Russian Foreign Minister Sergey Lavrov announced that Russia, during its presidency of the BRICS group, is focused on comprehensively strengthening the strategic partnership within the bloc.
In a video message to the participants of the 5th International Municipal Forum of the “BRICS+,” Lavrov commented on the significant geopolitical shifts occurring globally.
He observed the formation of a more equitable, multipolar world order, emphasizing the increasing desire of nations in the South and East to bolster their sovereignty and identity.
Lavrov highlighted Russia’s independent approach to foreign policy, based on core national interests, and noted the growing interest in BRICS countries as a result of these global trends.
He mentioned the historic decision to invite six new members to join BRICS, effective from January 1, 2024, reflecting the rising interest in cooperation with the group.
Concluding his remarks, Lavrov stated, “Next year, the presidency of the BRICS group will pass to Russia. We are committed to productive and dynamic work to enhance strategic partnership in all areas.”
BRICS, which unites Brazil, Russia, India, China, and South Africa, announced at the Johannesburg Summit in August the decision to invite Argentina, Egypt, Iran, Ethiopia, the United Arab Emirates, and Saudi Arabia to become full members starting January 1, 2024.
This expansion marks a significant milestone in the evolution of BRICS as a major global economic and political alliance.
Last August, the BRICS summit in Johannesburg marked a significant transformation in global geopolitics and economics.
Most notably, the enlarged coalition will soon control an astounding 80% of the world’s oil production.
The group considered the adoption of national currencies in trade and amplifying cooperation in fields like sports, tourism, and security.
According to the website “Life.ru,” the coalition’s new makeup will give it control over 80% of the world’s oil production. This dramatic shift is primarily due to the inclusion of Saudi Arabia, the UAE, and Iran, all pivotal players in the oil market.
Furthermore, the collective GDP of BRICS countries will constitute 30% of the global economy, surpassing 30 trillion dollars.