ClimateCommitment

😱💥F𝐁𝐑𝐈𝐂𝐒 𝐅𝐨𝐫𝐞𝐢𝐠𝐧 𝐌𝐢𝐧𝐢𝐬𝐭𝐞𝐫𝐬 𝐀𝐝𝐯𝐨𝐜𝐚𝐭𝐞 𝐟𝐨𝐫 𝐋𝐨𝐜𝐚𝐥 𝐂𝐮𝐫𝐫𝐞𝐧𝐜𝐢𝐞𝐬 𝐚𝐧𝐝 𝐖𝐓𝐎, 𝐔𝐫𝐠𝐞 𝐅𝐫𝐞𝐞 𝐓𝐫𝐚𝐝𝐞 𝐀𝐦𝐢𝐝 𝐆𝐥𝐨𝐛𝐚𝐥 𝐓𝐞𝐧𝐬𝐢𝐨𝐧𝐬❗❗
Following a meeting in Rio de Janeiro, the BRICS foreign ministers—representing South Africa, Saudi Arabia, Brazil, China, Egypt, UAE, Ethiopia, Indonesia, India, Iran, and Russia—concluded without issuing a joint declaration due to a lack of consensus, as stated by Brazilian Foreign Minister Mauro Vieira.

Instead, the Brazilian presidency released a statement noting the ministers’ shared emphasis on expanding the use of local currencies in trade and financial settlements within the bloc and with partners. While discussions on de-dollarizing trade progressed cautiously, the topic sparked tensions, especially in light of former U.S. President Donald Trump’s threats of imposing 100% tariffs if the bloc continued down that path—a stance raised during last year’s summit in Kazan, Russia.

Russian Foreign Minister Sergei Lavrov cautioned that it was still “premature to discuss the transition to a single currency” within BRICS.

The statement also reaffirmed the ministers’ unified commitment to strengthening the World Trade Organization (WTO), described as the sole institution capable of setting global trade rules. They voiced strong concern over the rise of unilateral protectionist measures that violate WTO norms, such as indiscriminate tariff and non-tariff increases.

Despite differences, the group achieved full consensus on trade-related disputes and tariffs, emphasizing the need to defend free trade and the multilateral system. On climate issues, ministers called for countries to uphold their obligations under the Paris Agreement and to intensify efforts to fight climate change.

#BRICS2025 #DeDollarization #FreeTrade #ClimateCommitment