As BRICS leaders prepare to meet, they are reportedly discussing the creation of a new currency to reduce reliance on the US dollar and mitigate the risk of sanctions.
Digital Currency in Focus
The agenda includes exploring the feasibility of a digital currency to facilitate global trade and settlement while minimizing the threat of sanctions.
Expanding BRICS Membership
The BRICS group, comprising Brazil, Russia, India, China, and South Africa, has recently expanded to include Saudi Arabia, Iran, Ethiopia, Egypt, and the United Arab Emirates. Over 20 additional countries have expressed interest in joining.
Non-Discriminatory Guidelines
BRICS leaders are working on establishing non-discriminatory guidelines for adding new members that go beyond economic considerations.
