BRICS Says 59 Nations Plan to Join, New Financial System - De-Dollarization Priorities

BRICS Says 59 Nations Plan to Join, New Financial System - De-Dollarization Priorities

June 12, 2024

THE CURRENCY WAR - FOLLOW THE MONEY

Lena Petrova

The BRICS summit is scheduled to be held in the Kazan region of Russia in October 22-24, 2024. The 16th summit will see the attendance of four newly inducted countries the United Arab Emirates, Egypt, Iran, and Ethiopia. The nine-member alliance will decide the course of the bloc in the upcoming summit and commit to a stronger partnership.

BRICS aims to cut ties with the U.S. dollar and use local currencies for all cross-border transactions among member nations. The United States will be affected if BRICS ditches the dollar for trade. The move is attracting other developing countries to be a part of BRICS in 2024.

The attraction comes as it’s the only alliance that’s challenging the US dollar and giving importance to local currencies. Therefore, a handful of developing nations in Asia, Africa, Eastern Europe, and Latin America have expressed their interest in joining the BRICS bloc in 2024.

Anton Kobyakov, Russia’s presidential advisor confirmed in a latest press conference that 59 countries have expressed interest to join BRICS in 2024. He also added that apart from BRICS, many other countries have applied to join the Shanghai Cooperation Organization (SCO), and the Eurasian Economic Union (EAEU) in 2024.

“We have announced figures that are not commercially confidential,” he added. Kobyakov also explained that several countries are interested in the multipolar concept and want to stay away from the US dollar.

The advisor to Putin stressed that both BRICS and the SCO will be a power to reckon with in 2024. “We can safely say that the SCO is destined to become a new center of economic power in a changing world,” Kobyakov stressed. “Now most of the Earth’s inhabitants are with us,” he summed it up.

Original: https://youtu.be/v09dM3sCPeE

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