Russia Actively Discussing BRICS Expansion With Member Nations, Official Reveals

A Russian official has revealed that regular discussions are being held between Russia and other BRICS member nations regarding the expansion of the economic group. “This requires a thorough analysis and delicate internal work by the five countries to reach a consensus,” according to Russia’s Foreign Ministry.

Member Countries Discuss BRICS Expansion

Maria Zakharova, the spokeswoman for the Russian Foreign Ministry, stated during a news briefing on Thursday that Russia has been holding regular negotiations with its BRICS partners regarding the group’s possible expansion, local news outlet Tass reported. The BRICS nations comprise Brazil, Russia, India, China, and South Africa.

Zakharova explained:

The entire range of issues associated with this is being discussed at BRICS sherpas and sous-sherpas meetings, and, of course, this requires a thorough analysis and delicate internal work by the five countries to reach a consensus.

The Foreign Ministry’s spokesperson added that while the discussions occur regularly, it is premature to reveal any specifics about the approval procedure at this time.

Emphasizing that the BRICS nations are focusing their attention on the group’s expansion as the topic is highly relevant at present, Zakharova noted that these issues “are discussed by the five heads of state and foreign ministers,” noting that “Specifically, the declaration adopted at the 14th BRICS summit in Beijing issued instructions to work out appropriate guiding principles, standards, criteria, and procedures.”

Earlier this week, South Africa’s ambassador to the BRICS group, Anil Sooklal, revealed that 19 countries have expressed an interest in joining the BRICS economic bloc. “What will be discussed is the expansion of BRICS and the modalities of how this will happen,” he said, elaborating:

Thirteen countries have formally asked to join and another six have asked informally. We are getting applications to join every day.

The BRICS nations have been pushing to gain global influence and shifting away from U.S. dollar reliance. In addition, the economic group is working on creating a common currency for member countries. Some economists have warned that a BRICS currency could erode the USD’s dominance.

Do you think the BRICS group should expand and add more members? 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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