By Gloria Ogbonna
The BRICS coalition, led by Russia this year, is gearing up for a critical summit in Kazan, Russia, with major geopolitical issues on the table.
The summit will bring together the heads of BRICS nations, including Russia, China, India, South Africa, and new members like Iran, Egypt, the UAE, and Ethiopia.
The primary focus will be the creation of a dollar-free economic system, a response to U.S. dominance in global finance, and how BRICS can navigate the conflict in Gaza, where Israel’s defense operations against Hamas continue to stir global tensions.
One notable absence from the summit will be Brazil’s President Luiz Inácio Lula da Silva, who is recovering from a significant head injury.
However, leaders from aspiring BRICS nations, including Zimbabwe, Venezuela, Cuba, and Syria, will be in attendance, eager to join the growing anti-U.S. coalition.
Key Issues: Dollar Dominance and the Israeli-Palestinian Conflict
The weakening of the U.S. dollar will dominate discussions, as BRICS nations continue their push for a parallel global financial system.
Russia, facing heavy sanctions from the West, has long advocated for an alternative to the global SWIFT payment system and for a new currency to reduce reliance on the dollar.
While Russian President Vladimir Putin has noted that the BRICS currency remains a long-term goal, the summit is expected to focus on creating an anti-SWIFT mechanism that could ease sanctions pressure on BRICS members.
Putin stressed that the West’s sanctions have had a negative global impact, stating, “The entire world is thinking whether the dollar is worth using.” Russia, with allies like China and Iran, is keen to accelerate efforts to undermine the U.S.-led financial system, which they view as politically motivated.
Adding to the geopolitical weight of the summit, Israel’s ongoing military operations in Gaza will be a major topic of discussion. Iran, a key supporter of Hamas, has already confirmed that it will raise the issue of Israel’s “crimes” against Palestinians.
Russia’s Foreign Ministry indicated that Gaza and other pressing conflicts will be on the agenda for a private meeting of BRICS leaders.
India, however, remains the outlier among BRICS nations when it comes to Israel. It has strongly supported Israel’s right to defend itself in Gaza following the Hamas-led attacks on October 7, 2023, leading to tensions within the BRICS coalition.
Iranian leader Ayatollah Ali Khamenei has openly criticized India, labeling it an “enemy of Islam,” sparking diplomatic friction between the two nations.
BRICS Expansion: Challenges and Opportunities
Another major focus of the summit will be the potential inclusion of new members into the BRICS coalition.
Over 30 nations have expressed interest in joining, ranging from struggling economies like Zimbabwe and Cuba to regional powers such as Turkey and Nigeria.
While expansion offers the potential to bolster BRICS’ economic influence, particularly in oil-rich countries like Nigeria, the inclusion of financially struggling nations may pose significant risks.
To navigate these concerns, Russia has proposed a “partnership” status for countries that wish to cooperate with BRICS without becoming full members.
Putin’s foreign policy aide acknowledged that current members have divergent views on expansion, making the issue one of the more contentious topics at the summit.
China has been a vocal advocate for expansion, pointing out that BRICS now represents over 35% of global GDP, surpassing the G7 in terms of purchasing power parity.
Yet, the entry of nations like Cuba and Zimbabwe could potentially undermine the group’s economic standing, especially as some member nations, like Ethiopia and Egypt, face severe financial challenges.
Conclusion: A New Economic and Geopolitical Frontier?
As BRICS leaders convene in Kazan, the coalition faces significant challenges in balancing its ambition to weaken the U.S. dollar with the complexities of expanding its membership. With growing geopolitical rifts, particularly regarding Israel and Iran, the summit will test the unity of the coalition.
The decisions made at this meeting could signal a turning point in the global economic and political order, as BRICS looks to challenge U.S. dominance on multiple fronts.
Source Breitbart
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