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Why Russia’s BRICS premiership is at dangerous crossways
(MENAFN) As Russia prepares to host the 16th annual BRICS Summit in Kazan from October 22 to 24, the stakes have never been higher for the organization. This summit, occurring under Russia's presidency, is particularly significant due to rising tensions surrounding potential membership expansion, which could jeopardize the group's unity. Transitioning leadership from South Africa, Russia faces the daunting task of advancing the agenda of the Global South amidst these challenges.
The 2023 BRICS expansion marked a notable shift, as several developing nations expressed keen interest in joining the bloc. This surge in interest, often characterized as a ‘fear of missing out’ (FOMO), reflects a desire among these countries to be part of a growing and influential alliance, especially as access to US-led organizations remains restricted. Many post-coup governments in Africa, perceived as unconstitutional by Western standards, are barred from financial resources through the International Monetary Fund (IMF) and World Bank. Consequently, they view BRICS and its development bank as viable alternatives for support and collaboration.
During the upcoming summit, discussions on membership expansion are expected to take center stage. The previous year's expansion highlighted significant disagreements among current member states regarding the selection of new members, indicating that consensus may be hard to achieve this time around as well.
Each BRICS member has a unique stake in the bloc's future. For Russia, which is currently grappling with extensive sanctions imposed by the US and its allies, inviting more friendly nations into the fold is particularly critical. An expanded BRICS, enriched with allies, would not only bolster Russia's standing but also help mitigate the isolation it has faced in international trade and investment due to external pressures.
In summary, the upcoming BRICS Summit presents a pivotal moment for Russia as it navigates complex dynamics of membership expansion while striving to maintain the cohesion and effectiveness of the group. The outcomes of this summit could significantly impact the future trajectory of BRICS and its role on the global stage.
The 2023 BRICS expansion marked a notable shift, as several developing nations expressed keen interest in joining the bloc. This surge in interest, often characterized as a ‘fear of missing out’ (FOMO), reflects a desire among these countries to be part of a growing and influential alliance, especially as access to US-led organizations remains restricted. Many post-coup governments in Africa, perceived as unconstitutional by Western standards, are barred from financial resources through the International Monetary Fund (IMF) and World Bank. Consequently, they view BRICS and its development bank as viable alternatives for support and collaboration.
During the upcoming summit, discussions on membership expansion are expected to take center stage. The previous year's expansion highlighted significant disagreements among current member states regarding the selection of new members, indicating that consensus may be hard to achieve this time around as well.
Each BRICS member has a unique stake in the bloc's future. For Russia, which is currently grappling with extensive sanctions imposed by the US and its allies, inviting more friendly nations into the fold is particularly critical. An expanded BRICS, enriched with allies, would not only bolster Russia's standing but also help mitigate the isolation it has faced in international trade and investment due to external pressures.
In summary, the upcoming BRICS Summit presents a pivotal moment for Russia as it navigates complex dynamics of membership expansion while striving to maintain the cohesion and effectiveness of the group. The outcomes of this summit could significantly impact the future trajectory of BRICS and its role on the global stage.
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