BRICS Crypto Expansion: Six New Countries Join in 2024

• BRICS Alliance Announces Future Expansion Plans
• Confirmation of 2024 Expansion Plan
• BRICS: Impact on Global Power Dynamics
• BRICS' Global Purpose and Future Expansion

BRICS Alliance Announces Future Expansion Plans

In a historic revelation during the 2023 annual summit, the BRICS alliance declared plans to expand its membership by six countries. Saudi Arabia, the United Arab Emirates (UAE), Iran, Argentina, Egypt, and Ethiopia were subsequently invited to join the alliance. Recently, India's Minister of External Affairs confirmed that BRICS is prepared for another six-country expansion in 2024.

Confirmation of 2024 Expansion Plan

At a recent event, Subrahmanyam Jaishankar, India's Minister of External Affairs, confirmed that the BRICS bloc has concurred on another extension for their next full meeting. He refrained from disclosing the new countries to be included, but affirmed the number of countries.

BRICS: Impact on Global Power Dynamics

In recent years, BRICS' geopolitical maneuvers have captured significant attention, most notably its objective to disrupt the current global power balance. The alliance created a significant impact with its expansion plan during the recent summit, and it has been officially confirmed that this will not be the last of its kind.

India's Minister of External Affairs reaffirmed that the BRICS bloc will go ahead with another six-country expansion plan in 2024, noting that the alliance has already reached a consensus on the matter. Of the six countries invited last year, only one declined the invitation.

BRICS' Global Purpose and Future Expansion

Jaishankar elaborated on BRICS' global objectives, emphasizing that the alliance believes that the world cannot be run by seven countries. He described the alliance's efforts to amplify its voice in international affairs, which is consistent with its aim to foster multipolarity in the global structure.

While there is no clear indication of which nations will be included in the upcoming expansion, numerous countries have expressed interest in joining the alliance in the past year. Pakistan and Nigeria, in particular, have been vocal about their desire to join. Regardless of the countries that will be included, it has been confirmed that another round of expansion is undeniably in the works.

Edited by Jonathan Stoker