Recent statements by diplomats suggest that the 2024 BRICS summit will primarily focus on the de-dollarization agenda. The 2024 BRICS summit is scheduled to be held in Russia’s Kazan region in October. The 16th summit will see the addition of four new countries. Including the United Arab Emirates (UAE), Egypt, Iran, and also Ethiopia. Saudi Arabia could participate in the next summit if it agrees to join the group.

For the uninitiated, Saudi Arabia has received an invitation to join BRICS. But has not yet announced its decision to join. If Saudi Arabia joins, de-dollarization efforts may be further strengthened. Read here that many sectors in the US will be affected. If the BRICS countries abandon the dollar in favour of trade.

BRICS Summit 2024: De-dollarization to Spread its Wings 

Russian Deputy Foreign Minister Sergei Ryabkov said in a recent interview that the 2024 BRICS Summit. Will reach a historic milestone. He explained that the alliance would “become even stronger” after the 2024 summit. Which will bring about a “multipolar world” for developing countries. The idea of ​​a multipolar world is key to de-dollarization, where BRICS countries end their dependence on the US dollar. 

Mr Ryabkov said he believed that the BRICS countries were “on track for success” and that de-dollarization policies would be detrimental. “After one-third of the presidential term, we see that heads of state and government have taken decisions that significantly strengthen the BRICS countries, establishing themselves as an influential cooperative system. “It is an important link in the new architecture of the world,” he said.

The Minister added: I am confident that we are gradually approaching success.” “I believe that the summit in Kazan this October will mark new achievements in cooperation between the BRICS countries,” he concluded.