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4d ago

BRICS Summit in Rio Formalizes Three-Tier Membership and Advances De-Dollarization

Brazil’s presidency used the summit to outline six priorities guiding the bloc toward deeper global influence.

Lula reivindica a los BRICS como alternativa ante \"colapso\" del multilateralismo.

Overview

  • The summit confirmed a three-tier structure encompassing founding members, 2024 joiners and bank-affiliated partners.
  • Under Brazil’s leadership, BRICS set strategic priorities on trade, investment, climate action, AI governance, peace and institutional development.
  • Member states committed to diversify away from the dollar, with Russia reporting 90% of BRICS payments in friendly currencies and unveiling plans for an independent payment system.
  • The bloc condemned Israel’s actions in Gaza, demanded an immediate cease-fire and denounced terrorist acts by Hamas.
  • With Putin sidelined by an ICC warrant and Xi occupied elsewhere, Presidents Lula and PM Modi emerged as summit leaders, and Lula hinted at a 2026 re-election bid.