BRICS Summit

Leaders of the BRICS bloc have sharply rebuked the United States and Israeli bombardments of Iran in June, calling them a “blatant breach of international law” while voicing strong support for the creation of a Palestinian state. But their joint declaration on Sunday, issued at the end of a summit in the Brazilian city of Rio de Janeiro, was largely silent about another major war that is now in its fourth year and in which a founding BRICS member – Russia – is the aggressor: the conflict in Ukraine. Instead, it criticised Ukrainian ...

The Chinese Foreign Ministry commented on Monday on United States President Donald Trump imposing a 10% tariff on countries aligned with the BRICS group, stating that it opposes the use of tariffs "as a tool to coerce others." BRICS includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. The ministry repeated that restrictive trade measures "serve no one" and that "there are no winners in a trade war." In his announcement, Trump described BRICS policies as "anti-American" ...

Leaders of the BRICS bloc have sharply rebuked the United States and Israeli bombardments of Iran in June, calling them a “blatant breach of international law” while voicing strong support for the creation of a Palestinian state. But their joint declaration on Sunday, issued at the end of a summit in the Brazilian city of Rio de Janeiro, was largely silent about another major war that is now in its fourth year and in which a founding BRICS member – Russia – is the aggressor: the conflict in Ukraine. Instead, it criticised Ukrainian ...

The BRICS bloc of developing nations on Sunday condemned the increase of tariffs and attacks on Iran, but refrained from naming U.S. President Donald Trump. The group’s declaration, which also took aim at Israel’s military actions in the Middle East, mentioned war-torn Ukraine just once. China’s President Xi Jinping did not attend a BRICS summit for the first time since he became his country’s leader in 2012. Russian President Vladimir Putin, who will make an appearance via videoconference, continues to mostly avoid traveling abroad ...

The meeting in Kazan of the Brics-plus group from 22-24 October was a diplomatic and political success for President Vladimir Putin. He was lucky that it was Russia’s turn as chair. However, it disappointed by offering nothing new in economics and finance, and it failed to take any new steps towards de-dollarisation. Expectations were high. A new cross-border payments system and even a common Brics currency were on the table, with rumours of a petroyuan being established to replace the petrodollar. Russian government officials ...

It's an outcome that alternative economists have long predicted as inevitable - The dumping of the US dollar as the world reserve currency and the petro currency by the BRICS nations in favor of a new multi-currency system or "basket system." For decades the dollar has reigned supreme as the most favored currency for international trade, replacing the British Pound Sterling (officially) after the Bretton Woods Agreement in 1944. This status (along with the end of the gold standard) gave the Federal Reserve Bank the power to print ...

Russian President Vladimir Putin said he was "open" to better relations with the US — if Washington was willing too — as he wrapped up the three-day BRICS summit in Kazan on Friday. "How Russian-American relations will develop after the election will depend on the United States. If they are open, then we will also be open. And if they don't want it, then fine," Putin told reporters at a news conference. Relations between Russia and the US have dipped to a low point following Russia's invasion of Ukraine in 2022. Last month, the US ...

The meeting in Kazan of the Brics-plus group from 22-24 October was a diplomatic and political success for President Vladimir Putin. He was lucky that it was Russia’s turn as chair. However, it disappointed by offering nothing new in economics and finance, and it failed to take any new steps towards de-dollarisation. Expectations were high. A new cross-border payments system and even a common Brics currency were on the table, with rumours of a petroyuan being established to replace the petrodollar. Russian government officials ...

China and Russia are committed to boosting their cooperation for a “fair world order” amid chaotic times, according to their leaders speaking in a face-to-face meeting on October 22, 2024. The talks between Chinese President Xi Jinping and his Russian counterpart Vladimir Putin took place on the sidelines of the 16th Brics summit in Kazan, Russia. Moscow and Beijing reportedly hope to build momentum among the emerging economies in the bloc to provide an alternative to the Western-led world order. Brics is named for five major ...

The meeting in Kazan of the Brics-plus group from 22-24 October was a diplomatic and political success for President Vladimir Putin. He was lucky that it was Russia’s turn as chair. However, it disappointed by offering nothing new in economics and finance, and it failed to take any new steps towards de-dollarisation. Expectations were high. A new cross-border payments system and even a common Brics currency were on the table, with rumours of a petroyuan being established to replace the petrodollar. Russian government officials ...