BRICS Nations Unite to Combat Western Powers’ ‘Divisive Tactics’ – Economics Bitcoin News


The BRICS nations are emphasizing their commitment to international cooperation and “promoting a balanced approach” to countering the West’s “divisive actions,” Russia’s Minister of Foreign Affairs reportedly stated after a meeting with BRICS ambassadors.

BRICS Seeks to Strengthen Ties

Russia’s Minister of Foreign Affairs, Sergey Lavrov, underlined the need for joint efforts to challenge the West’s “divisive tactics” on Monday at a meeting with ambassadors from the BRICS countries, Russian news agency Tass reported. The BRICS nations consist of Brazil, Russia, India, China, and South Africa.

According to a statement released by the Russian Foreign Ministry at the conclusion of the meeting:

Lavrov emphasized the necessity of collective work to counter the West’s efforts to disrupt the existing security architecture, which is carried out in line with their neo-colonial tactics.

During the meeting, the ambassadors discussed the development and deepening of strategic partnerships within the BRICS framework, the statement details. “Current issues on the global agenda were examined with an emphasis on the inadmissibility of eroding the central role of the United Nations,” the Russian ministry explained, further stating:

There was a general focus on expanding the international role of BRICS and promoting a balanced approach to coordination on key multilateral platforms.

Furthermore, Lavrov updated the BRICS ambassadors on the key points of Russia’s new Foreign Policy Concept, which highlights the desire for heightened interaction within the BRICS and a vision of a multipolar world order. The BRICS ambassadors then reaffirmed their commitment to a multipolar world order that is based on respect for international law and recognizes the sovereign right to choose one’s own path of development.

The Russian Foreign Ministry’s statement adds:

The increasing interest of a large number of countries in cooperation with BRICS was noted, which is now seen as the protector of real multilateralism.

The BRICS nations are reportedly working on creating a new form of currency, which is expected to be discussed at the next leaders’ summit. “The transition to settlements in national currencies is the first step. The next one is to provide the circulation of digital or any other form of a fundamentally new currency in the nearest future,” said State Duma Deputy Chairman Alexander Babakov. Several other countries have expressed interest in joining the economic bloc, including Argentina, Iran, Indonesia, Turkey, Saudi Arabia, and Egypt. South Africa will host the next BRICS summit in August.

Many people believe that the introduction of a BRICS currency could jeopardize the USD’s status as the world’s reserve currency. Economist Jim Rickards said last week that the U.S. dollar’s greatest enemy as the world’s reserve currency is the Treasury which has weaponized the dollar and frozen the reserves of Russia’s central bank. Citing a similar reason, investment manager Larry Lepard predicted that the U.S. dollar could lose most of its value in five years.

What do you think about the BRICS nations uniting to oppose Western powers? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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