BRICS Countries – Artifex.News https://artifex.news Stay Connected. Stay Informed. Fri, 11 Sep 2026 06:24:00 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.2 https://artifex.news/wp-content/uploads/2026/05/cropped-cropped-app-logo-32x32.png BRICS Countries – Artifex.News https://artifex.news 32 32 India did not invite Bangladesh PM Rahman for BRICS; invite was for BIMSTEC Chair: Dhaka https://artifex.news/article71454857-ece/ Fri, 11 Sep 2026 06:24:00 +0000 https://artifex.news/article71454857-ece/ Read More “India did not invite Bangladesh PM Rahman for BRICS; invite was for BIMSTEC Chair: Dhaka” »

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Bangladesh PM Tarique Rahman. File
| Photo Credit: Reuters

Bangladesh will not be represented at the BRICS summit in any official capacity, said Minister of State for Foreign Affairs of Bangladesh Humaiun Kobir on Thursday (September 10, 2026). Speaking to reporters in Dhaka, Mr. Kobir said that India had invited Prime Minister Tarique Rahman in his capacity as the head of BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) and not as the Prime Minister of Bangladesh.

Mr. Kobir’s explanation came as speculation continued on whether Bangladesh would send any representative to the BRICS summit for which India had extended an early invite to Bangladesh Prime Minister Rahman in August 2026.

“How shall we go? Has anyone from the Bangladesh government been invited? Our Prime Minister was not invited. Who told you that our Prime Minister was invited? The BIMSTEC Chair was invited. Then why are you asking this question?” remarked Mr. Kobir in response to questions from the media. India is the host of the 2026 BRICS summit and received global leaders like President Vladimir Putin of Russia, Prime Minister Anwar Ibrahim of Malaysia and several others.

Speaking to the media at the Foreign Service Academy in Dhaka, Mr. Kobir said that the first visit of Mr. Rahman to India can not be a multilateral one and that a bilateral visit will be planned at a “conducive” time.

Prime Minister Rahman was invited to visit India bilaterally immediately after he took office on February 17, 2026. In August, India invited the Country Chairs of Regional Organisations like BIMSTEC, ASEAN, the African Union, the Gulf Cooperation Council, the Community of Latin American and Caribbean States (CELAC) and the Eurasian Economic Union (EAEU).

On Thursday (September 10, 2026), the Ministry of External Affairs announced that the President of the Philippines, Ferdinand R. Marcos; the President of Burundi, Evariste Ndayishimiye; and the President of Kazakhstan, Kassym-Jomart Tokayev, will participate in the BRICS summit representing ASEAN, the African Union and the Eurasian Economic Union. CELAC and GCC will be represented by Mario Lubetkin, Foreign Minister of Uruguay and Abdullatif bin Rashid Al Zayani, Foreign Minister of Bahrain. The announcement did not feature any name for Bangladesh.

Bangladesh had earlier said that Delhi and Dhaka were in consultation for a possible visit by Mr. Rahman to India. However, the talks broke down after deposed Prime Minister Sheikh Hasina held a virtual press conference at the Foreign Correspondents Club (FCC) where she attacked the current government in Dhaka for the breakdown in law and order. The Ministry of Foreign Affairs in Dhaka had expressed “outrage” over the issue.



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Strait of Hormuz opening a welcome move: NSA Doval at BRICS 2026 https://artifex.news/article71136595-ecerand29/ Tue, 23 Jun 2026 10:32:00 +0000 https://artifex.news/article71136595-ecerand29/ Read More “Strait of Hormuz opening a welcome move: NSA Doval at BRICS 2026” »

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National Security Adviser Ajit Doval addresses the BRICS National Security Advisers’ meeting, in New Delhi, Tuesday, June 23, 2026.
| Photo Credit: PTI

The opening of the Strait of Hormuz is a very welcome move as it will help energy security, National Security Advisor Ajit Doval said on Tuesday (June 23, 2026) while welcoming counterparts from BRICS nations at a key conclave in New Delhi

Mr. Doval said freedom of navigation through the key shipping lane will benefit the countries of the region and beyond.

West Asia war LIVE updates: New Lebanon-Israel talks to begin, in shadow of U.S.-Iran deal

“India welcomes the MoU reached between the U.S. and Iran. We have got cautious optimism, and we hope that it will work. It will help energy security,” Mr. Doval said.

“The opening of the Strait of Hormuz is a very welcome development. It will remove supply chain bottlenecks and (address) shortages in sectors like fertilisers and chemicals,” he said.

Mr. Doval also delved into geopolitical tensions witnessed in various geographies and their impact on various countries.

“We are meeting at a very tumultuous time. The world is facing geopolitical uncertainties, economic strains, and disruptive technology,” Mr. Doval said.

“Not only that the threats are compounding, but the instruments and institutional mechanisms are increasingly finding themselves to be inadequate to resolve or mitigate these conflicts,” he said.

“Multilateralism is on the decline,” he said, adding BRICS has a major role to play in addressing various challenges.

“BRICS was conceived as an informal grouping of emerging economies to a more multipolar world order. It was to advance economic cooperation and strengthen the voice of the Global South,” he said.

Mr. Doval said BRICS also envisioned reforms in global governance and institutional improvements.

“BRICS is a very special coalition of countries that believe in peace, progress, development, and cooperation,” he added.

New Delhi is hosting the conclave in its capacity as the current chair of the influential grouping.

BRICS, originally comprising Brazil, Russia, India, China, and South Africa, expanded in 2024 to include Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE), with Indonesia joining in 2025.

BRICS has emerged as an influential grouping as it brings together 11 major emerging economies of the world, representing around 49.5 per cent of the global population, around 40% of the global GDP and around 26% of the global trade.



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Opening of Strait of Hormuz welcome move: NSA Doval at BRICS conclave https://artifex.news/article71136595-ece/ Tue, 23 Jun 2026 07:49:00 +0000 https://artifex.news/article71136595-ece/ Read More “Opening of Strait of Hormuz welcome move: NSA Doval at BRICS conclave” »

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National Security Adviser Ajit Doval addresses the BRICS National Security Advisers’ meeting, in New Delhi, Tuesday, June 23, 2026.
| Photo Credit: PTI

The opening of the Strait of Hormuz is a very welcome move as it will help energy security, National Security Advisor Ajit Doval said on Tuesday (June 23, 2026) while welcoming counterparts from BRICS nations at a key conclave in New Delhi

Mr. Doval said freedom of navigation through the key shipping lane will benefit the countries of the region and beyond.

West Asia war LIVE updates: New Lebanon-Israel talks to begin, in shadow of U.S.-Iran deal

“India welcomes the MoU reached between the U.S. and Iran. We have got cautious optimism, and we hope that it will work. It will help energy security,” Mr. Doval said.

“The opening of the Strait of Hormuz is a very welcome development. It will remove supply chain bottlenecks and (address) shortages in sectors like fertilisers and chemicals,” he said.

Mr. Doval also delved into geopolitical tensions witnessed in various geographies and their impact on various countries.

“We are meeting at a very tumultuous time. The world is facing geopolitical uncertainties, economic strains, and disruptive technology,” Mr. Doval said.

“Not only that the threats are compounding, but the instruments and institutional mechanisms are increasingly finding themselves to be inadequate to resolve or mitigate these conflicts,” he said.

“Multilateralism is on the decline,” he said, adding BRICS has a major role to play in addressing various challenges.

“BRICS was conceived as an informal grouping of emerging economies to a more multipolar world order. It was to advance economic cooperation and strengthen the voice of the Global South,” he said.

Mr. Doval said BRICS also envisioned reforms in global governance and institutional improvements.

“BRICS is a very special coalition of countries that believe in peace, progress, development, and cooperation,” he added.

New Delhi is hosting the conclave in its capacity as the current chair of the influential grouping.

BRICS, originally comprising Brazil, Russia, India, China, and South Africa, expanded in 2024 to include Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE), with Indonesia joining in 2025.

BRICS has emerged as an influential grouping as it brings together 11 major emerging economies of the world, representing around 49.5 per cent of the global population, around 40% of the global GDP and around 26% of the global trade.



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Donald Trump Feels The Heat From A Rising BRICS+, Threatens 100% Tariff https://artifex.news/donald-trump-feels-the-heat-from-a-rising-brics-threatens-100-tariff-7529128rand29/ Tue, 21 Jan 2025 23:43:12 +0000 https://artifex.news/donald-trump-feels-the-heat-from-a-rising-brics-threatens-100-tariff-7529128rand29/ Read More “Donald Trump Feels The Heat From A Rising BRICS+, Threatens 100% Tariff” »

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Washington DC:

Donald Trump has sniffed trouble brewing afar against the United States – one that may topple the US’s position as a dominant global power and end Washington’s ability to impose economic sanctions against those it deems fit for the case. The storm in question is the steadily-expanding BRICS+ grouping.

Within hours of taking office as President of the United States, Donald Trump went after the BRICS+, threatening to impose 100 per cent tariffs on member countries. The reason Washington feels threatened by the grouping is because it makes the US dollar, America’s greatest weapon – one it can actually use, vulnerable.

In recent times there have been reports of a possibility of the BRICS+ nations working on a common currency which would replace the US dollar for international trade. The founding members of the BRICS are Brazil, Russia, India, China, and South Africa – the acronym of which is BRICS. Over the years, several other countries have become members of the bloc, namely Egypt, Ethiopia, Iran, the United Arab Emirates (UAE), and Indonesia. Saudi Arabia has accepted the membership, but has not formally joined yet, saying that the matter is under consideration.

BRICS+, which is shaping up to be the developing world’s alternative to the West-led G7, has set up its own financial structure and institutions, and is cooperating economically and diplomatically to reduce its dependence on the US Dollar – the default currency for international trade.

Donald Trump has now said his administration will impose 100 per cent tariffs against countries of the BRICS+ bloc, should they take any steps to replace the US dollar. “If the BRICS nations want to do that (replace the US dollar), that’s okay, but we’re going to put at least a 100 per cent tariff on the business they do with the United States,” President Trump told the international media shortly after his presidential inauguration.

“They will have a 100 per cent tariff if they so much as even think about reducing the use of the US Dollar in global trade,” he threatened.

Less than a month before he took office, Mr Trump had made a similar reference warning the BRICS+ countries. “We require a commitment from these countries that they will neither create a new BRICS currency, nor back any other currency to replace the mighty US dollar or, they will face 100 per cent tariffs and should expect to say goodbye to selling into the wonderful US economy,” Donald Trump, then President-elect, had warned in December.

HOW THE US DOLLAR IS WEAPONISED IN SANCTIONS

The US Dollar, has for decades, been the world’s principal reserve currency. It has been the case since the Second World War, following which global institutions like the United Nations, World Bank, and International Monetary Fund, among many others were set up. All these institutions were set up in the United States – And America being the largest trading country of the world at that time led to US Dollar becoming the default currency for global trade.

In 1973, a new system was set up to moderate international transactions. This system is known as SWIFT, which is short for Society for Worldwide Interbank Financial Telecommunication. Since then, this has become the world’s commonly accepted and standardised model for international money transfers.

According to its website, SWIFT is a member-owned cooperative connecting more than 11,000 banks, financial institutions and corporations in more than 200 countries and territories. SWIFT is neither a payment nor a settlement system, and is therefore is not regulated as such by any of the world’s central banks.

SWIFT is overseen by the central banks of G10 nations – namely, Belgium, Canada, France, Germany, Italy, Japan, The Netherlands, United Kingdom, United States, Switzerland, and Sweden.

Since the US Dollar is the default currency of trade globally, and SWIFT is the method or channel of settlement, sanctions are imposed by controlling these two. Sanctions are imposed via SWIFT by restricting access to the network or completely prohibiting individuals, institutions, and countries from using its services. When sanctions are imposed, it completely freezes an account and restricts any further transactions from it.

SWIFT sanctions can freeze any bank’s ability to transact with the rest of the world. Under an international rules-based order, much of the global financial governance is dominated by the US-led West.

MULTI-POLAR WORLD

In the 21st Century, with the rise of Asia, and economies like China, India, Russia, Indonesia, UAE, Saudi Arabia, and others, the world has become much more multi-polar, instead of being bipolar – which was the case during the Cold War between the US and USSR through much of the 20th Century, post the two world wars in the first half of the century.

Brazil in South America and South Africa in Africa were also rising global economies.

With time, emerging economies became increasingly disgruntled with the dominance of the US Dollar being the default in almost all global transactions. This also kept them under a constant threat of Western sanctions, should they not two the line. To deal with this, BRICS leaders have for long reportedly advocated for de-dollarisation, and been in favor of increased trade in local currencies and even reportedly explored the possibility of a potential common BRICS currency.

The BRICS members have even set up the New Development Bank (NDB) and the Contingent Reserve Arrangement or CRA – which act and function exactly like the World Bank and the International Monetary Fund or IMF, respectively.

The so-far 10-member BRICS+ grouping already comprises nearly half of the world’s population and over a third of the global economy. It also has more than 25 per cent of the world’s landmass, produces more than 30 per cent of the world’s oil output and is on track to surge ahead of the G7 economies in less than 20 years.
 




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