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BRICS Foreign Ministers Meeting: Highlights & Global Trade Shake-Up 🌐

The recent BRICS foreign ministers’ meeting in Rio de Janeiro brought together leaders from South Africa, Saudi Arabia, Brazil, China, Egypt, UAE, Ethiopia, Indonesia, India, Iran, and Russia — and while not all views aligned, the discussions were anything but dull. Here's the lowdown:

Top Takeaways:

💱 Local Currency in Focus:
A major push was made to encourage trade and settlements using local currencies within the bloc. Could this mark a serious step toward de-dollarization?

⚠️ De-dollarization Still Distant:
While the sentiment is growing, ministers treaded carefully. There’s momentum, but plenty of obstacles remain in replacing the US dollar's dominance.

🚨 Trump’s Tariff Threat:
Ex-President Trump warned of 100% tariffs if BRICS shifts away from the dollar — a move that could spark serious economic friction. But the bloc seems undeterred.

🗣️ Russia’s Take:
FM Sergey Lavrov clarified: it's too early to talk about a unified BRICS currency, underlining the complexity of such a move.

⚖️ Backing the WTO:
The ministers called for strengthening the WTO and opposing protectionism, reinforcing the need for fair, rules-based trade.

♻️ Climate Commitment:
Reaffirmed dedication to the Paris Agreement, calling for unified action on climate change and sustainability.

Global Trade Implications:

With rising calls for financial independence and multipolar trade, BRICS is signaling a new direction. But with US resistance and internal differences, the road ahead is bumpy.

Your Turn:
Do you think BRICS can build a real alternative to dollar-dominated trade?
Or is de-dollarization just a distant dream?

Sound off below!
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