BRICS Nations Push to Expand Global Influence to Counter West’s ‘Destructive Actions’ – Finance Bitcoin News

The BRICS nations are focusing on increasing their international roles and “improving coordination on key multilateral platforms,” ​​Russia’s foreign minister revealed after a meeting with BRICS ambassadors. He stressed “the need for joint efforts to counter destructive actions aimed at destroying the established security architecture.”

BRICS seeks to expand global influence

Russian Foreign Minister Sergey Lavrov stressed the need for joint efforts to counter Western countries’ “destructive actions” 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 stressed the need for joint efforts to counter destructive actions aimed at destroying the established security architecture, carried out in line with the neo-colonial policies of Western countries.

During the meeting, the ambassadors discussed the development and strengthening of strategic partnerships within the BRICS framework. “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, adding:

There was a general focus on increasing the international role of BRICS and improving 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 expanded 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 its own path of development.

The Russian Foreign Ministry statement adds:

The growing interest was noted from a wide range of countries in cooperation with BRICS, which is now seen as the safeguard of true multilateralism.

The BRICS nations are reportedly working on creating a new form of currency, a topic expected to be discussed at the next leaders’ summit. “The transition to settlement in national currencies is the first step. The next is to ensure the circulation of digital or any other form of a fundamentally new currency in the near future, says 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 is hosting the next BRICS summit in August.

Many 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 US dollar’s biggest 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, chief investment officer Larry Lepard predicted that the US dollar could lose most of its value within five years.

What do you think of the BRICS nations seeking more influence and uniting against the US dollar? 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 of economics and cryptography.