South Africa will be hosting the key summit later this month and the Indian Ministry of External Affairs has confirmed that Prime Minister Narendra Modi will be attending the summit in-person in Johannesburg. The key focus on this summit becomes PM Modi and Chinese President Xi Jinping's meeting.

BRICS Summit: Xi & Modi to meet, will the leaders break ice on border issue? | World News | WION

South African President Cyril Ramaphosa confirms Indian Prime Minister Narendra Modi's presence at the BRICS summit. The meet, which will be held august end, in Johannesburg, will see PM Modi and Chinese President Xi Jinping come together in the same room. Will there be a thaw in the currently frosty Indo-China ties?

In focus: India and China come face to face at the BRICS summit

BRICS Summit: PM Modi to travel to Johannesburg for summit; Why is it important for India?

Indian Prime Minister will attend The BRICS Summit in person in South Africa later this month. This was of course revealed after he held a telephonic conversation with the South African president Cyril Ramaphosa. President Ramaphosa invited the Indian Prime Minister to attend The Summit in Johannesburg which is scheduled for the 23rd of the 24th of August.

Indian PM Modi to attend BRICS Summit in South Africa

Russia reaches out to its long-standing partners. Russia’s space agency has extended an offer to the BRICS. The BRICS has been offered to participate in the construction of a joint module for its planned orbital space station. While Russia is keeping an eye on major contributions from China & India.

Russia proposes a strange offer to BRICS nations, makes a special room for China and India

The South African opposition has countries including India and China abstain from BRICS Summit next month.

South African opposition urges BRICS nations to boycott summit

The NSA meeting of the BRICS group of emerging economies will be held in Johannesburg from August 22 to 24, and among the topics on the summit's agenda this year are the dollarization and expansion of the forum in addition to ensuring the security of foreign energy sources. Indian NSA Doval has made his appearance to the meet.

BRICS NSA meet: Wang Yi calls for concrete policies to improve India-China relations

BRICS NSAs meet: India-China explore security co-operation

More than 40 nations have indicated an interest in joining the BRICS bloc of major developing economies as it seeks to expand to grow its political clout, South Africa’s ambassador to the group said.

BRICS expansion plan draws interest from more than 40 nations

According to South Africa's way to the BRICS group, more than 40 countries have shown interest in joining the block which is likely to increase the organization's political influence as a whole of course. In 2009, Brazil, Russia, India and China founded the BRICS and in 2010 South Africa joined this group. In 2018, South Africa made a proposal for the expansion of BRICS however negotiations started only last year.

BRICS expansion plans draw solid interest

<p>South Africa's envoy to the BRICS recently announced that more than 40 countries have expressed their interest in joining the bloc, potentially bolstering the organization's overall political influence.</p>

<p>The BRICS group was established in 2009, comprising Brazil, Russia, India, and China, with South Africa joining in 2010. In 2018, South Africa proposed the expansion of BRICS, but formal negotiations began only last year. The growing interest from numerous nations signals the potential for increased collaboration and partnership within the bloc, potentially amplifying its significance in global affairs.</p>

<p>Anil Sooklal, South Africa's ambassador to the BRICS group, spoke with journalists in Johannesburg on Thursday, revealing that numerous countries have expressed interest in joining the bloc. He stated, "This knocking on the door is nothing new. Twenty-two countries have formally approached BRICS, and an equal number of informal approaches have been received about joining."</p>

<p>The BRICS group, formed to counterbalance the influence of advanced economies, has also established its own international financing organization. Despite BRICS members making up 42 percent of the global population, they only have 15 percent of the voting power at the World Bank and the IMF.</p>

<p>South Africa is set to host the upcoming BRICS conference next month, and in a bid to make it a truly global event, the country has extended invitations to 69 world leaders.</p>

<p>However, the expansion of the BRICS group is not without challenges. While China and South Africa are supportive of growth, Russia is expected to align as well. On the other hand, Brazil and India are expressing concerns about potential declines in their power and may resist such expansion, according to the Eurasia Group's observation.</p>

<p>Anil Sooklal, South Africa's ambassador to the BRICS group, disclosed that several countries have already expressed their interest in joining. Among them are Argentina, Bangladesh, the UAE, Iran, and Saudi Arabia. Additionally, some European nations have also shown interest in becoming part of the influential bloc. As the conference approaches, discussions about the group's expansion and the dynamics of its membership are expected to be key topics on the agenda.<br />
&nbsp;</p>


South Africa's envoy to the BRICS recently announced that more than 40 countries have expressed their interest in joining the bloc, potentially bolstering the organization's overall political influence.

South Africa's envoy to the BRICS recently announced that more than 40 countries have expressed their interest in joining the bloc, potentially bolstering the organization's overall political influence. The BRICS group was established in 2009, comprising Brazil, Russia, India, and China, with South Africa joining in 2010. In 2018, South Africa proposed the expansion of BRICS, but formal negotiations began only last year. The growing interest from numerous nations signals the potential for increased collaboration and partnership within the bloc, potentially amplifying its significance in global affairs. Anil Sooklal, South Africa's ambassador to the BRICS group, spoke with journalists in Johannesburg on Thursday, revealing that numerous countries have expressed interest in joining the bloc. He stated, "This knocking on the door is nothing new. Twenty-two countries have formally approached BRICS, and an equal number of informal approaches have been received about joining." The BRICS group, formed to counterbalance the influence of advanced economies, has also established its own international financing organization. Despite BRICS members making up 42 percent of the global population, they only have 15 percent of the voting power at the World Bank and the IMF. South Africa is set to host the upcoming BRICS conference next month, and in a bid to make it a truly global event, the country has extended invitations to 69 world leaders. However, the expansion of the BRICS group is not without challenges. While China and South Africa are supportive of growth, Russia is expected to align as well. On the other hand, Brazil and India are expressing concerns about potential declines in their power and may resist such expansion, according to the Eurasia Group's observation. Anil Sooklal, South Africa's ambassador to the BRICS group, disclosed that several countries have already expressed their interest in joining. Among them are Argentina, Bangladesh, the UAE, Iran, and Saudi Arabia. Additionally, some European nations have also shown interest in becoming part of the influential bloc. As the conference approaches, discussions about the group's expansion and the dynamics of its membership are expected to be key topics on the agenda.

Over 40 countries interested to join BRICS amid plans to expand grouping

More than 40 countries have expressed interest in joining the BRICS group of nations. South Africa's top diplomat in charge of relations with the bloc said on Thursday. Watch this video for all details.

Why are more than 40 nations interested in joining BRICS?

Here we bring you a quick round-up of all the latest news and top headlines from all across the globe: Donald Trump said he received a letter from prosecutors suggesting he is likely to be criminally indicted over the January 6 riot at the US Capitol. South Africa is set to host the BRICS summit next month but there's a catch. Democratic Alliance which is the country's key opposition party has filed an application in the court seeking Russian President Vladimir Putin's arrest.

Trump says he's a target in election probe | BRICS summit next week

The BRICS summit will take place in South Africa next month, but there is a catch. The Democratic Alliance, the country's major opposition party, has urged that Vladimir Putin be arrested if he plans to attend the Summit in Johannesburg later this month. This arrest is related to war crimes, according to the International Criminal Court. To know more watch this interview with Foreign Policy Analyst and Senior Fellow at John Hopkins University, Edward P Joseph.

South Africa is obligated to arrest Putin as per International Law

The BRICS summit will take place in South Africa next month, but there is a catch. The Democratic Alliance, the country's major opposition party, has urged that Vladimir Putin be arrested if he plans to attend the Summit in Johannesburg later this month. This arrest is related to war crimes, according to the International Criminal Court.

South Africa President: Arresting Putin will be a declaration of war

South Africa is set to host the BRICS summit next month but there's a catch. Democratic Alliance which is the country's key opposition party has filed an application in the court seeking Russian President Vladimir Putin's arrest that is if he plans to attend The Summit in Johannesburg next month. This arrest is for war crimes as per the International Criminal Court.

South Africa's Democratic Alliance files an application in court to arrest Putin

Here, we bring you a quick round-up of all the latest news and top headlines from all across the globe: The country's presidency has confirmed that the president of Russia won't be present at a summit in South Africa next month. The declaration of war on Russia follows the leader of South Africa's statement that any attempt to detain Vladimir Putin would constitute a declaration of war.

Russian President Putin to skip BRICS Summit in South Africa

<p>As anticipation builds for the upcoming BRICS summit in August, the South African chairmanship of the grouping will be hosting a crucial Foreign Ministers' meeting on Thursday. The virtual gathering aims to discuss the expansion of the influential economic grouping, with as many as 19 countries expressing interest in joining, from Argentina to Iran, Saudi Arabia to Egypt.&nbsp;</p>

<p>The BRICS (Brazil, Russia, India, China, and South Africa) bloc, known for its collective economic might and geopolitical influence, has been eyeing potential new members to strengthen its global standing. The discussion on expansion was the focal point of the BRICS sherpas meeting earlier this month, which laid the groundwork for the ministers' current deliberations.&nbsp;</p>

<p>However, the big question remains if Chinese Foreign Minister Qin Gang will be present at the meeting, given he has been missing for some weeks now. The minister was missing at the key ASEAN meetings in Indonesia. During Qin Gang's unexplained absence, Wang Yi, the director of the Chinese Communist Party Central Committee Foreign Affairs Commission Office, represented China at the ASEAN meetings. Nevertheless, his absence from critical diplomatic engagements has sparked curiosity and concern among analysts and the international community alike.&nbsp;</p>

<p>The uncertainty surrounding Qin Gang's attendance at the BRICS Foreign Ministers' meeting only adds to the intrigue. The Chinese Foreign Minister's participation is crucial for addressing key issues facing the grouping, including China's stance on expanding the group and its role in shaping the future of the BRICS.&nbsp;</p>

<p>The meeting comes after the first in-person gathering of the BRICS Foreign Ministers in June, held in Cape Town, where important discussions laid the groundwork for the forthcoming summit. With only weeks remaining until the highly anticipated August summit, the ministers are expected to solidify the agenda for the leaders.&nbsp;</p>

<p>As the chair of the BRICS, South Africa's responsibility extends beyond hosting the meeting. It is expected to play a pivotal role in steering discussions towards fruitful outcomes. Questions also remain on if Russian President Putin attends the summit in person since the International Criminal Court has issued an arrest warrant against him.&nbsp;</p>

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As anticipation builds for the upcoming BRICS summit in August, the South African chairmanship of the grouping will be hosting a crucial Foreign Ministers' meeting on Thursday.

As anticipation builds for the upcoming BRICS summit in August, the South African chairmanship of the grouping will be hosting a crucial Foreign Ministers' meeting on Thursday. The virtual gathering aims to discuss the expansion of the influential economic grouping, with as many as 19 countries expressing interest in joining, from Argentina to Iran, Saudi Arabia to Egypt. The BRICS (Brazil, Russia, India, China, and South Africa) bloc, known for its collective economic might and geopolitical influence, has been eyeing potential new members to strengthen its global standing. The discussion on expansion was the focal point of the BRICS sherpas meeting earlier this month, which laid the groundwork for the ministers' current deliberations. However, the big question remains if Chinese Foreign Minister Qin Gang will be present at the meeting, given he has been missing for some weeks now. The minister was missing at the key ASEAN meetings in Indonesia. During Qin Gang's unexplained absence, Wang Yi, the director of the Chinese Communist Party Central Committee Foreign Affairs Commission Office, represented China at the ASEAN meetings. Nevertheless, his absence from critical diplomatic engagements has sparked curiosity and concern among analysts and the international community alike. The uncertainty surrounding Qin Gang's attendance at the BRICS Foreign Ministers' meeting only adds to the intrigue. The Chinese Foreign Minister's participation is crucial for addressing key issues facing the grouping, including China's stance on expanding the group and its role in shaping the future of the BRICS. The meeting comes after the first in-person gathering of the BRICS Foreign Ministers in June, held in Cape Town, where important discussions laid the groundwork for the forthcoming summit. With only weeks remaining until the highly anticipated August summit, the ministers are expected to solidify the agenda for the leaders. As the chair of the BRICS, South Africa's responsibility extends beyond hosting the meeting. It is expected to play a pivotal role in steering discussions towards fruitful outcomes. Questions also remain on if Russian President Putin attends the summit in person since the International Criminal Court has issued an arrest warrant against him. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

With focus on expansion, BRICS foreign ministers to meet on Thursday

South Africa is facing a big dilemma as it braces to host the upcoming BRICS summit... If vladimir putin attends the summit in person, South Africa will be obligated to arrest him as soon as he steps foot on South African soil – as the international criminal court has found him guilty of war crimes. President Ramaphosa said that arresting Putin would be a declaration of war on Moscow. If South Africa arrests him, they will have a major fallout with Russia. If south africa does not arrest him, they will be in violation of the ICC norms. What will South Africa do?

Will South Africa arrest Putin at the BRICS Summit in Johannesburg?

An arrest warrant for the Russian leader from the International Criminal Court has created a diplomatic quandary ahead of an August summit. South African Deputy President, Paul Mashatile says it is a "big dilemma" for them as a nation. The ICC has accused President Vladimir Putin of war crimes over his role in the abduction and deportation of Ukrainian children. WION's Eric Njoka speaks to the former spokesman for Putin and an Ex-MP in Russia, Dr Sergey Markov.

South Africa grapples with Putin’s plan to attend BRICS

<p>The upcoming BRICS summit will be an in-person summit despite an arrest warrant against Russian President Vladimir Putin from the International Criminal Court.&nbsp;</p>

<p>South African President Cyril Ramaphosa clarified on Sunday that next month's BRICS summit, which Vladimir Putin has been invited to, will not be a virtual summit.&nbsp;</p>

<p>"The BRICS summit is going ahead and we are finalising our discussions on the format," Ramaphosa told journalists, adding that it will be&nbsp;a "physical" meeting.</p>

<p>Ramaphosa, however,&nbsp;did not say if Putin, wanted by the International Criminal Court (ICC) over accusations that Russia unlawfully deported Ukrainian children, would attend the BRICS summit or not.</p>

<p>"We are going to have a physical BRICS summit, all of us are committed to having a summit where we will be able to eyeball each other," he said in response to a question.</p>

<p>"We have not held a physical summit for...almost three years. It's not going to be virtual," he stressed.</p>

<p>As a member of the ICC, South Africa would be expected to arrest Putin if he sets foot in the country.</p>

<h2><strong>BRICS South Africa summit: Accusations against Putin</strong></h2>

<p>According to accusations put forth by Ukraine, more than 16,000 Ukrainian children have been deported to Russia since the start of the Russia-Ukraine war in February 2022. Ukraine has alleged that many of these children have been placed in institutions and foster homes.</p>

<p>Russia has denied these accusations. Since Russia is not a member of the ICC, the country deems the warrant "void".</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/world/explained-will-putin-be-arrested-heres-what-happened-to-earlier-icc-arrest-warrant-599686">Explained: Will Putin be arrested? Here's what happens to the ICC arrest warrant</a></strong></p>

<p>Earlier, the South African foreign ministry had&nbsp;announced that as per its "standard" practice, it will grant immunity to the participants of the BRICS summit.</p>

<p>"These immunities do not override any warrant&nbsp;that may have been issued by any international tribunal against any attendee of the conference,"&nbsp;Clayson Monyela, spokesperson of South Africa's international relations department said.</p>

<p>South Africa's foreign minister Naledi Pandor had stated earlier that the country was mulling options.</p>

<p>"Our government is currently looking at what the legal options are with respect to this matter and I've indicated ... that it is something the president will be the best person to speak about (this) once it has reached a conclusion," said Pandor while talking to reporters on the sidelines of a BRICS foreign ministers meeting in Cape Town in June 2023.</p>

<p><strong>Also watch |&nbsp;Putin: Thousands continue to join army; Russia mobilises 318,000 recruits</strong></p>

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<p>The Kremlin has not yet confirmed if the Russian president, who has largely avoided international travel since the beginning of the war in Ukraine, will attend the summit in person.&nbsp;</p>

<p>Kremlin spokesperson Dmitry Peskov has, however, clarified&nbsp;that the country would "take part in this summit at the proper level".</p>

<p><em>(With inputs from agencies)</em></p>

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The upcoming BRICS summit will be an in-person summit despite an arrest warrant against Russian President Vladimir Putin from the International Criminal Court. South African President Cyril Ramaphosa clarified on Sunday that next month's BRICS summit, which Vladimir Putin has been invited to, will not be a virtual summit.

The upcoming BRICS summit will be an in-person summit despite an arrest warrant against Russian President Vladimir Putin from the International Criminal Court. South African President Cyril Ramaphosa clarified on Sunday that next month's BRICS summit, which Vladimir Putin has been invited to, will not be a virtual summit. "The BRICS summit is going ahead and we are finalising our discussions on the format," Ramaphosa told journalists, adding that it will be a "physical" meeting. Ramaphosa, however, did not say if Putin, wanted by the International Criminal Court (ICC) over accusations that Russia unlawfully deported Ukrainian children, would attend the BRICS summit or not. "We are going to have a physical BRICS summit, all of us are committed to having a summit where we will be able to eyeball each other," he said in response to a question. "We have not held a physical summit for...almost three years. It's not going to be virtual," he stressed. As a member of the ICC, South Africa would be expected to arrest Putin if he sets foot in the country. BRICS South Africa summit: Accusations against Putin According to accusations put forth by Ukraine, more than 16,000 Ukrainian children have been deported to Russia since the start of the Russia-Ukraine war in February 2022. Ukraine has alleged that many of these children have been placed in institutions and foster homes. Russia has denied these accusations. Since Russia is not a member of the ICC, the country deems the warrant "void". Also read | Explained: Will Putin be arrested? Here's what happens to the ICC arrest warrant Earlier, the South African foreign ministry had announced that as per its "standard" practice, it will grant immunity to the participants of the BRICS summit. "These immunities do not override any warrant that may have been issued by any international tribunal against any attendee of the conference," Clayson Monyela, spokesperson of South Africa's international relations department said. South Africa's foreign minister Naledi Pandor had stated earlier that the country was mulling options. "Our government is currently looking at what the legal options are with respect to this matter and I've indicated ... that it is something the president will be the best person to speak about (this) once it has reached a conclusion," said Pandor while talking to reporters on the sidelines of a BRICS foreign ministers meeting in Cape Town in June 2023. Also watch | Putin: Thousands continue to join army; Russia mobilises 318,000 recruits × The Kremlin has not yet confirmed if the Russian president, who has largely avoided international travel since the beginning of the war in Ukraine, will attend the summit in person. Kremlin spokesperson Dmitry Peskov has, however, clarified that the country would "take part in this summit at the proper level". (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Putin potential arrest row: South Africa to go ahead with 'in-person' BRICS summit

South African President Cyril Ramaphosa confirmed that the BRICS summit will be held in person. It is unclear whether Russian President Vladimir Putin will attend the summit or not. The International Criminal Court has issued an arrest warrant against Putin for unlawfully deporting Ukrainian children in violation of international conventions.

South Africa to hold in-person BRICS summit, uncertainty over Putin's attendance

<p>The de-dollarisation, the movement to reduce other countries' reliance on the greenback, among the emerging economies of the BRICS economic group is yet to reach a 'common currency' breakthrough. The de-dollarisation movement, however, is currently morphing into a growing number of countries ditching the dollar&nbsp;and choosing to trade in their own currencies instead.</p>

<p>But despite an official clarification, the Russian embassy in Kenya said in a tweet, "The BRICS countries are planning to introduce a new trading currency, which will be backed by gold."&nbsp;</p>

<p>Earlier this week, however, the New Development Bank, a financial institution created by the BRICS bloc, said in an official statement that it doesn’t have any immediate plans for a common currency.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/business-economy/brics-common-currency-soon-india-china-step-up-to-counter-us-dollars-dominance-578660">BRICS common currency soon? India, China step up to counter US dollar's dominance</a></strong></p>

<p>Instead, the members of BRICS – Brazil, Russia, India, China and South Africa – are pushing to conduct more bilateral trade in local currencies. they aren’t ready to challenge the global dominance of the dollar.</p>

<p>"The development of anything alternative is more a medium&nbsp;to long-term ambition," Leslie Maasdorp, Vice-President and Chief Financial Officer of the New Development Bank, told Bloomberg. "There is no suggestion right now to create a BRICS currency."</p>

<p>Prior to the BRICS virtual summit, India's foreign minister Dr S Jaishankar said that "there is no idea of a BRICS currency."</p>

<p>"Currencies will remain a national issue for a long time to come," Jaishankar added.</p>

<p>The bloc, which was formed in 2009, has been striving to gain more clout globally as a way of counterbalancing the dominance the US and its traditional allies have in multilateral financial institutions such as the World Bank and the International Monetary Fund.&nbsp;</p>

<p>Still, even the Chinese Renminbi "is a very long way from becoming a reserve currency," Maasdorp said.</p>

<h2><strong>BRICS Bank's focus on expanding its financial clout</strong></h2>

<p>According to reports, a key part of the Shanghai-based New Development Bank is to expand its financial clout with a focus on $50 billion in subscribed capital.&nbsp;</p>

<p>“The intention has always been to create a global bank anchored in emerging markets,” Maasdorp said.</p>

<p>He further said that the bank aims to direct 40 per cent of lending to climate-related projects.</p>

<h2><strong>New BRICS members</strong></h2>

<p>A total of 19 countries, with 13 formal requests and approximately 5 or 6 informal queries, <a href="https://www.wionews.com/world/key-brics-meet-this-week-to-discuss-expansion-611155">have approached</a> BRICS leaders for becoming full members of the BRICS forum.&nbsp;</p>

<p>In an interview with WION, South Africa's foreign minister Naledi Pandor, disclosed that a number of countries, including Saudi Arabia, the United Arab Emirates, Egypt, Algeria, Argentina, Mexico, and Nigeria, have expressed keen interest in joining BRICS.&nbsp;</p>

<p>The recent BRICS Foreign Ministers’ meeting in Cape Town saw several African countries, Iran, Saudi Arabia, and the UAE attend the "Friends of BRICS" gathering.</p>

<p>The upcoming BRICS summit in South Africa is expected to see multiple inclusions, possibly of Saudi Arabia and Iran, into a crucial multilateral grouping, significantly elevating its economic heft and simultaneous geopolitical clout.</p>

<h2><strong>Brazil's Lula chief supporter of common BRICS currency</strong></h2>

<p>Brazil's President Luiz Inácio Lula da Silva has vocally challenged the supremacy of the US dollar in recent months.&nbsp;</p>

<p>Recently, in a show of support from a fellow BRICS partner, Brazil's President Lula, while standing alongside his South African counterpart Cyril Ramaphosa, challenged the US dollar's role as the world's primary reserve currency for global trade.</p>

<p><strong>Also watch |&nbsp;Brazilian President Lula da Silva wants a BRICS currency</strong></p>

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<p>Ramaphosa, while seconding Lula's comment, said that the "issue of currency" would be discussed at the upcoming meeting of BRICS countries later this year, which South Africa is scheduled to host in August.</p>

<h2><strong>Russia’s interest in a common BRICS currency</strong></h2>

<p>Since the beginning of the war in Ukraine, Moscow has ramped up its efforts to promote de-dollarisation. Immediately after President Vladimir Putin announced 'special military operations' against Ukraine, Washington froze half of Russia's foreign currency reserves and banned its biggest banks from the SWIFT international payments system.</p>

<p>Since February 2022, Russia has been pushing for de-dollarisation in consonance with China and nations deemed neutral in the wake of the ongoing Ukraine war.</p>

<p>Alexander Babakov, the deputy chairman of Russian parliament, the State Duma, while speaking at the St. Petersburg International Economic Forum event in New Delhi, India, in April 203 had said that the plan is to initially transition to using domestic currencies in transactions.&nbsp;</p>

<p>Following this, the introduction and circulation of a digital or an alternative form of currency could be explored.&nbsp;</p>

<p>Brazil, Russia, India and China established BRIC in 2009 and the bloc became BRICS a year later when South Africa was admitted.&nbsp;</p>

<p>If it expands to include other "emerging nations with persistent surpluses," a globally fairer, multi-currency global system could emerge, O’Neill said.&nbsp;</p>

<p>The bloc&nbsp;represents about 26.7 per cent of the world's land surface and 41.5 per cent of the global population.<br />
<br />
The BRICS countries hold a substantial 16 per cent share in world trade and over the years, they have played a vital role as engines of global economic growth.</p>

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The de-dollarisation, the movement to reduce other countries' reliance on the greenback, among the emerging economies of the BRICS economic group is yet to reach a 'common currency' breakthrough.

The de-dollarisation, the movement to reduce other countries' reliance on the greenback, among the emerging economies of the BRICS economic group is yet to reach a 'common currency' breakthrough. The de-dollarisation movement, however, is currently morphing into a growing number of countries ditching the dollar and choosing to trade in their own currencies instead. But despite an official clarification, the Russian embassy in Kenya said in a tweet, "The BRICS countries are planning to introduce a new trading currency, which will be backed by gold." Earlier this week, however, the New Development Bank, a financial institution created by the BRICS bloc, said in an official statement that it doesn’t have any immediate plans for a common currency. Also read | BRICS common currency soon? India, China step up to counter US dollar's dominance Instead, the members of BRICS – Brazil, Russia, India, China and South Africa – are pushing to conduct more bilateral trade in local currencies. they aren’t ready to challenge the global dominance of the dollar. "The development of anything alternative is more a medium to long-term ambition," Leslie Maasdorp, Vice-President and Chief Financial Officer of the New Development Bank, told Bloomberg. "There is no suggestion right now to create a BRICS currency." Prior to the BRICS virtual summit, India's foreign minister Dr S Jaishankar said that "there is no idea of a BRICS currency." "Currencies will remain a national issue for a long time to come," Jaishankar added. The bloc, which was formed in 2009, has been striving to gain more clout globally as a way of counterbalancing the dominance the US and its traditional allies have in multilateral financial institutions such as the World Bank and the International Monetary Fund. Still, even the Chinese Renminbi "is a very long way from becoming a reserve currency," Maasdorp said. BRICS Bank's focus on expanding its financial clout According to reports, a key part of the Shanghai-based New Development Bank is to expand its financial clout with a focus on $50 billion in subscribed capital. “The intention has always been to create a global bank anchored in emerging markets,” Maasdorp said. He further said that the bank aims to direct 40 per cent of lending to climate-related projects. New BRICS members A total of 19 countries, with 13 formal requests and approximately 5 or 6 informal queries, have approached BRICS leaders for becoming full members of the BRICS forum. In an interview with WION, South Africa's foreign minister Naledi Pandor, disclosed that a number of countries, including Saudi Arabia, the United Arab Emirates, Egypt, Algeria, Argentina, Mexico, and Nigeria, have expressed keen interest in joining BRICS. The recent BRICS Foreign Ministers’ meeting in Cape Town saw several African countries, Iran, Saudi Arabia, and the UAE attend the "Friends of BRICS" gathering. The upcoming BRICS summit in South Africa is expected to see multiple inclusions, possibly of Saudi Arabia and Iran, into a crucial multilateral grouping, significantly elevating its economic heft and simultaneous geopolitical clout. Brazil's Lula chief supporter of common BRICS currency Brazil's President Luiz Inácio Lula da Silva has vocally challenged the supremacy of the US dollar in recent months. Recently, in a show of support from a fellow BRICS partner, Brazil's President Lula, while standing alongside his South African counterpart Cyril Ramaphosa, challenged the US dollar's role as the world's primary reserve currency for global trade. Also watch | Brazilian President Lula da Silva wants a BRICS currency × Ramaphosa, while seconding Lula's comment, said that the "issue of currency" would be discussed at the upcoming meeting of BRICS countries later this year, which South Africa is scheduled to host in August. Russia’s interest in a common BRICS currency Since the beginning of the war in Ukraine, Moscow has ramped up its efforts to promote de-dollarisation. Immediately after President Vladimir Putin announced 'special military operations' against Ukraine, Washington froze half of Russia's foreign currency reserves and banned its biggest banks from the SWIFT international payments system. Since February 2022, Russia has been pushing for de-dollarisation in consonance with China and nations deemed neutral in the wake of the ongoing Ukraine war. Alexander Babakov, the deputy chairman of Russian parliament, the State Duma, while speaking at the St. Petersburg International Economic Forum event in New Delhi, India, in April 203 had said that the plan is to initially transition to using domestic currencies in transactions. Following this, the introduction and circulation of a digital or an alternative form of currency could be explored. Brazil, Russia, India and China established BRIC in 2009 and the bloc became BRICS a year later when South Africa was admitted. If it expands to include other "emerging nations with persistent surpluses," a globally fairer, multi-currency global system could emerge, O’Neill said. The bloc represents about 26.7 per cent of the world's land surface and 41.5 per cent of the global population. The BRICS countries hold a substantial 16 per cent share in world trade and over the years, they have played a vital role as engines of global economic growth. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Explained | Spotlight on potential BRICS currency as pushback against US dollar grows

South Africa is hosting the BRICS Sherpa meeting from July 4th to July 6th in Durban, with the expansion of the grouping as a key agenda.

South Africa to host BRICS Sherpa meeting with expansion as the agenda

<p>South Africa, as the current President of&nbsp;BRICS, is set to host a significant meeting this week with the expansion of the grouping as a key agenda.</p>

<p>The BRICS Sherpa meeting, scheduled to take place from July 4th to 6th in Durban, will focus on finalising the expansion document to be considered by the foreign ministers and the leaders.</p>

<p>During the meeting, the member countries will collaborate on establishing guidelines, procedures, and criteria for the expansion of&nbsp;BRICS.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/business-economy/brazils-president-lula-assents-to-common-brics-currency-to-counter-us-dollars-dominance-582289">Brazil's President Lula seeks common BRICS currency to counter US dollar's dominance</a></strong></p>

<p>A total of 19 countries, with 13 formal requests and approximately 5 or 6 informal queries, have approached BRICS leaders expressing their interest in becoming full members of the BRICS forum.&nbsp;</p>

<p><strong>Also watch |&nbsp;South Africa's Foreign Minister speaks to WION on India ties, Russia Ukraine conflict</strong></p>

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<p>In a recent interview with WION, South Africa's Foreign Minister, Naledi Pandor, disclosed that numerous countries, including Saudi Arabia, the United Arab Emirates, Egypt, Algeria, Argentina, Mexico, and Nigeria, have expressed keen interest in joining&nbsp;BRICS.&nbsp;Minister Pandor highlighted the widespread global interest in becoming part of the grouping, emphasising that the decision on new members will be made after shaping the appropriate criteria.</p>

<p>The recent BRICS Foreign Ministers meeting in Cape Town saw several African countries, Iran, Saudi Arabia, and the UAE attend the "Friends of BRICS" gathering.</p>

<p>This meeting further highlighted the interest and potential for BRICS to broaden its reach and influence. Focus on expansion has been part of the conversation withing the grouping for some time now. The&nbsp;2022 China&nbsp;BRICS&nbsp;summit saw calls by members countries to looking into expansion.</p>

<p>Para 73 of the joint statement said, "we support promoting discussions among BRICS members on BRICS expansion process. We stress the need to clarify the guiding principles, standards, criteria and procedures for this expansion process through Sherpas’ channel on the basis of full consultation and consensus."</p>

<p>Formed in the early 2000s,&nbsp;BRICS&nbsp;brings together the key emerging economies of Brazil, Russia, India, China, and South Africa. Collectively, these nations account for 41% of the world's population, contribute 24 per cent&nbsp;to global GDP, and hold a substantial 16% share in world trade. Over the years,&nbsp;BRICS&nbsp;countries have played a vital role as engines of global economic growth.</p>

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South Africa, as the current President of BRICS, is set to host a significant meeting this week with the expansion of the grouping as a key agenda. The BRICS Sherpa meeting, scheduled to take place from July 4th to 6th in Durban, will focus on finalising the expansion document to be considered by the foreign ministers and the leaders.

South Africa, as the current President of BRICS, is set to host a significant meeting this week with the expansion of the grouping as a key agenda. The BRICS Sherpa meeting, scheduled to take place from July 4th to 6th in Durban, will focus on finalising the expansion document to be considered by the foreign ministers and the leaders. During the meeting, the member countries will collaborate on establishing guidelines, procedures, and criteria for the expansion of BRICS. Also read | Brazil's President Lula seeks common BRICS currency to counter US dollar's dominance A total of 19 countries, with 13 formal requests and approximately 5 or 6 informal queries, have approached BRICS leaders expressing their interest in becoming full members of the BRICS forum. Also watch | South Africa's Foreign Minister speaks to WION on India ties, Russia Ukraine conflict × In a recent interview with WION, South Africa's Foreign Minister, Naledi Pandor, disclosed that numerous countries, including Saudi Arabia, the United Arab Emirates, Egypt, Algeria, Argentina, Mexico, and Nigeria, have expressed keen interest in joining BRICS. Minister Pandor highlighted the widespread global interest in becoming part of the grouping, emphasising that the decision on new members will be made after shaping the appropriate criteria. The recent BRICS Foreign Ministers meeting in Cape Town saw several African countries, Iran, Saudi Arabia, and the UAE attend the "Friends of BRICS" gathering. This meeting further highlighted the interest and potential for BRICS to broaden its reach and influence. Focus on expansion has been part of the conversation withing the grouping for some time now. The 2022 China BRICS summit saw calls by members countries to looking into expansion. Para 73 of the joint statement said, "we support promoting discussions among BRICS members on BRICS expansion process. We stress the need to clarify the guiding principles, standards, criteria and procedures for this expansion process through Sherpas’ channel on the basis of full consultation and consensus." Formed in the early 2000s, BRICS brings together the key emerging economies of Brazil, Russia, India, China, and South Africa. Collectively, these nations account for 41% of the world's population, contribute 24 per cent to global GDP, and hold a substantial 16% share in world trade. Over the years, BRICS countries have played a vital role as engines of global economic growth. WATCH WION LIVE HERE

Key BRICS meet this week to discuss expansion

The 15th BRICS summit is going to be held in August in South Africa's Johannesburg which will include major emerging economies like Brazil, Russia, India, China and South Africa has been in the news for more than one reason. There has been speculation about additions of new members or changes in the venue. Even though the venue has been confirmed the biggest question lies whether Vladimir Putin who has just torched a mutiny back home will attend the summit?

BRICS summit to be held in Johannesburg: Will Vladimir Putin attend the 15th Summit?

<p>The US dollar’s role as world’s primary reserve currency for global trade was challenged at a finance summit in Paris by South African President Cyril Ramaphosa and his Brazilian counterpart&nbsp;Luiz Inácio Lula da Silva after the US Treasury Secretary Janet Yellen defended the oversized role of US dollar in global markets.</p>

<p>At Paris Climate Finance summit, South African President Cyril Ramaphosa appeared to support Brazilian President Luiz Inácio Lula da Silva's call for emerging markets in the Global South to reconsider their reliance on the dollar.</p>

<p>Lula, who was on a panel with Ramaphosa, called for trading in domestic currencies and exploring alternative options.</p>

<h2><strong>'Issue of currency' to be discussed in BRICS summit</strong></h2>

<p>South African President Ramaphosa said&nbsp;that the "issue of currency" would be discussed at the upcoming meeting of BRICS countries later this year, which South Africa is scheduled to host in August.</p>

<p>The BRICS group comprises Brazil, Russia, India, China, and South Africa.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/business-economy/brazils-president-lula-assents-to-common-brics-currency-to-counter-us-dollars-dominance-582289">Brazil's President Lula seeks common BRICS currency to counter US dollar's dominance</a></strong></p>

<p>Yellen argued that finding viable replacements for a currency that has dominated trade for decades would pose challenges for countries.</p>

<p>"There is a very good reason why the dollar is used widely in trade and that’s because we have deep, liquid, open capital markets, rule of law and long and deep financial instruments," she was quoted as saying by <em>Financial Times.</em></p>

<p>Yellen's comments came at a time when China is pushing for increased international adoption of Yuan.</p>

<p>Russia has been using the Chinese yuan as one of its main currencies for international reserves and overseas trade since the beginning of the war in Ukraine.</p>

<p>Concerns have been raised that Washington might increasingly exploit the global dominance of the dollar to further its foreign policy objectives, as exemplified by the freezing of $300 billion worth of Russian central bank assets held in dollars and euros by Ukraine's western allies.</p>

<p><strong>Also watch |&nbsp;Is BRICS raging against the US Dollar an exercise in futility?</strong></p>

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<p>Although some central banks have responded to the sanctions on Russia by purchasing gold, they still retain nearly 60 per cent of their reserves in US currency, according to IMF data cited by Financial Times.</p>

<p>During the closing ceremony of the Paris summit, co-hosted by French President Emmanuel Macron and Prime Minister of Barbados Mia Mottley, Lula reiterated his concerns about the negative impact of the dollar's dominance on low- and middle-income countries.</p>

<p>He questioned why countries like Brazil couldn't engage in trade using their own currencies when conducting business with Argentina, China, or other nations.</p>

<p>"Why can’t we trade in our own currencies?" he asked.</p>

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The US dollar’s role as world’s primary reserve currency for global trade was challenged at a finance summit in Paris by South African President Cyril Ramaphosa and his Brazilian counterpart Luiz Inácio Lula da Silva after the US Treasury Secretary Janet Yellen defended the oversized role of US dollar in global markets.

The US dollar’s role as world’s primary reserve currency for global trade was challenged at a finance summit in Paris by South African President Cyril Ramaphosa and his Brazilian counterpart Luiz Inácio Lula da Silva after the US Treasury Secretary Janet Yellen defended the oversized role of US dollar in global markets. At Paris Climate Finance summit, South African President Cyril Ramaphosa appeared to support Brazilian President Luiz Inácio Lula da Silva's call for emerging markets in the Global South to reconsider their reliance on the dollar. Lula, who was on a panel with Ramaphosa, called for trading in domestic currencies and exploring alternative options. 'Issue of currency' to be discussed in BRICS summit South African President Ramaphosa said that the "issue of currency" would be discussed at the upcoming meeting of BRICS countries later this year, which South Africa is scheduled to host in August. The BRICS group comprises Brazil, Russia, India, China, and South Africa. Also read | Brazil's President Lula seeks common BRICS currency to counter US dollar's dominance Yellen argued that finding viable replacements for a currency that has dominated trade for decades would pose challenges for countries. "There is a very good reason why the dollar is used widely in trade and that’s because we have deep, liquid, open capital markets, rule of law and long and deep financial instruments," she was quoted as saying by Financial Times. Yellen's comments came at a time when China is pushing for increased international adoption of Yuan. Russia has been using the Chinese yuan as one of its main currencies for international reserves and overseas trade since the beginning of the war in Ukraine. Concerns have been raised that Washington might increasingly exploit the global dominance of the dollar to further its foreign policy objectives, as exemplified by the freezing of $300 billion worth of Russian central bank assets held in dollars and euros by Ukraine's western allies. Also watch | Is BRICS raging against the US Dollar an exercise in futility? × Although some central banks have responded to the sanctions on Russia by purchasing gold, they still retain nearly 60 per cent of their reserves in US currency, according to IMF data cited by Financial Times. During the closing ceremony of the Paris summit, co-hosted by French President Emmanuel Macron and Prime Minister of Barbados Mia Mottley, Lula reiterated his concerns about the negative impact of the dollar's dominance on low- and middle-income countries. He questioned why countries like Brazil couldn't engage in trade using their own currencies when conducting business with Argentina, China, or other nations. "Why can’t we trade in our own currencies?" he asked. WATCH WION LIVE HERE

'Why can’t we trade in our own currencies?': Brazil's Lula repeats de-dollarisation call of BRICS nations

BRICS expansion is taking place at a fast pace. Several nations are knocking on the door of the BRICS. 19 nations have expressed their interest to join the bloc. Bangladesh is also standing in a queue to gain the membership. The nation hopes to join BRICS in August this year.

Why does Bangladesh want to join BRICS? What does it stand to gain by joining the bloc?

<p>Egypt has formally applied to join the five-member BRICS bloc of emerging economies, the Russian ambassador to Cairo, Georgy Borisenko, told Russian state news agency TASS.</p>

<p>"Egypt has applied to join the BRICS group, because one of the initiatives that BRICS is currently engaged in is the maximum transfer of trade to alternative currencies, whether national or the creation of some kind of joint currency. Egypt is very interested in this," Borisenko was quoted as saying.</p>

<p>BRICS comprises Brazil, Russia, India, China, and South Africa.</p>

<p>In June, the foreign ministers of BRICS member states held a meeting in Cape Town, which also saw the attendance of top diplomats from 12 other countries, including Egypt, Iran, Saudi Arabia and the United Arab Emirates.</p>

<p>The&nbsp;BRICS has been seeking to expand their membership as many experts have predicted that the bloc will dominate the world economy by 2050.</p>

<h2><strong>Is BRICS raging against the US Dollar an exercise in futility?</strong></h2>

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<p>The Russian envoy further said that Egypt has been looking to boost trade and economic cooperation with Russia.</p>

<p>"New payment mechanisms are being created for trade transactions," Borisenko added.</p>

<p>The BRICS nations account for 40 per cent of the world’s population and almost a third of the global economy. The members of the group have recently outpaced the G7 in terms of economic growth.</p>

<h2><strong>Egypt’s journey towards de-dollarisation</strong></h2>

<p>The development comes after Egypt joined the BRICS bank, the New Development Bank (NDB). The Egyptian lawmakers had welcomed the agreement in January, saying it could help the crisis-hit country to reduce demand on US dollars.</p>

<p>The call to ditch the dollar in settling overseas trade has been getting louder with more countries joining the league. Egypt has become the latest entrant to shed the US currency in trade with several member states of the BRICS economic bloc.</p>

<p>On Tuesday, Egyptian Supply Minister Ali Moselhy said that the cash-strapped country is looking to pay for imports from India, China and Russia in their local currencies instead of the US dollar.</p>

<p><strong>Also read |</strong>&nbsp;<a href="https://www.wionews.com/business-economy/us-fed-ends-its-interest-rate-hike-campaign-after-10-consecutive-increases-604549">US Fed ends its interest-rate hike campaign after 10 consecutive increases</a></p>

<p>“Nothing of the sort has been implemented but there are discussions so that we can trade in local currencies of countries like India, Russia or China,” Egyptian Supply Minister Ali Moselhy was quoted as saying by&nbsp;Reuters.</p>

<p><strong>Also read |&nbsp;</strong><a href="https://www.wionews.com/world/ukraine-war-belarus-begins-taking-delivery-of-russian-nuclear-weapons-604512">Ukraine war: Belarus begins taking delivery of Russian nuclear weapons</a></p>

<p>This comes at a time when Egypt is trying to stabilise its economy after the Russian invasion of Ukraine last year rocked its tourism industry, raised commodity prices and prompted foreign investors to pull about $20 billion out of its financial markets.</p>

<p>Inflation has risen sharply over the last year in Egypt after a series of currency devaluations, a prolonged shortage of foreign currency, and continuing delays in getting imports into the country.</p>

<p><em>(With inputs from agencies)</em></p>

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Egypt has formally applied to join the five-member BRICS bloc of emerging economies, the Russian ambassador to Cairo, Georgy Borisenko, told Russian state news agency TASS.

Egypt has formally applied to join the five-member BRICS bloc of emerging economies, the Russian ambassador to Cairo, Georgy Borisenko, told Russian state news agency TASS. "Egypt has applied to join the BRICS group, because one of the initiatives that BRICS is currently engaged in is the maximum transfer of trade to alternative currencies, whether national or the creation of some kind of joint currency. Egypt is very interested in this," Borisenko was quoted as saying. BRICS comprises Brazil, Russia, India, China, and South Africa. In June, the foreign ministers of BRICS member states held a meeting in Cape Town, which also saw the attendance of top diplomats from 12 other countries, including Egypt, Iran, Saudi Arabia and the United Arab Emirates. The BRICS has been seeking to expand their membership as many experts have predicted that the bloc will dominate the world economy by 2050. Is BRICS raging against the US Dollar an exercise in futility? The Russian envoy further said that Egypt has been looking to boost trade and economic cooperation with Russia. "New payment mechanisms are being created for trade transactions," Borisenko added. The BRICS nations account for 40 per cent of the world’s population and almost a third of the global economy. The members of the group have recently outpaced the G7 in terms of economic growth. Egypt’s journey towards de-dollarisation The development comes after Egypt joined the BRICS bank, the New Development Bank (NDB). The Egyptian lawmakers had welcomed the agreement in January, saying it could help the crisis-hit country to reduce demand on US dollars. The call to ditch the dollar in settling overseas trade has been getting louder with more countries joining the league. Egypt has become the latest entrant to shed the US currency in trade with several member states of the BRICS economic bloc. On Tuesday, Egyptian Supply Minister Ali Moselhy said that the cash-strapped country is looking to pay for imports from India, China and Russia in their local currencies instead of the US dollar. Also read | US Fed ends its interest-rate hike campaign after 10 consecutive increases “Nothing of the sort has been implemented but there are discussions so that we can trade in local currencies of countries like India, Russia or China,” Egyptian Supply Minister Ali Moselhy was quoted as saying by Reuters. Also read | Ukraine war: Belarus begins taking delivery of Russian nuclear weapons This comes at a time when Egypt is trying to stabilise its economy after the Russian invasion of Ukraine last year rocked its tourism industry, raised commodity prices and prompted foreign investors to pull about $20 billion out of its financial markets. Inflation has risen sharply over the last year in Egypt after a series of currency devaluations, a prolonged shortage of foreign currency, and continuing delays in getting imports into the country. (With inputs from agencies) WATCH WION LIVE HERE

Egypt has applied to join BRICS, says Russian envoy

The World's undisputed king of currency is facing a fresh set of challenges. The US dollar has always dominated global trade while being the world's reserve currency. Nations around the world are, however, sceptical about US Dollar. They want to reduce this dependency on single foreign currency. Taking an initiative, BRICS nations are trying to attract hangers-on by whipping up talk of a rival currency.

Is BRICS raging against the US Dollar an exercise in futility?

<p>Defending Iran’s tough stance against the West, the country’s supreme leader Ayatollah Ali Khamenei on Sunday affirmed a lenient approach would only invite more hostilities from Tehran’s enemies. Ayatollah Khamenei was speaking at an event marking the death of his predecessor and the founder of the Islamic Republic of Iran Ayatollah Ruhollah Khomeini.</p>

<p>Khamenei said, “Some people are mistaken to think if we back down from our stances in certain cases that will cause the enmity of the US, the global arrogance, or Israel toward us to diminish.” “This is a mistake,” he added.</p>

<h2><strong>Thugs and Villains responsible for anti-establishment protests: Khamenei</strong></h2>

<p>Khamenei also referred to massive anti-government protests that erupted last year following the murder of 22-year-old woman Mahsa Amini at the hands of Iran’s morality police. He said the protests were organised and fuelled by anti-Iran foreign powers. “Thugs and villains did what they did and malicious individuals chanted such slogans,” Khamenei said.&nbsp;</p>

<p>He added, “According to their plot they thought the Islamic Republic was finished and they could take the Iranian nation as servants. These fools, once again, were wrong. Once again, they failed to know our people.”</p>

<h2><strong>Iran facing a massive economic crisis</strong></h2>

<p>Iran is amidst the longest economic crisis the country has faced in decades, triggered by former US President Donald Trump’s withdrawal from the Iran nuclear deal and ensuing sanctions on the Iranian regime. However, the sanctions have so far failed to exact any concessions from the Iranian government. The country has significantly boosted its nuclear weapon programme ever since.&nbsp;</p>

<p><strong>Watch:&nbsp;Iran: Nation continues to crackdown on anti-govt protesters</strong></p>

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<p>Also, Iran has joined the ranks of Russia, North Korea and China in vehemently opposing the West on every international platform, including the UN.</p>

<h2><strong>Iran’s bid to join BRICS</strong></h2>

<p>Meanwhile, Iran has stepped up efforts to integrate its economy with BRICS nations, a bloc comprising Brazil, Russia, China, India and South Africa. Iran's Foreign Minister Hossein Amir-Abdollahian recently attended a foreign ministers’ summit of BRICS nations in South Africa.&nbsp;</p>

<p>In his speech given at the event, he also stressed that his nation will soon host a conference in co-ordination with the BRICS nations. Hossein Amir-Abdollahian said, “We will soon organize a conference in Tehran through coordination with the embassies of BRICS countries to elaborate on existing potentials and capacities of cooperation between Iran and BRICS. I would like to take the opportunity to invite all the BRICS countries to participate in the Tehran conference.”</p>

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Defending Iran’s tough stance against the West, the country’s supreme leader Ayatollah Ali Khamenei on Sunday affirmed a lenient approach would only invite more hostilities from Tehran’s enemies.

Defending Iran’s tough stance against the West, the country’s supreme leader Ayatollah Ali Khamenei on Sunday affirmed a lenient approach would only invite more hostilities from Tehran’s enemies. Ayatollah Khamenei was speaking at an event marking the death of his predecessor and the founder of the Islamic Republic of Iran Ayatollah Ruhollah Khomeini. Khamenei said, “Some people are mistaken to think if we back down from our stances in certain cases that will cause the enmity of the US, the global arrogance, or Israel toward us to diminish.” “This is a mistake,” he added. Thugs and Villains responsible for anti-establishment protests: Khamenei Khamenei also referred to massive anti-government protests that erupted last year following the murder of 22-year-old woman Mahsa Amini at the hands of Iran’s morality police. He said the protests were organised and fuelled by anti-Iran foreign powers. “Thugs and villains did what they did and malicious individuals chanted such slogans,” Khamenei said. He added, “According to their plot they thought the Islamic Republic was finished and they could take the Iranian nation as servants. These fools, once again, were wrong. Once again, they failed to know our people.” Iran facing a massive economic crisis Iran is amidst the longest economic crisis the country has faced in decades, triggered by former US President Donald Trump’s withdrawal from the Iran nuclear deal and ensuing sanctions on the Iranian regime. However, the sanctions have so far failed to exact any concessions from the Iranian government. The country has significantly boosted its nuclear weapon programme ever since. Watch: Iran: Nation continues to crackdown on anti-govt protesters × Also, Iran has joined the ranks of Russia, North Korea and China in vehemently opposing the West on every international platform, including the UN. Iran’s bid to join BRICS Meanwhile, Iran has stepped up efforts to integrate its economy with BRICS nations, a bloc comprising Brazil, Russia, China, India and South Africa. Iran's Foreign Minister Hossein Amir-Abdollahian recently attended a foreign ministers’ summit of BRICS nations in South Africa. In his speech given at the event, he also stressed that his nation will soon host a conference in co-ordination with the BRICS nations. Hossein Amir-Abdollahian said, “We will soon organize a conference in Tehran through coordination with the embassies of BRICS countries to elaborate on existing potentials and capacities of cooperation between Iran and BRICS. I would like to take the opportunity to invite all the BRICS countries to participate in the Tehran conference.” WATCH WION LIVE HERE ×

Iran trains its guns on West as it seeks to build closer ties with BRICS nations

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