Trump may be BRICS’s best recruitment agent
US tariffs and financial pressure may strengthen BRICS incentives for economic cooperation and payment alternatives, according to an Al Jazeera opinion piece.
US tariffs and financial pressure may strengthen BRICS incentives for economic cooperation and payment alternatives, according to an Al Jazeera opinion piece.
Speaking at the BRICS summit in New Delhi, Brazil’s foreign minister said the bloc is entering a consolidation phase and rejected claims that BRICS is anti-Western or seeking to replace the dollar.
BRICS Pay links existing national payment systems to enable cross-border transactions in local currencies and reduce dependence on the US dollar and SWIFT.
BRICS leaders are gathering in New Delhi for a summit shaped by geopolitical and economic challenges, with the Middle East, trade, and energy expected to dominate discussions.
A joint statement by BRICS finance ministers and central bank governors made no mention of a common currency or a formal move to remove the US dollar, while emphasizing local-currency trade, investment, and improved cross-border payment systems.
International journalists covering the 18th BRICS Summit in New Delhi welcomed discussions on economic cooperation, local-currency trade and digital payment systems, while a Russian blogger called for greater focus on peace.
Chinese President Xi Jinping arrived in India for the 18th BRICS leaders’ summit, with discussions expected to cover the development of the mechanism, practical cooperation, global governance, and settlement in national currencies.
Bank Indonesia Governor Destry Damayanti said BRICS countries should develop cross-border payments in national currencies to shield their economies from geopolitical risks.
The BRICS business forum opened in New Delhi ahead of India’s annual summit, with digital technology and resilient trade networks emerging as key priorities for member states.