During its 2023 summit, BRICS invited Saudi Arabia, the United Arab Emirates (UAE), Iran, Egypt, Argentina, and Ethiopia to join. Four of those six nations joined the BRICS bloc to work in abandoning the US Dollar as the leading reserve currency in 2024. With another summit scheduled for later this year, more nations are expected to join BRICS+ in its de-dollarization mission.
For much of the last year, the growth of the BRICS alliance was a major talking point. the most important geopolitical event of the year, the alliance grew from five members to nine, with Saudi Arabia potentially making ten soon. Furthermore, they are expected to continue that growth effort. Just a few months ago, India confirmed that the alliance has already agreed to another six-nation expansion plan. These new nations will look to push towards full abandonment of the US Dollar as a reserve currency.
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