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Iran, Saudi Arabia to join China and Russia in the BRICS economic bloc

6 nations invited to join in move that could double membership
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and were among six countries invited Thursday to join the in a move that showed signs of strengthening a China-Russia coalition as tensions with the West spiral higher.

The United Arab Emirates, Argentina, Egypt and Ethiopia were also set to enter BRICS from Jan. 1, 2024, joining current members Brazil, Russia, India, China and South Africa to make an 11-nation bloc.

The announcement came after two days of talks at a summit in Johannesburg involving Brazilian President Luiz In谩cio Lula da Silva, Indian Prime Minister Narendra Modi, and South African President Cyril Ramaphosa. participated in the discussions virtually after his travel to the summit was complicated by an issued against him over the war in Ukraine.

Putin welcomed the six countries by video link. He did not mention that left Russian mercenary chief and some of his top lieutenants presumed dead.

While there has been momentum for a BRICS expansion for months - pushed largely by China and Russia - the five leaders were locked in closed-door discussions for two days Tuesday and Wednesday before emerging with an agreement on expanding and a list of countries on the last day of the summit.

BRICS is a consensus-based organization that needs all members to agree on decisions.

The bloc was formed by Brazil, Russia, India and China in 2009 and added South Africa in 2010, making Thursday含羞草研究社檚 announcement in the heart of Johannesburg含羞草研究社檚 high-rise Sandton financial district its most significant decision in more than a decade.

Mohammad Jamshidi, the political deputy of Iran President Ebrahim Raisi, called joining BRICS a 含羞草研究社渟trategic victory for Iran含羞草研究社檚 foreign policy.含羞草研究社

含羞草研究社淔elicitations to the Supreme Leader of Islamic Revolution and great nation of Iran,含羞草研究社 Jamshidi wrote on X, the website formerly known as Twitter.

Raisi attended the summit, as did Saudi Foreign Minister Prince Faisal bin Farhan, who said the oil-rich kingdom could be a leader of the bloc given its resources, wealth and access to the Red Sea and Persian Gulf.

However, in a twist, Saudi Arabia含羞草研究社檚 membership appeared uncertain after Prince Faisal told the Saudi-owned broadcaster Al Arabiya later Thursday that the kingdom appreciated the invitation but would first study the details before the proposed Jan. 1 joining date and take 含羞草研究社渢he appropriate decision.含羞草研究社

BRICS currently represents around 40% of the world含羞草研究社檚 population and more than a quarter of the world含羞草研究社檚 GDP, with that set to increase. The potential new members include three of the world含羞草研究社檚 biggest oil producers: , the UAE and Iran.

含羞草研究社淭his membership expansion is historic,含羞草研究社 Chinese leader Xi said. 含羞草研究社淚t shows the determination of BRICS countries for unity and development.含羞草研究社

含羞草研究社淥ver the years, China has stood in solidarity with developing countries through thick and thin.含羞草研究社

Saudi Arabia and the UAE might provide new capital for BRICS含羞草研究社 New Development Bank. However, economists also noted that and Egypt are the International Monetary Fund含羞草研究社檚 two biggest debtors and have required bailouts.

Ethiopia, Africa含羞草研究社檚 second most populous country with 120 million people, has been at odds with the U.S. and European Union over their criticism of the recent conflict in the country含羞草研究社檚 Tigray region.

Argentinian President Alberto Fern谩ndez said that joining BRICS was 含羞草研究社渁 new opportunity含羞草研究社 that 含羞草研究社渟trengthens us.含羞草研究社

BRICS has a stated aim to amplify the voice of the Global South. All five current members and dozens of other developing countries represented at the summit repeatedly called this week for and the reform of international institutions like the United Nations, the IMF and the World Bank.

Many in the developing world view those institutions as Western-led and unfair to them and a stream of leaders made speeches Thursday calling for change.

While that sentiment and challenging the current international order is useful for China and Russia含羞草研究社檚 geopolitical aims, said in a speech to the BRICS summit that the calls for reform were valid.

He quoted figures that said, on average, African countries pay four times more for borrowing from international financial institutions than the United States and eight times more than the wealthiest European countries.

含羞草研究社淩edesigning today含羞草研究社檚 outdated, dysfunctional and unfair global financial architecture is necessary, but it won含羞草研究社檛 happen overnight,含羞草研究社 Guterres said. 含羞草研究社淵et we can and must take practical action now.含羞草研究社

More than 20 countries had formally applied to join BRICS ahead of the Johannesburg summit and more than 20 others had expressed interest, indicating how the bloc might resonate with many as an alternative.

含羞草研究社淐ooperation is key to our collective survival,含羞草研究社 Ethiopian Prime Minister Abiy Ahmed said.

South African officials pushed back against characterizations that BRICS was taking an anti-West turn under the influence of China and Russia. Putin and Xi laced their speeches with criticism of the U.S. and its allies earlier in the summit, although Xi did also call for a 含羞草研究社渓owering of the temperature含羞草研究社 in reference to

Putin used a 17-minute prerecorded address on the opening day of the meetings over the financial sanctions imposed on Russia as punishment for its invasion of Ukraine.

The expansion of BRICS also appears to expand China and Russia含羞草研究社檚 sphere of influence, especially in the Persian Gulf. While Saudi Arabia had been touted as a likely new member, Iran含羞草研究社檚 inclusion wasn含羞草研究社檛 expected. In the end, three Gulf nations were in line to possibly join.

Until recently, the inclusion of Iran, Saudi Arabia and the UAE together in the same economic or political organization would have been unthinkable, as tensions escalated following the collapse of .

But the UAE became the first to and Saudi Arabia and Iran announced they had reached a separate d茅tente in March, notably with the help of Chinese mediation.

China has recently pushed for more of a presence in the Gulf and has sought closer relations with all three nations, particularly Iran, from which it has imported oil. Saudi Arabia and the UAE have also maintained relations with Russia amid the war on Ukraine, annoying the U.S., which has long provided security guarantees for the major oil-producing nations.

The U.S. and its Western allies clashed with Russia and Iran at the U.N. Security Council last month over Tehran含羞草研究社檚 uranium enrichment and its reported supply of combat drones to Russia that are being used to attack Ukraine.

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