At the BRICS summit, Anil Suklal, who leads the South African delegation, noted growing interest from developed economies that are quietly exploring ties with BRICS. RBC reported this observation, highlighting a shift in the bloc’s appeal beyond traditional partners. Suklal emphasized that BRICS members are not hostile to Western powers and that their actions do not aim to oppose any specific bloc or region. This framing suggests an openness to collaboration that transcends simple blocs and reflects a more nuanced foreign policy stance.
While acknowledging the broader interest, Suklal steered away from naming potential partner nations, calling such discussions sensitive. The safety of diplomatic negotiations often requires discretion, he explained, even as curiosity within major economies about BRICS’ evolving role continues to build.
Earlier, Sergei Ryabkov, deputy minister of foreign affairs for the Russian Federation, outlined BRICS’ agenda on currency issues. He stated that member states aim to increase the use of national currencies in intra-BRICS trade, a move that would reduce dependence on any single international currency and reinforce financial sovereignty among members. He also announced that five new countries would join BRICS starting January 1, 2024: Egypt, Saudi Arabia, Iran, Ethiopia, and the United Arab Emirates.
Ryabkov underscored that the expanded BRICS group is positioned to contribute to a multipolar system of international relations. Beyond economic cooperation, the bloc envisions a more balanced global order, where diverse regional voices help shape policies and priorities on trade, development, and security. This perspective aligns BRICS with broader discussions about recalibrating influence in global governance.
Concurrently, the Central Bank of the Russian Federation signaled a notable increase in BRICS-related settlements conducted in national currencies. The move aims to bolster monetary independence within the bloc, promote financial stability, and facilitate smoother, faster trade among BRICS members. This shift reflects a broader trend toward currency diversification in international commerce and signals BRICS’ willingness to reduce reliance on the dollar for regional transactions. — RBC