30 Nations Set to Join BRICS in 2024, Russia Confirms

• BRICS Expansion: Five More Nations on Board as of January 2024
• Potential Further Expansion at the Next Summit
• BRICS Potential Growth to 40 Member Nations
• BRICS in 2024: An Insight from President Putin
• No Specifics Yet on Applying Nations
• Next BRICS Summit Could Define Future Expansion

BRICS Expansion: Five More Nations on Board as of January 2024

In a significant move, BRICS welcomed five new countries into its fold in January 2024. The new additions include Saudi Arabia, the United Arab Emirates, Egypt, Iran, and Ethiopia. This expansion comes despite Argentina's decision to turn down an invitation to join BRICS that was extended in August of the previous year. With these new inclusions, the BRICS bloc now comprises ten member countries.

Potential Further Expansion at the Next Summit

There are indications that the bloc is poised for further expansion at the 16th summit, set to take place in Russia's Kazan region. The summit, scheduled for October, comes with anticipation as Russia's President, Vladimir Putin, confirmed that 30 new countries have exhibited interest in joining the alliance.

BRICS Potential Growth to 40 Member Nations

If BRICS gives the green light to all 30 applicant nations in 2024, the bloc could see its membership swell to a robust 40 nations. Such an increase could significantly enhance the financial power and global GDP of the group, potentially rivaling the US dollar and other Western alliances.

BRICS in 2024: An Insight from President Putin

In a recent press conference, President Putin reiterated the interest of these 30 countries in joining BRICS. He said, Of course, we will consider the degree to which many other countries, about 30 of them, are prepared to join the BRICS multi-dimensional agenda in one form or another. To this end, we will start working on the modalities of a new category of BRICS partner country."

No Specifics Yet on Applying Nations

While President Putin confirmed that 30 new countries have formally applied for BRICS membership in 2024, he declined to name the countries ready to join the alliance.

Next BRICS Summit Could Define Future Expansion

The BRICS summit in October 2024 may be crucial in deciding the bloc's future expansion. Post 2025, the alliance could pose a formidable challenge to the US dollar, potentially destabilizing Western financial superiority. The question remains though, will BRICS succeed in disrupting the US dollar's dominance, or will it face hurdles in the years to come? Only time will tell.

Edited by Jonathan Stoker