Saudi Arabia, Iran Among Countries Joining China-Led Economic Bloc That Challenges West
Headline from Forbes
The other six countries invited to join the group include Argentina and the UAE, as BRICS serves as a counter to Western dominance in international affairs.
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Saudi Arabia, Argentina, Indonesia and Egypt are among the potential candidates to expand the five-nation bloc, many of them seeking stronger ties with non-Western powers. Iran is also interested.
The enlarged BRICS coalition will control almost half the global crude oil market and will have the strength to trade within the bloc in non-dollar currencies.
The BRICS bloc of developing nations agreed on Thursday to admit Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates in a move aimed at accelerating its push to reshuffle a world order it sees as outdated.
Six countries — Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates — will join the the group in January as Russia and China try to counter the west.
Oil powers Saudi Arabia and the United Arab Emirates have been invited to become members of the BRICS group of developing nations in its first expansion in over a decade.
Following the latest BRICS meeting in South-Africa, OPEC heavy-hitters Saudi Arabia, UAE and Iran as well as Argentina, Egypt and Ethiopia have received an invitation to join the bloc.
The move could throw more scrutiny on Beijing's political influence in the Persian Gulf, with questions being raised over if BRICS is taking an anti-West turn.
Iran and Saudi Arabia are among six nations that have been invited to join the BRICS bloc of developing economies, along with the United Arab Emirates, Argentina, Egypt and Ethiopia. South African President Cyril Ramaphosa, whose country presently chairs BRICS, made the announcement at a bloc summit…
Group, which includes Western rivals Russia and China, also to welcome Argentina, Egypt, and Ethiopia in 2024; Tehran hails 'strategic victory for Iran's foreign policy'
The other six countries invited to join the group include Argentina and the UAE, as BRICS serves as a counter to Western dominance in international affairs.
Iran was among six countries in the Middle East, South America, and Africa invited to join the BRICS bloc of developing countries on Thursday, during a summit in Johannesburg.
Six additional countries will join the bloc in an effort to grow its global importance and ability to challenge the West on key political and economic issues.
Expansion of the bloc, which also invited Argentina, Egypt, Ethiopia and the United Arab Emirates, was a key agenda item at this week’s summit in South Africa.
The five BRICS developing nations will admit Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates, they said on Thursday, a move aimed at growing the clout of the bloc as it pushes…
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