The BRICS nations are focusing on increasing their international roles and “enhancing coordination on key multilateral platforms,” Russia’s Minister of Foreign Affairs reportedly revealed after a meeting with BRICS ambassadors. He stressed “the need for joint efforts to counter destructive actions aimed at destroying the established security architecture.”
BRICS Seeks Expand Global Influence
Russia’s Minister of Foreign Affairs, Sergey Lavrov, stressed the need for joint efforts to counter Western countries’ “destructive actions” on Monday at a meeting with ambassadors from the BRICS countries, Russian news agency Tass reported. The BRICS nations consist of Brazil, Russia, India, China, and South Africa.
According to a statement released by the Russian Foreign Ministry at the conclusion of the meeting:
Lavrov stressed the need for joint efforts to counter destructive actions aimed at destroying the established security architecture, being undertaken in line with the Western countries’ neo-colonial policies.
During the meeting, the ambassadors discussed the development and strengthening of strategic partnerships within the BRICS framework, the statement details. “Current issues on the global agenda were examined with an emphasis on the inadmissibility of eroding the central role of the United Nations,” the Russian ministry explained, adding:
There was a general focus on increasing the international role of BRICS and enhancing coordination on key multilateral platforms.
Furthermore, Lavrov updated the BRICS ambassadors on the key points of Russia’s new Foreign Policy Concept, which highlights the desire for expanded interaction within the BRICS and a vision of a multipolar world order. The BRICS ambassadors then reaffirmed their commitment to a multipolar world order that is based on respect for international law and recognizes the sovereign right to choose one’s own path of development.
The Russian Foreign Ministry’s statement adds:
The growing interest was noted of a wide range of countries in cooperation with BRICS, which is now seen as the safeguard of true multilateralism.
The BRICS nations are reportedly working on creating a new form of currency, a topic that is expected to be discussed at the next leaders’ summit. “The transition to settlements in national currencies is the first step. The next one is to provide the circulation of digital or any other form of a fundamentally new currency in the nearest future,” said State Duma Deputy Chairman Alexander Babakov. Several other countries have expressed interest in joining the economic bloc, including Argentina, Iran, Indonesia, Turkey, Saudi Arabia, and Egypt. South Africa will host the next BRICS summit in August.
Many people believe that the introduction of a BRICS currency could jeopardize the USD’s status as the world’s reserve currency. Economist Jim Rickards said last week that the U.S. dollar’s greatest enemy as the world’s reserve currency is the Treasury which has weaponized the dollar and frozen the reserves of Russia’s central bank. Citing a similar reason, investment manager Larry Lepard predicted that the U.S. dollar could lose most of its value in five years.
What do you think about the BRICS nations seeking more influence and uniting against the U.S. dollar? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Read disclaimer