Iranian President Pezeshkian to attend BRICS summit in Russia

Reuters reported the information.

 Reuters notes that this comes amid tensions with the West caused by military cooperation between Russia and Iran.

“U.S. Secretary of State Antony Blinken said on Tuesday that Russia had received ballistic missiles from Iran and was likely to use them in Ukraine within weeks. Cooperation between Moscow and Tehran threatened wider European security,” they add in the material.

The BRICS summit is scheduled to take place in Kazan, Russia, in October.

• On September 2, it was reported that Turkey has officially applied to join the BRICS group of emerging-market nations.

BRICS: background

Brazil, Russia, India, and China are the founding members of BRICS, with South Africa joining later. The acronym BRICS stands for Brazil, Russia, India, China, and South Africa. Beyond geopolitics, the group focuses on economic cooperation, increasing multilateral trade, and development.

The term BRICS was coined in 2001 by Jim O'Neill, then chief economist at Goldman Sachs, in a research article that highlighted the growth potential of Brazil, Russia, India, and China. The bloc was established as an informal club in 2009 to create a platform for its members to challenge the world order dominated by the United States and its Western allies.

Its creation was initiated by Russia. The group is not a formal multilateral organisation like the United Nations, the World Bank or the Organisation of the Petroleum Exporting Countries (OPEC). The heads of state and government of the participating countries meet annually, and each country assumes a one-year chairmanship of the group.

It should be noted that South Africa, the smallest member in terms of economic influence and population, was the first country to benefit from the expansion of the bloc in 2010, when the grouping became known as BRICS.