by Karen Faulkner, Worthy News Correspondent
(Worthy News) – The annual BRICS Municipal Conference in Russia this October is expected to draw representatives from 126 nations with a view to possibly joining the bloc and leaving the US dollar for a new BRICS common currency.
BRICS is an intergovernmental, geopolitical bloc that has coordinated multilateral policies since 2009. Originally comprising Brazil, Russia, India, China and South Africa, the BRICS bloc now includes Argentina, Iran, Saudi Arabia Iran, Egypt, Ethiopia, and the United Arab Emirates as well.
Ahead of October’s annual summit, the Brazil’s President last month called for BRICS nations to create a common currency for trade and investment among themselves in order to reduce their susceptibility to US dollar exchange rate fluctuations, Reuters reported in August.
However, Reuters noted in its report last month, the dollar continues to dominate world trade. “De-dollarising would need countless exporters and importers, as well as borrowers, lenders and currency traders across the world, to independently decide to use other currencies,” Reuters said.
Nevertheless, the growing number of developing countries that are interested in joining BRICS and ending their dependence on the US dollar for trade may ultimately amount to a challenge to the US dollar’s hegemonic status.
Copyright 1999-2026 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
Latest News from Worthy News
A Protestant pastor held in incommunicado detention for almost six months in Nicaragua has been released, Christians confirmed Thursday.
U.S. forces have seized another sanctioned oil tanker in the Caribbean Sea, underscoring the Trump administration’s tightening grip on Venezuela’s oil sector as opposition leader Maria Corina Machado prepares to meet President Donald Trump.
Iran abruptly shut down its airspace to commercial traffic early Thursday and the United States began repositioning military forces and personnel across the Middle East as President Donald Trump weighs potential action against Tehran amid a deadly crackdown on nationwide protests, escalating threats to U.S. bases, mass evacuation warnings, and growing signs that Washington and its allies are preparing for a possible regional confrontation.
President Donald Trump warned Thursday that he is prepared to invoke the Insurrection Act if Minnesota’s Democratic leadership fails to halt escalating violence against federal law-enforcement officers amid ongoing Immigration and Customs Enforcement operations in the state.
The United States will indefinitely suspend immigrant visa processing for applicants from 75 countries beginning January 21, the U.S. Department of State announced Wednesday, marking a significant expansion of the Trump administration’s immigration restrictions.
China is reassessing its strategy in Latin America following the U.S.-led removal of Venezuelan leader Nicolás Maduro, a move that abruptly dismantled Beijing’s most important foothold in what it increasingly views as Washington’s backyard, according to an exclusive report by The Wall Street Journal.
U.S. Secretary of War Pete Hegseth vowed Monday to dismantle Pentagon bureaucracy slowing artificial intelligence development, unveiling a sweeping push to deliver AI capabilities to U.S. warfighters at speed during a speech at SpaceX’s Starbase launch site in Texas.