Analysis Crypto by Thebittimes.Com

The BRICS alliance invited six new countries to join the bloc during the 15th summit in Johannesburg last year. The six countries that received the BRICS invitation are Saudi Arabia, the UAE, Argentina, Egypt, Iran, and Ethiopia. However, Argentina was the first country to decline the membership as the newly-elected president Javier Milei is skeptical about the bloc. The expansion has now made BRICS into a 9-member bloc leading it to grow financially stronger. Also Read: Mexico Among the 25 Countries That Want To Join BRICS On the other hand, Saudi Arabia has yet to accept the invitation and is still evaluating the pros and cons of joining BRICS. Read here to know why Saudi Arabia might also reject BRICS membership and downplay the expansion in the coming weeks. Subsequently, on the heels of the 16th summit in Russia’s Kazan region in October, South Africa’s BRICS ambassador to Russia Mzuvukile Maqetuka made an announcement about another round of possible expansi...

Russia ’s President Vladimir Putin and India ’s Prime Minister Narendra Modi held a telephone conversation on Tuesday and discussed the recent policies established at the BRICS summit in Johannesburg. The two leaders spoke extensively about BRICS expansion and the way ahead for the newly formed 11-member group. Modi and Putin discussed plans for the next BRICS summit in 2024, which will be hosted by Russia . The 16th BRICS summit will see Putin welcome the six new members into the bloc. Also Read: BRICS GDP Reaches $31 Trillion With New Members The two leaders expressed a desire to initiate large-scale energy projects by expanding the international transport and logistics infrastructure. India and Russia reviewed progress on their bilateral ties and exchanged views on both regional and international matters. The mutual issue discussed among the two is BRICS expansion and the upcoming G20 summit in New Delhi in September. After BRICS, G20 Summit in the Spotlig...