BRICS News & Analysis

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Intra-BRICS trade is booming, driven by the expanded BRICS+ bloc (now including energy-rich nations like Iran, UAE, Saudi Arabia) and a strong push for de-dollarization, boosting local currency settlements and new payment systems like CIPS. Key themes include diversifying supply chains, enhancing South-South cooperation, developing local payment systems (NDB, CIPS), and fostering tech/industrial integration to reduce reliance on Western markets, with total intra-bloc trade already exceeding US$1 trillion and growing significantly. Navigate the BRICS business framework. Find news on economic cooperation, the New Development Bank, and joint investment projects. Essential for businesses leveraging the powerful BRICS economic bloc.

SCO-USD
Featured October 17, 2024

Calls For Shanghai Cooperation Organisation Independent Payments Mechanism: Implications For BRICS, SWIFT, US Dollar, Euro and British Pound

Readers will be familiar with discussions amongst the BRICS countries to establish a SWIFT alternative payments and settlements platform, however the concept is now spreading. Russia is calling for the removal of obstacles to the implementation of plans to increase the share of national currencies in mutual settlements between the Shanghai Cooperation Organization (SCO) countries […]

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October 16, 2024

Russia-Turkiye 2024 Relations: BRICS, Black Sea and US$100 Billion Trade Discussions

Russia’s Deputy Foreign Ministers Sergei Vershinin and Alexander Grushko met with Turkish Deputy Foreign Minister Mehmet Kemal Bozay in Moscow, for consultations to discuss the implementation of strategic economic and energy projects along with regional agenda items. The Russian Foreign Ministry has said that “The two parties had a substantive exchange of opinions on key […]

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October 15, 2024

Zimbabwe Academic Compares IMF With BRICS Bank

Kudzai Dominic Chiwenga, an associate professor at the University of Zimbabwe, has spoken about currency strategies and compared the World Banks ‘International Monetary Fund’ (IMF) with the BRICS New Development Bank (NDB). The NDB, he has said, provides more flexible and supportive terms than the IMF. Chiwenga, who is also the Chairman of the Zimbabwe-Russia […]

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Lavrov EAS
October 14, 2024

Russian Remarks At The Conclusion Of The East Asia Summit: Q&A and Analysis

Russia has been participating in the annual East Asia Summit in Vientiane, Laos, with Russian Foreign Minister Sergey Lavrov representing the Russian Federation. Other attendees included all the ASEAN nations (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam) together with Australia, Japan, South Korea, the European Union and the United States.  The […]

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Iran
October 13, 2024

Putin Meets With Iranian President Pezeshkian; Discusses Security, Trade and Strategic Partnership Agreement

Russian President Vladimir Putin met with his Iranian counterpart Masoud Pezeshkian in Ashgabat. Their first face-to-face meeting since Pezeshkian was elected President of Iran in July, although they had telephone conversations during this time. The talks come at a key time for Middle-Eastern relations, with Israel expanding its military aggression, Yemen attacking Western shipping in […]

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October 11, 2024

Russia – East Asia 2024 Multilateral Relations – Update

The Russian Foreign Minister, Sergey Lavrov, has been in Laos, attending meetings of the East Asia Summit, which included 18 partners, including Russia, being the United States, the European Union, Japan, Australia, South Korea, India and China, and the members of ASEAN. This also includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and […]

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BRICS Plus Cuba Flag
October 8, 2024

Cuba Applies To Join BRICS

October 25 Update: Cuba has now been granted ‘BRICS Partner’ status. See more here. The Cuban government has made an official request to join the BRICS bloc in a letter sent to Russian President Vladimir Putin, according to Carlos Pereira, the director general of bilateral affairs of the Cuban Foreign Ministry. He said that “Cuba […]

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BRICS Plus Syria Flag
October 8, 2024

Syria Negotiating To Join BRICS

Syria is negotiating to join BRICS, according to Bashar Jaafari, the Syrian ambassador to Russia. “We are very interested in joining BRICS and Syria is in serious negotiations to join.” he said at the “North Caucasus: New Geostrategic Opportunities” event held last week in Pyatigorsk.  The annual BRICS Heads of State meeting will be held […]

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