its member states, and seeks to increase its voice and influence in global affairs.

  The BRICS group is facing challenges in promoting economic and political cooperation among member states, but it is a strong alternative to the traditional global economic system.

According to the latest widespread data, the economic assessment indicates the superiority of the “BRICS” group over the Group of Seven, as the group includes Brazil, Russia, India, China and South Africa, and these member states are emerging economic powers that play a vital role in the global economy. The seven are from Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, as well as the European Union.

It is known that the “BRICS” group is witnessing continuous expansion, as Bangladesh, Egypt and the United Arab Emirates have joined the New Development Bank of the “BRICS” group, and there are several other countries preparing to join as well. This shift confirms the growth of the strength and influence of the “BRICS” group in the global arena, and may pose a challenge to the Group of Seven in the future.

And indications have emerged portending important developments about the future of the “BRICS”, which is the possibility of Mexico joining it, which constitutes a large part of the North American trade bloc (CUSMA). The United States to fair and equal trade competition with global economies on the American frontier.

Currently, the five BRICS countries contribute about 31.5% of global GDP, while the share of the Group of Seven countries drops to 30%. The BRICS countries are expected to exceed 50% of global GDP by 2030, and the proposed expansion will strongly advance this goal.

Previously, 30 years ago, the G7 was 2.5 times larger than the BRICS countries in terms of GDP. However, current data indicates that the BRICS countries have outperformed the former colonial powers of the Group of Seven.

Indeed, China's GDP surpassed that of the United States in 2015 when the economies were compared against a purchasing parity benchmark.

On the other hand, the interests of the BRICS countries are not only limited to trade, but are also rooted in the political belief that the world should be multipolar.

The BRICS group encourages the idea of a global system that includes several political and economic poles, in which its interests are better guaranteed through a balance of power and a multiplicity of partners, rather than a unipolar system in which the United States dominates.

And in 2021, the BRICS countries played an effective role in strengthening and reforming the global multilateral system, as they adopted a joint statement aimed at strengthening and reforming the global system.

  Among the aspects called for in this statement was the need to reform the current Security Council system in the United Nations to be more representative and in line with current global realities. The statement also dealt with many other issues of common concern to the BRICS countries.

According to economic data, China is particularly outperforming in its GDP. China's GDP is equal to a group of countries in the Group of Seven, including Germany, Japan, the United Kingdom, France, Italy, and Canada.

These data reflect the remarkable economic success of the “BRICS” countries, and indicate that China has a major role in achieving this success thanks to the large size of its economy within the BRICS group. China's strong economy enhances the position of the BRICS" as a powerful group and its influence on the global economy is increasing significantly.

However, it should be noted that China's economic supremacy does not necessarily mean that it has completely surpassed the G7 in all economic and political aspects. The Group of Seven still maintains its influence and its important role in international relations and world trade.

China's trade value with three of the four potential BRICS countries exceeds 100 billion US dollars, and its sales reach 416 billion US dollars. Indeed, China's trade alone accounts for more than 90% of the BRICS countries' total trade value in dollar terms. This is attributed to China's economic dominance and its impressive rate of growth.

According to the Chinese government, foreign trade between China and BRICS countries registered a year-on-year growth of 12.1% in the first five months of this year, amounting to about 195.71 billion US dollars. This rate is 3.8 percentage points higher than China's overall growth rate in foreign trade over the same period.

Russia also plays an important and active role inside and outside the BRICS group, with a turnover of about $164 billion. This can be explained by the fact that the BRICS countries are a group that is highly dependent on energy, as their population constitutes more than 40% of the world's population. Thus, net power exporters have a strong position. Russia's strength is based in particular as an energy producer for the "BRICS" countries.

As for India, its trade has recorded a value of 142 billion US dollars among the “BRICS” countries. India enjoys a more balanced trade outcome among the member states, trading equally with all members except China and South Africa, and especially for members with a large Indian diaspora.

And Brazil, it is noticeable that its intra-trade is directed towards Asia, especially China and India, instead of trade with Africa or Russia. This shift may indicate the importance of Asia in Brazil's economic relations and reflects the important role played by China in particular. This means that Asia is an important market for Brazilian products, and may also reflect the shift in Brazil's economic and trade orientation towards emerging markets and the rising economic powers of Asia.

It is noted that there is active trade between South Africa and other "BRICS" countries. Although the South African economy is considered the smallest in size among the “BRICS” partners, trade between India, South Africa, China and South Africa exceeds the trade between India and Russia or Russia and Brazil, and this indicates the existence of important economic relations between South Africa and the rest of the “BRICS” partners . This strong direction of trade reflects South Africa's preference to strengthen relations with the "BRICS" countries and take advantage of the trade and investment opportunities available in these countries.

Ultimately, according to Joseph W. Sullivan, former economist in the administration of US President Donald Trump, the creation of a new BRICS currency is a threat to the dominance of the US dollar and may contribute to the transformation of the world order. He also referred to Russia's efforts to develop a new currency that will be used for trade between the BRICS countries, which include Brazil, Russia, India, China and South Africa.

It is believed that the creation of a new BRICS currency may challenge the US dollar as a reserve currency and may shake its position as a strong global currency. This topic is expected to be part of the agenda of the upcoming BRICS summit in Johannesburg. This step may reflect the desire of some countries to achieve independence and abandon the heavy dependence on the US dollar in international trade and financial relations.

In conclusion, the BRICS countries are superior to the Group of Seven in many important economic indicators. This superiority raises questions about the transformation of economic and geopolitical power in the world? Are we about to see massive shifts in the global economic system? Will the hegemony of traditional Western countries recede and emerging countries will regain their global status?

These results may open the door to questions about the future of reserve currencies and the role of the US dollar as a strong global currency. Could a new BRICS currency emerge that would challenge and shake the US dollar? Will the system of global economic relations be radically modified?

These exciting developments call us to carefully follow the developments of the global economy and monitor the shifts in economic forces.

Why and how is Beijing becoming the Mecca of Geopolitics?

Why and how is Beijing becoming the Mecca of Geopolitics?

    Sunday, April 09, 2023   No comments

Brazilian Foreign Minister Mauro Vieira says Brazilian President Luis Inacio Lulu will meet with his Chinese counterpart in a few days, to exchange views on the war in Ukraine in particular.

Brazilian President Luiz Inacio Lula will head to China on Tuesday, after his visit was postponed due to pneumonia, to restore his country to the international arena.

This official visit of the Brazilian president to his country's largest trading partner was scheduled to take place between March 25 and 31, but doctors recommended that it be postponed due to "mild pneumonia" from which he has now recovered.

On Friday, Lula will meet his counterpart Xi Jinping to "exchange views on the war in Ukraine" in particular, Brazilian Foreign Minister Mauro Vieira told AFP and other international news agencies.

This official visit to China is the fourth for the Brazilian president, who began his third term in January, after being president from 2003 to 2010.

The Brazilian president promised to return his country "to the heart of the new global geopolitics", after the isolation it experienced during the rule of his far-right predecessor, Jair Bolsonaro.

In Beijing, Lula hopes to play again the role of mediator who contributed to reaching the nuclear agreement between Iran and the United States during his second term (2007-2010).

Brazil, like China, refused to impose sanctions on Moscow, and at the end of January it had drawn up a still vague proposal regarding the mediation of several countries in the war in Ukraine.

The Brazilian president said at the time that he was "confident" of the chances of success of this proposal, expressing his hope to "establish" the group of countries after his return from China.

On March 25, Celso Amorim, the Brazilian president's senior adviser on international affairs, met in the Kremlin with Russian President Vladimir Putin and his Foreign Minister Sergey Lavrov, who is visiting Brazil on April 17.

"To say that the doors are open (to peace talks) would be an exaggeration, but to say that they are closed is also not true," Amorim told CNN Brasil, on Monday, when asked about the outcome of the meeting with Putin.

However, the Kremlin ruled out "any prospect of a political settlement" mediated by China, despite the consensus expressed by Putin and his counterpart Xi during the latter's visit to Moscow at the end of March.

Before his meeting with Xi on Friday in Beijing, Lula will head to Shanghai on Thursday to attend the inauguration of former leftist President of Brazil Dilma Rousseff (2011-2016) as head of the New Development Bank, also known as the "BRICS Bank".

In 2006, during his first term, the "BRICS" group of emerging economies was created, which includes Brazil, India, China, Russia and South Africa.

Lula's visit to China will mainly deal with international political issues, as the economic aspect was dealt with a week ago, during the date previously set for the visit, when more than 500 Brazilian company heads, from most of the industrial agricultural sector, traveled to the Asian country.

More than 20 cooperation agreements have been signed, one of which allows their trade deals to be conducted directly, exchanging the yuan for the riyal and vice versa instead of relying on the dollar. Bilateral trade volume reached 150 billion dollars last year, with 89.7 billion dollars of Brazilian exports to China.

On his way back to the country, Lula will head to the UAE on Saturday for a one-day official visit.

Is the visit by Iran’s president to China a relation-repair opportunity or a bilateral strategic summit?

Is the visit by Iran’s president to China a relation-repair opportunity or a bilateral strategic summit?

    Monday, February 13, 2023   No comments

In December of 2022, the Chinese president made a visit to Saudi Arabia, and while meeting with representatives of other GCC members states and representatives of some Arab governments, Xi, out of courtesy, signed GCC statement issued at the conclusion of the gathering. The Chinese president also delivered a speech while attending the Arab-China summit.

The statement, however, contained language of support for the UAE in reaching a negotiated and peaceful solution to the issue of the three islands that Iran considers part of its territory, as well as calling on Iran to seriously engage in negotiations to return to the nuclear agreement.

In response to Xi’s endorsement of the statement, Tehran summoned the Chinese ambassador to Iran, to protest against the statement of the Gulf-Chinese summit, which touched on the status of the Abu Musa, Greater and Lesser Tunbs islands.

China responded immediately. The Chinese foreign ministry issued a clarification saying that the GCC countries and Iran are all China's friends, and neither China-GCC relations nor China-Iran relations are targeted at any third party, Chinese Foreign Ministry Spokesperson Wang Wenbin said in a press briefing. China supports the GCC countries in improving relations with Iran based on the principle of good-neighborly friendship, conducting win-win cooperation with Iran and jointly promoting the development and stability in the Persian Gulf. China is willing to continue to play a constructive role in this regard, Wang said.

China also sent its Vice Prime Minister Hu Chunhua to Tehran on December 13th to try and contain the situation. From there, Chunhua stressed that "China supports Iran's national sovereignty, territorial integrity and national honor, and combats foreign interference."

When the Vice Premier Hu Chunhua met with Raisi in Iranian capital Tehran during the same December visit, Raisi stressed that no matter how the international and regional landscapes change, Iran will remain firmly committed to deepening the comprehensive strategic partnership between the two countries.

On Sunday February12, 2023, the Chinese government announced that, at the invitation of Chinese President Xi Jinping, Iranian President Ebrahim Raisi will pay a state visit to China from Tuesday to Thursday. Later on the same day, the Iranian government confirmed the visit. IRNA, the official news agency of Iran, reported that delegations from both sides are due to sign "cooperation documents,” and that Raisi will also take part in meetings with Chinese businessmen and Iranians living in China.

Chinese media predict that Raisi’s visit will enhance the two countries relations, especially in the context of the major channels that connect the two countries. "Cooperation under the framework of the Belt and Road Initiative and the Shanghai Cooperation Organization will give China and Iran more space for cooperation. It is foreseeable that after this meeting, China-Iran relations will enter a new and higher stage," report the Chinese daily, GT.

Iran, Argentina’s applications to BRICS will further define this block of nations

Iran, Argentina’s applications to BRICS will further define this block of nations

    Tuesday, June 28, 2022   No comments

Will BRICS become BRICSAI soon?

Iran's application to the BRICS, following a similar move by  Argentina,  are now formal. BRICS nation must decide.

China, this year's BRICS' chairmanship, actively supports the mechanism's expansion. China wants like-minded countries to join BRICS, that made Iran a very strong candidate. 

China also wanted a representative government of Muslims, so it approached Pakistan, mostly given its location and its role in the Road and Belt Initiative. India objected to including Pakistan. This strengethened Iran's position even more. 

Now BRICS nations need to decide on specific rules that will govern the expansion of the block of nations.

Being the host country, China engaged with Pakistan prior to the BRICS meetings, where decisions are taken after consultations with all BRICS members, the foreign ministry statement said. 

"We do hope that future engagement of the organization would be based on the principles of inclusivity keeping in view the overall interests of the developing world and in a manner that is devoid of narrow geopolitical considerations," said the statement.

"Regrettably one member blocked Pakistan's participation," The Hindu reported on Monday, citing Pakistan's Foreign Office. 

Read the story as reported in Chinese media

Russian Foreign Minister Sergey Lavrov meets Iranian President Ibrahim Raisi: Russian President Vladimir Putin is counting on holding new meetings with Raisi

Russian Foreign Minister Sergey Lavrov meets Iranian President Ibrahim Raisi: Russian President Vladimir Putin is counting on holding new meetings with Raisi

    Friday, June 24, 2022   No comments

Russian Foreign Minister Sergei Lavrov said today, Wednesday, that Russian President Vladimir Putin is counting on holding new meetings with his Iranian counterpart, Ibrahim Raisi.

At the start of his meeting with the Iranian president in Tehran this evening, Lavrov said: "President Putin asked me to convey to you his warmest greetings and best wishes. He looks forward to new meetings with you."

He noted that the Russian president holds several meetings every day, and they are "primarily related to adapting the economic, social, banking and financial sphere to the realities that are now emerging as a result of the selfish and aggressive policy of the West."

"All countries that are negatively affected by the selfish approach of the United States and its orbiters have an objective need to reshape their economic relations in a way that does not depend on the whims and whims of our Western partners," Lavrov added.

This is Lavrov's first visit during the era of the new Iranian government that was formed last August. The Russian minister visited Tehran in April 2021 and held talks with his Iranian counterpart at the time, Mohammad Javad Zarif.

In related news; Iranian Foreign Minister Hossein Amir Abdollahian announced that President Ebrahim Raisi will participate in the BRICS summit, which will be held in China.

Amir Abdollahian wrote in a tweet on his Twitter account: "The BRICS group of countries promises their great potential and innovative vision to be an effective engine for global development and peace."

The Iranian minister added, "By accepting the invitation of the Chinese president to attend the BRICS Plus summit, Iranian President Ebrahim Raisi, during his participation in the summit, will explain Iran's views and capabilities," stressing that his country is taking advantage of any opportunity in the form of "dynamic diplomacy" to advance its national goals.

Yesterday, the Chinese Foreign Minister welcomed the Iranian President's attendance at the BRICS meeting, expressing his hope that the course of diplomacy and dialogue would lead to an agreement in the Vienna negotiations.

Iran's ambassador to Beijing, Mohammad Keshavarzzadeh, said that a phone call took place between the Foreign Minister and his Chinese counterpart, Wang Yi, indicating that the two sides discussed bilateral and international issues.

And the "BRICS" group saw the light of day in 2006, to form an international alliance in the face of Western domination of the world, and turned into an integrated political and economic group.

Its first summit was held on June 16, 2009, under the name "BRIC", in the Russian city of Yekaterinburg, with the participation of: Brazil, Russia, India and China first, then joined by South Africa in 2010, becoming the name of the International Alliance. BRICS, a word formed and derived from the initial letters of the name of each member state.

The population of the BRICS countries constitutes about 45% of the world's population, and the area of ​​its member states covers more than 39 million square kilometers, which is equivalent to 27% of the total land area.

The size of the BRICS economies exceeds the GDP of the Group of Seven major industrial countries (the United States, Britain, Germany, Japan, France, Canada and Italy).

According to Iranian media reports, Chinese President Xi Jinping as the host of BRICS Summit 2022, has invited President Rayeesi to attend the meeting and deliver a speech on Friday.

Rayeesi will discuss the Islamic Republic's viewpoints on international issues and the development of trade and economic cooperation with other countries at the event, which will be held on Friday.

The meeting will discuss "high-level talks for global development".  

Iran is the only country in West Asia region that has been invited to attend the BRICS+ summit.

BRICS expansion

China proposed expanding the BRICS grouping during a meeting of the bloc’s foreign ministers in May. Though the suggestion was welcomed by other member countries, there have been no official announcements of who the new members might be.

“We can get a sense of which countries might be invited by looking at their position on Ukraine and their voting behaviour regarding the conflict at the United Nations,” Huang said. “Those developing countries who abstained or supported Russia may be recruited to join.”