Russia’s Foreign Minister, Sergey Lavrov, reiterated his support for Brazil’s bid for a permanent seat on the United Nations Security Council during a press conference on April 17th. Lavrov, who had just finished talks with his Brazilian counterpart, Mauro Vieira, also expressed Russia’s support for India and the interests of the African continent.
Lavrov noted that Brazil’s upcoming presidency of the Group of 20 next year, as well as Russia’s chairmanship of BRICS, creates a unique opportunity for coordinating foreign policy activities. He emphasized the need for mutual benefits among all BRICS members, which are also part of the G20, and highlighted the fact that there is a group of G20 members who share the positions of BRICS countries on crucial issues.
The BRICS nations – Brazil, Russia, India, China, and South Africa – have been pushing for a more prominent role in global governance and have developed a bank to support their aims. The New Development Bank, launched in 2014, aims to fund infrastructure projects in emerging economies and promote trade among the BRICS countries. The bank has also been seen as a way to challenge the dominance of the US dollar and the euro as global reserve currencies.
Moreover, there have been discussions among the BRICS nations about the possibility of creating a new global currency to reduce dependence on the US dollar. The idea of a BRICS currency was first proposed in 2010 by China, and the concept has gained traction in recent years.
If the BRICS countries were to create a global currency, it could have significant implications for the global economy and the balance of power in international relations. It remains to be seen whether such a currency will materialize, but the BRICS nations are certainly making their presence felt on the global stage.
