De-Dollarization Main Agenda of BRICS 2024 Summit

Vinod Dsouza
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A recent statement made by a diplomat indicates that the BRICS 2024 summit will focus mainly on the de-dollarization agenda. The BRICS 2024 summit is scheduled to be held in October in the Kazan region of Russia. The 16th summit will see four new countries being a part of the meeting including the United Arab Emirates (UAE), Egypt, Iran, and Ethiopia. Saudi Arabia could also attend the upcoming summit if the Kingdom agrees to be a part of the grouping.

Also Read: What De-Dollarization? US Dollar Bulldozes BRICS Currencies

For the uninitiated, Saudi Arabia received an invitation to join BRICS but is yet to provide its decision on joining the group. If Saudi Arabia joins the bloc, the de-dollarization initiatives could further strengthen. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade.

Also Read: BRICS To Announce Membership of New Countries in 2024

BRICS 2024 Summit: De-Dollarization To Spread Wings

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Source: Watcher Guru

Russian Deputy Foreign Minister Sergey Ryabkov said in a latest interview that the 2024 BRICS summit will achieve historic milestones. He explained that the alliance will become “much stronger” after the 2024 summit ushering developing nations into a “multi-polar world”. The idea of a multi-polar world is the key to de-dollarization where BRICS countries will end reliance on the US dollar.

Also Read: BRICS: Another Country Officially Ditches the US Dollar

Ryabkov said he is confident that BRICS will move “toward success” and be detrimental to the de-dollarization agenda. “With a third of our presidency over, we can state that the leaders made a decision, which made BRICS much stronger. It has established itself as an influential cooperation system. A major link in the emerging architecture of the multi-polar world,” he said.

Moreover, the Minister added, “We are incrementally moving toward success. I am absolutely sure of that,” he said. “I think that the summit in Kazan this October will be marked by new achievements in cooperation between BRICS countries,” he summed it up.