They plan to start by including five major emerging economies.
QUICK FACTS:
- China and Russia are combining forces to create an alternative and counterweight to the G7, according to media sources in Russia and Germany.
- Beijing and Moscow are looking to bring Brazil, India, and South Africa into their alliance, which would make up the group “BRICS.”
- The report from the Frankfurter Allgemeine Zeitung claimed that since Russia’s invasion of Ukraine promoted Western sanctions on the country, Russia has been attempting to expand the alliance.
- The Eastern European country has been targeting countries in Asia, Africa, and Latin America for diplomatic connections.
- The Russian Foreign Ministry announced that Argentian and Iran have also applied to join the group of nations.
MESSAGES FROM FOREIGN OFFICIALS ON BRICS:
- Russian Foreign Ministry Spokeswoman Maria Zakharova is reported to have said on her Telegram channel that this was formed “while the White House was thinking what to disconnect, ban or spoil in the world.”
- Also commenting on Telegram, Russian senator Aleksey Pushkov argued on Monday that “although BRICS doesn’t declare this, it is capable of becoming an alternative and even a counterweight to the G7 in the future as it unites the leading countries of the non-Western world.” Pushkov described Iran and Argentina’s bids as a “breakthrough, as this not only undermines the West’s efforts to isolate Russia, but also considerably expands the top economic-political organization of the non-Western world.”
- Chinese President Xi Jinping described BRICS In his address, as a counter-project and a “big family,” as opposed to the US-led alliances, which he branded “hegemonic, little circles.”
BACKGROUND:
- Some experts are said to believe that ten more nations could be in the process of applying to join BRICS in the future, including Mexico, Turkey, and Saudi Arabia.
- China is also reportedly ready to expand the group with officials from Beijing reportedly looking to invite Indonesia and Egypt to the organization
