The foreign ministers of the BRICS countries gathered on June 10, 2024, in Nizhny Novgorod, Russian Federation for a two-day meeting chaired by Russian Foreign Minister Sergey Lavrov. Representatives from the ten member states and other countries considered friends of BRICS, including the Islamic Republic of Iran, were in attendance. During the meeting, the ministers reaffirmed their commitment to fostering energy cooperation within the BRICS countries, emphasizing the importance of ensuring universal access to affordable and reliable energy for economic development, social stability, national security, and the well-being of all nations.
BRICS, originally consisting of Brazil, Russia, India, China, and South Africa, expanded in early 2024 to include Iran, Ethiopia, Egypt, and the United Arab Emirates. Saudi Arabia received an official invitation to join the forum in 2023 but has yet to confirm membership. Argentina declined an invitation following opposition from its President Javier Milei.
Established in 2009, the BRICS economic bloc serves as an alternative to Western-dominated international institutions and surpassed the G7 countries in terms of total GDP based on purchasing power parity in 2020. As of 2023, BRICS accounted for 32% of global GDP.
The acting foreign minister of Iran, Ali Bagheri Kani, participated in the meeting. To learn more, visit: BRICS working on platform for national currency transactions: Lavrov
