BRICS Sees Surge in Membership Applications Amid Expansion

Russia oversees the group's growth as six new countries join, challenging the US-dominated international system.

BRICS, the economic group backed by China and Russia, has seen a surge in membership applications, with 34 countries expressing interest in joining the bloc.
Russia has taken over the rotating chairmanship of the group this year and is overseeing the expansion, which is seen as a win for both China and Russia.
Six new countries, including Iran, Saudi Arabia, the United Arab Emirates, Ethiopia, and Egypt, have recently joined the group, while Argentina declined the invitation.
The expansion of BRICS is seen as an alternative to the US-dominated international system, with the group pushing for more diplomatic and financial coordination, including a move away from a US dollar-dominated trade system.
Finance ministers are working to develop the use of local currencies for payments between member states and international payment platforms.