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The evolution of BRICS and its challenges today

The evolution of BRICS and its challenges today
Countries
BrazilChinaEgyptEthiopiaIndiaIndonesiaIranRussiaSaudi ArabiaSouth AfricaUnited Arab Emirates
Cooperation areas
Economic GrowthInclusive MultilateralismInstitutional Development

Source: Reuters | Original Published At: 2026-09-12 02:04:21 UTC

Key Points

  • BRICS leaders meet in New Delhi for their annual summit amid geopolitical tensions and disruptions in energy, shipping, and global trade.
  • The bloc originated from the BRIC acronym in 2001, met as a group in 2009, added South Africa in 2011, and expanded with Egypt, Ethiopia, Iran, and the UAE in 2024 and Indonesia in 2025.
  • Its New Development Bank has approved 139 projects worth nearly $43 billion, but suspended new transactions in Russia because of sanctions.
  • Members are building the BRICS Pay System, exploring links among central bank digital currencies, and increasing trade settlement in national currencies.
  • BRICS faces challenges from divergent views on its purpose, foreign policy differences, and consensus difficulties after expansion.
  • India is seeking a joint statement by bridging Iran-UAE differences, while Western nations remain cautious and U.S. President Donald Trump has threatened tariffs over a possible BRICS currency.
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