Leaders of some of the developing world’s most important economies are turning to the main business of their summit in South Africa after a speech by Russian President Vladimir Putin gave the gathering an anti-Western tinge.
made up of Brazil, Russia, India, China and South Africa are debating whether to expand their bloc and allow in new members more than a decade after it came into existence.
The Russian leader used a 17-minute pre-recorded speech aired on the opening day of the summit on Tuesday to lambast the West over the war in Ukraine and the financial sanctions placed on Russia as punishment for its invasion.that Russia halted last monthIn the buildup to the three days of talks in Johannesburg, BRICS officials had pushed back at suggestions the bloc was taking an anti-Western turn under the influence of Russia and China.
There appears to be momentum for expansion, with all five leaders backing the move in principle, although the exact criteria new members might need to meet to join must still be ironed out. Alongside expansion, there's also talk by the BRICS members of adopting a broad economic policy that seeks a move away from U.S. dollar-based trade within the bloc.won't take down the dollar overnight — and it's yet to see any concrete agreements to implement the idea.
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