Tag: New Development Bank

BRICS May Add More Countries to the Group. Here’s What to Know.

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Dozens of countries have expressed interest in joining BRICS, a group encompassing Brazil, Russia, India, China and South Africa that views itself as a counterweight to the West, and is meeting this week in Johannesburg. Argentina, Egypt, Indonesia and Saudi Arabia are thought to be among those most likely to be admitted. Iran has also expressed interest. China’s leader, Xi Jinping, backs expanding the group. But Prime Minister Narendra Modi of India is said to be concerned about adding nations close to Beijing; India and China have border disputes and…

At BRICS Summit, Putin Tries to Rally Support

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The five-nation BRICS summit is focused on whether to expand the club and how to be a counterweight to Western powers, but the meeting opened in Johannesburg on Tuesday in the shadow of Russia’s invasion of Ukraine, with President Vladimir V. Putin attempting to rally the members via video to Moscow’s side. In a speech to fellow leaders of the Brazil, Russia, India, China and South Africa group, Mr. Putin blamed the West for Russia’s exit from an agreement on Ukrainian grain exports that had helped stabilize global food supplies…