Indian Foreign Minister Subrahmanyam Jaishankar said on Thursday that unimpeded maritime flows through international waters, including the Strait of Hormuz, are vital for global economic well-being.

Jaishankar was speaking at the start of a two-day meeting of BRICS foreign ministers in New Delhi.

“The conflict in West Asia merits particular attention,” Jaishankar said, referring to the US-Israeli war with Iran, without naming the two countries.

“Safe and unimpeded maritime flows through international waterways, including the Strait of Hormuz and the Red Sea, remain vital for global economic well-being.”

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Source: https://www.trtworld.com/article/5a38a1054434?utm_source=%2Flive%2F69a2a1d4e4ba8e89ecd092dc&utm_medium=internal&utm_campaign=recommended&utm_content=inline&fbclid=IwY2xjawRzBcFleHRuA2FlbQIxMQBzcnRjBmFwcF9pZBAyMjIwMzkxNzg4MjAwODkyAAEeXraXGlWp42qjjRZ-C0N3migGWgz_cfmKCOTJlvC-Puh-U06uxvfUnpJTxMQ_aem_SrrkyHaHPkN-Jw55iPx4uQ

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As India prepares to host the BRICS summit later this year, the focus will be on a payment system linking national digital currencies. By prioritizing this infrastructure over launching a new currency, the bloc makes a pragmatic bet that practical systems will reshape global finance more than symbolic gestures.

At the summit, a crucial agenda item signals a potential shift: developing a BRICS payment system built on interoperable central bank digital currencies (CBDCs).

This infrastructure-focused initiative has drawn less attention, as it avoids the drama of calls for a ‘BRICS currency’ or overt de-dollarization. However, its avoidance of headline-grabbing moves may make it more consequential, underscoring the main argument: practical infrastructure changes can reshape finance more than symbolic challenges.

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Source: https://asiatimes.com/2026/01/brics-laying-first-tracks-for-new-global-payment-system/?fbclid=IwY2xjawPtyrRleHRuA2FlbQIxMQBzcnRjBmFwcF9pZBAyMjIwMzkxNzg4MjAwODkyAAEeHIVwr_Wh3aAsjKa5XQ_m44qDYqc0CG5BnbwDNsTK-1tinA8X3rngohg7OIQ_aem_5NlgZrRZj-eSjJLO8SJViw

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In instructions on the Kremlin’s website published on Wednesday, Putin wrote that the entities should “ensure further cooperation with the People’s Republic of China in technological research and development in the field of artificial intelligence.”

Newsweek reached out to the Ministry of Foreign Affairs of the Russian Federation and the Embassy of the People’s Republic of China in the U.K. for comment via email.

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Source: https://www.newsweek.com/china-russia-forge-major-tech-collaboration-challenge-us-2008502

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“The proactive work is underway on fulfillment of decisions of the Johannesburg summit of the last year, specifically as regards improvement of the international monetary system and development of a platform for payment in national currencies in mutual trade,” Russian Foreign Minister Sergey Lavrov said on Monday.

BRICS held its last annual summit in August in Johannesburg, South Africa, as that nation held the presidency of the organization in 2023. Russian strongman Vladimir Putin chosenot to attend on that occasion, as South Africa is a party to the International Criminal Court (ICC), which has an outstanding warrant out for Putin on charges of war crimes in Ukraine. Russia holds this year’s presidency and will host the official summit in the city of Kazan in October.

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Source: https://www.breitbart.com/economy/2024/06/10/brics-summit-begins-goal-ditching-u-s-dollar/

The post BRICS Summit Begins with Goal of Ditching U.S. Dollar first appeared on Garner Ted Armstrong Evangelistic Association.

Lavrov made a one-day stop in Venezuela as part of a broader Latin America tour that began in Cuba on Monday. In Caracas, he met with socialist dictator Nicolás Maduro, Vice President Delcy Rodríguez, and Venezuelan Foreign Minister Yván Gil.

“We put special focus to increasing trade and economic relations. There are numerous opportunities here. The high-level intergovernmental trade and economic commission between Russia and Venezuela plays a critical role in our opinion,” Lavrov said at a press conference following his meeting with Gil.

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Source: https://www.breitbart.com/latin-america/2024/02/21/venezuela-and-russia-agree-to-peaceful-nuclear-energy-cooperation/

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The event is the first of its kind uniting the armies of Saudi Arabia and India.

India is hosting the exercises in the northern state of Rajasthan, which borders Pakistan and hosts a military complex used for desert terrain training. The exercises are small; the Indian Defense Ministry stated that each country is sending 45 service members each from the Royal Saudi Land Forces and Indian Army. While the two nations have engaged in naval exercises in the past, “Sada Tanseeq” represents a significant elevation in defense cooperation and indicate that Riyadh and New Delhi are seeking to dramatically expand their friendship beyond economic and technology cooperation.

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Source: https://www.breitbart.com/middle-east/2024/02/01/india-saudi-arabia-hold-first-ever-joint-army-exercises/

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Thirty-four countries have submitted an expression of interest in joining the bloc of major emerging economies, South African Foreign Minister Naledi Pandor told reporters, without naming the nations.

Russia was accepting those applications after assuming rotating chairmanship of the group this year – and will be the first member to oversee the body since it significantly expanded its global footprint at the start of the year, when Iran, Saudi Arabia, the United Arab Emirates (UAE), Ethiopia, Iran and Egypt formally joined.

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Source: https://www.cnn.com/2024/02/01/china/brics-membership-applications-china-russia-intl-hnk/index.html

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The Brics group of big emerging economies has announced the admission of six new members, in an attempt to reshape the global world order and provide a counterweight to the US and its allies.

From the beginning of next year, Iran, Saudi Arabia, Egypt, Argentina, the UAE and Ethiopia will join the current five members – Brazil, Russia, India, China and South Africa – it was announced at a summit in Johannesburg on Thursday.

China’s president, Xi Jinping, described the expansion as “historic”. He had been the leading proponent of the admission of new members, presenting an enlarged Brics as a way for the global south to have a stronger voice in world affairs.

It is unclear, however, how the expansion would significantly enhance the group’s clout on the global stage. That would depend on how far it will be able to act in unison, analysts said, and the group of new members has made it even more disparate, a mix of powerful autocracies with middle-income and developing democracies.

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Source: https://www.theguardian.com/business/2023/aug/24/five-brics-nations-announce-admission-of-six-new-countries-to-bloc

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Leaders from developing countries representing almost half the world’s population including China and Russia are to meet in South Africa for a key summit aimed at reinforcing their alliance as a counterweight to the west.

The Brics grouping summit in Johannesburg, which starts on Tuesday, will be hosted by the South African president, Cyril Ramaphosa, and brings together the prime minister of India, Narendra Modi, as well the presidents of China, Xi Jinping, and Brazil, Luiz Inácio Lula da Silva.

Dozens of leaders of other countries in Africa, Asia and the Middle East will also attend, many hoping to be invited to join the bloc.

Russia will be represented by its foreign minister, Sergei Lavrov, after Vladimir Putin decided not travel to Johannesburg to avoid forcing South Africa to choose between fulfilling conflicting obligations as hosts of the summit and as a member of the international criminal court.

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Source: https://www.theguardian.com/world/2023/aug/21/brics-looks-to-expand-bloc-south-africa-summit-divisions-key-members-india

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The term BRIC was coined by Goldman Sachs economist Jim O’Neill in 2001 to describe the rise of Brazil, Russia, India and China. The BRIC powers had their first summit in 2009 in Russia. South Africa joined in 2010.

“We expect BRICS will give us a positive response to the request we have made,” foreign ministry spokesman Meles Alem told journalists, according to the state-run news agency ENA.

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Source: https://www.reuters.com/world/ethiopia-asks-join-brics-bloc-emerging-economies-2023-06-29/

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