BRICS Continues Expansion, Adds 5 New Members as More Countries Seek Alternatives to Dollar
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BRICS inducted 5 new countries in January 2024, including Saudi Arabia, UAE, Egypt, Iran, and Ethiopia.
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16 more countries may join BRICS in 2024 to support de-dollarization efforts.
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10 ASEAN nations agreed last summer to stop trading in USD and use native currencies instead.
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African and Middle Eastern countries like Pakistan, Iraq, Turkey, Nigeria, and Egypt are expected to apply for BRICS expansion spots.
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Russian President Putin confirmed BRICS is open to more member countries and hinted at new expansion plans for the 2024 summit.