At the recent BRICS Summit, Russian President Vladimir Putin proposed an alternative to the U.S. dollar for international trade among BRICS nations (Brazil, Russia, India, China, and South Africa). His vision includes developing a new currency or expanding the use of national currencies like the Chinese yuan and the Indian rupee in cross-border transactions. This move aims to reduce the dominance of the dollar in global trade, especially as BRICS seeks to counter Western sanctions and assert more control over their economies. The proposal aligns with broader discussions within BRICS about establishing a multipolar world order and reducing dependency on Western financial systems. While no immediate action was taken at the summit, the proposal marks a significant shift in geopolitical strategy and global economic policy.

Brazil and India want to keep BRICS neutral rather than becoming outright anti-western

Brazil and India have expressed a desire to maintain BRICS as a neutral economic and political forum, avoiding any alignment that could be perceived as explicitly anti-Western. At the recent BRICS Summit, both nations emphasized their focus on economic cooperation, development, and addressing global challenges, rather than engaging in geopolitical competition with the West.

Brazil’s President, Luiz Inácio Lula da Silva, has stressed the importance of multilateralism, aiming for balanced relations between BRICS and Western countries. Similarly, Indian Prime Minister Narendra Modi has pushed for a more pragmatic approach, prioritizing trade, technology, and cooperation over taking a confrontational stance against Western powers. Both countries benefit from positive relations with the U.S. and Europe and are keen to ensure that BRICS remains a platform for advancing their economic and development agendas without becoming a vehicle for anti-Western rhetoric, which is more strongly advocated by China and Russia within the bloc.

Their stance reflects the broader diversity of BRICS, where member countries have different economic and strategic interests, and their approach to global diplomacy often varies.

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