Iran and Five Arab States Want to Become Members of BRICS 

According to a recent report by The Cradle, Algeria, Bahrain, Egypt, Iran, Saudi Arabia, and the United Arab Emirates have formally requested to join the BRICS block of nations as its annual summit in South Africa approaches. 

Altogether, 19 nations have manifested interest in joining the economic block made up of Brazil, Russia, India, China, and South Africa, per Anil Sooklal, South Africa’s ambassador to BRICS.

“What will be discussed is the expansion of BRICS and the modalities of how this will happen… Thirteen countries have formally asked to join, and another six have asked informally. We are getting applications to join every day,” the South African official recently said to Bloomberg earlier this week.

In the first week of June, BRICS will celebrate its yearly summit in Cape Town. The foreign ministers from all BRICS member states have confirmed their participation in this event. 

Over the last year, a growing number of countries have gradually moved away from the dollar as they sense that the US has grown more unstable on the domestic and international fronts.

The economic situation is very volatile currently. The Russo-Ukrainian war has caused a massive energy shock on a global scale, which was exacerbated by the Collective West’s sanctions campaign against Russia and its energy sector. 

All good things come to an end. Should the West continue its quixotic military campaigns abroad, let the central bank printing presses continue running, and maintain their profligate welfare states, an economic collapse is on the cards. From there, non-Western countries will look for alternatives as far currencies and economic organizations are concerned. 

They will have no choice but to set up parallel economic structures in order to deal with the hypothetical scenario of Western decline.

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