BRICS Members Agree On Bloc's Expansion, Ramaphosa To Hold Presser Shortly

With wires reporting that BRICS countries have reached agreement on the bloc's expansion, the Mail & Guardian circulated a report suggesting that at least four countries have received endorsement from all five member states to be come permanent members of the bloc, with President Cyril Ramaphosa set to announce the decision this morning.

• The Mail & Guardian reported that Saudi Arabia, Egypt, the United Arab Emirates and Argentina could become permanent BRICS members. Saudi Arabia is seen as the key addition to the group. According to the South African news outlet, "Saudi’s high ranking politicians, including its monarch, are alleged to have landed in the country on Wednesday morning."
• However, Indonesia "is said to have declined joining at the last minute," while various sanctions imposed on Iran are a key stumbling block for the country's membership. According to the M&G, "debate around whether Iran should join the group lasted throughout Tuesday night with the Brics nations ending its retreat without a consensus on whether the Iranians should join."
• Note that President Cyril Ramaphosa, acting in his capacity as the Chair of BRICS, will announce the outcomes of the 15th BRICS Summit during a special press conference this morning. The presser is scheduled to start at 07:45BST/08:45SAST and can be watched under this link.