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A recent statement made by a diplomat indicates that the BRICS 2024 summit will focus mainly on the de-dollarization agenda. The BRICS 2024 summit is scheduled to be held in October in the Kazan region of Russia. The 16th summit will see four new countries being a part of the meeting including the United Arab Emirates , Egypt, Iran, and Ethiopia. Saudi Arabia could also attend the upcoming summit if the Kingdom agrees to be a part of the grouping. For the uninitiated, Saudi Arabia received
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BRICS member Russia is pushing the de-dollarization initiative in Africa urging nations to trade in local currencies and not the US dollar. Russia’s President Vladimir Putin vigorously called for African countries to start using local currencies for trade, including the Russian Ruble. Putin explained that Russia is “ready to work” with African countries to help them shift away from the US dollar. He added that BRICS can help Africa build its financial infrastructure by connecting its global bank
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