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2d ago

Understaffed BRICS Summit in Rio Advances De-Dollarization and Security Reform

With Putin and Xi represented by deputies in Rio, BRICS members pressed for currency alternatives to the dollar, outlining plans for reform of global security bodies.

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Brasiliens Präsident Luiz Inacio Lula da Silva
Brasilianische Soldaten patrouillieren in der Nähe des Amanha Museums vor dem BRICS-Gipfel in Rio de Janeiro.

Overview

  • Russia and China sent deputies in place of Presidents Putin and Xi, marking the first time both leaders have missed an in-person BRICS summit.
  • The summit declaration denounced recent military strikes on Iran’s nuclear facilities as violations of international law and United Nations resolutions.
  • Member states deepened talks on reducing reliance on the US dollar, including preliminary discussions on a shared BRICS currency to facilitate intra-bloc trade.
  • Delegations committed to expanding cooperation on health, climate action and artificial intelligence governance over the two-day meeting.
  • Brazil’s host government prioritized reform of the multilateral peace and security system, proposing updates to UN mechanisms to reflect a multipolar world order.