The BRICS Summit 2023 in Johannesburg, South Africa marked a pivotal moment as six new members were announced to join BRICS in 2024. The expansion highlighted the growing competition between India and China for dominance within BRICS and the leadership position of the Global South.
A recent tweet by the Russian Embassy in Kenya suggests that BRICS countries are considering introducing a gold-backed trading currency to challenge the global dominance of the US Dollar.
BRICS is now considering expansion with the potential inclusion of Saudi Arabia, Iran, UAE and other nations like Argentina, Algeria, and Venezuela. With these prospective additions, BRICS seeks to bolster its geopolitical influence as a representative force of the Global South.
