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BRICS Foreign Ministers To Meet In Russia In June

GLOBAL POLITICAL RISK

Russian news services have confirmed that foreign ministers from the BRICS grouping will meet in Nizhniy Novgorod, Russia in June - one of roughly two-hundred events Russia will host as president of the bloc - leading up to the 16th BRICS Summit in Kazan in October.

  • According to Interfax, Russian Deputy Foreign Minister, and BRICS Sherpa, Sergei Ryabkov said: "Five countries, Egypt, Ethiopia, Iran, the United Arab Emirates and Saudi Arabia, became full-fledged members of BRICS in January 2024. It is a great honor for me to welcome you to the BRICS family. We hope that each of you will be able to benefit from this important step, which can be described as a turning point without any exaggeration."
  • Last year's BRICS Summit in South Africa hinted at a major geopolitical recalibration raising concerns in Washington and Europe that western-leaning countries Saudi Arabia, Egypt, the UAE, and Argentina, may be drawn closer to Russia and China and elevate BRICS as a credible political counterweight to the G7.
  • A decision in December by newly elected Argentine President Javiar Milei to abandon membership and mixed reports of vacillation from Gulf states has since punctured that optimism but Russia's presidency offers an opportunity to further develop BRICS and ease international isolation on Moscow by hosting world leaders at a major multilateral summit for the first time since the 2022 invasion of Ukraine.

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