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In a major diplomatic milestone, Brazil announced on January 17, 2025, that Nigeria has been officially recognized as a partner country in the BRICS group. This marks a significant step in expanding global collaboration among emerging economies. What Is BRICS? An Overview of the Bloc BRICS is a coalition of emerging economies initially comprising Brazil,…
U.S. Pushback Amid BRICS’ Currency Ambitions President-elect Donald Trump’s recent declaration to impose 100% tariffs on BRICS nations if they pursue the creation of a new currency has stirred global attention. The warning, issued as the BRICS bloc explores alternatives to the U.S. dollar, highlights the growing friction between the United States and emerging economies…
Putin’s Vision for Redefining Global Economic Power At the recent BRICS Summit in Kazan, Russian President Vladimir Putin made bold proposals aimed at redefining global economic power. His key recommendations—a BRICS grain exchange and a new investment platform—represent more than just technical solutions; they are part of a broader effort by Russia and its allies…
President Javier Milei of Argentina has made a decisive move by officially retracting the country’s anticipated entry into the BRICS alliance, announced on Friday. In a series of letters dispatched to BRICS leaders, Milei cited the current unfavorable circumstances as the primary rationale behind Argentina halting its full-fledged inclusion in the alliance. The BRICS consortium,…
In the wake of the recently concluded 15th Annual BRICS Summit, Brazil has put forth an innovative proposal to address trade risks for Argentina. As the influence of the dollar dwindles in Argentina due to acute shortages, Brazil has suggested using the Chinese Yuan as a trade guarantee. This move aims to mitigate the challenges associated with conducting trade in a currency facing significant volatility.
Vice-President Kashim Shettima affirms Nigeria’s commitment to China-Africa partnership at BRICS Summit. President Bola Tinubu, President Xi Jinping, and other African leaders join forces to modernize agriculture, promote regional integration and industrialization.