Russia
Source: mid.ru

Question: You mentioned that Moscow was trying to understand where US President Trump’s statements were coming from. Just before Trump, US Senator Lindsey Graham stated in about the same language that Brazil, China, and India were playing into Putin’s hands. You’ve made it clear that Moscow has no particular concerns regarding its partners, but I’d like to ask you if there is any potential for joint action by the SCO or BRICS regarding this threat.

Sergey Lavrov: Washington kept uttering specific threats targeting BRICS to the effect that BRICS needs to be opposed and that it undermines US interests.

Truth be told, US President D. Trump expressed a somewhat different view on earlier occasions. He stated loud and clear that the actions taken by the Biden administration, which weaponised the US dollar, have irreparably damaged the standing of this global reserve currency. I’m sure he understands that this is a fair assessment and that in response to the mayhem caused by the previous administration, BRICS, the Community of Latin American and Caribbean States, and many other associations are considering alternative payment methods that do not include the US dollar and are thus immune to Washington’s lawless behaviour.

This process can no longer be stopped. There are statistics that show the share of the US dollar in global trade and international financial transactions. This is not because we wanted to flee from the US dollar. President Putin has underscored this point many times. The US dollar was used to punish those whose behaviour - as seen by the Americans - was inconsistent with the infamous “rules” which they want to use as a foundation for the world order.

On a serious note, our profession is not to fear things, but to push for proper consideration of Russia’s interests, and to work openly and honestly based on international law and the agreed-upon principles. A strong and independent country with a sense of dignity cannot behave otherwise. We have every reason to believe that the BRICS countries are also sovereign entities and appreciate their standing within the global system.

Brazil
Source: brics.br

The document also addressed issues such as artificial intelligence, climate finance, and information and communication technologies

Condemnation of wars, reform of international organizations, climate change mitigation, and cooperation among member countries are among the key points of the BRICS Leaders' Declaration. The document was endorsed by the BRICS member states on the very first day of the Leaders’ Summit, held on July 6 in Rio de Janeiro.

The text underscores the imperative for enhanced representation of countries beyond the United States–Europe axis within international institutions, including the United Nations Security Council and the International Monetary Fund. It also condemns Israel’s attacks on Iran, the war in Ukraine, and the conflict in the Gaza Strip.

Condemnation of wars

The attacks on Iran, carried out by Israel, and on Ukraine, initiated by Russia, were condemned in the BRICS Leaders' Declaration. The situation in the Gaza Strip also raised concern, especially regarding the occupation of Palestine. For the Global South countries, the solution lies in the creation of a Palestinian state alongside the State of Israel, as outlined in the 1967 United Nations resolution.
The bloc also expressed concern over the recurring threats of nuclear weapons use around the world and reaffirmed the need to continue disarmament, arms control, and non-proliferation programs to preserve peace.

Artificial Intelligence

BRICS acknowledges the importance of Artificial Intelligence in the current development of nations, but emphasizes the need for clear limits regarding intellectual property. The member countries also advocate that technological advancement should serve the greater good of humanity, and that potential risks arising from its use be mitigated.

Inclusive and sustainable economic growth

By enhancing international cooperation across economic, trade, and financial sectors, BRICS countries committed to strengthening trade relations in order to promote inclusive and sustainable growth.

Financing the energy transition

BRICS members recognized the imperative of bridging financing gaps in the energy transition. In this regard, they proposed the allocation of appropriate and low-cost concessional investment from developed countries to developing nations, ensuring a fair and inclusive energy transition.

More diverse and inclusive global governance

BRICS commits to advocating for greater representation of less developed and emerging countries in global decision-making positions, so that these roles are more attuned to the realities of those regions. Additionally, the declaration supported the inclusion of more women in leadership roles within international organizations — particularly from Africa, Latin America, and the Caribbean.

Reform of the United Nations Security Council was also reaffirmed as a priority by the member states. According to them, it is essential that more emerging nations be included among the Council’s 15 members — in order to increase representativeness — and that there be equality in voting rights among them. This would prevent any single country from holding unilateral veto power over discussions, as is currently the case with nations such as the United States.

Commitment to achieving the goals of the Paris Agreement

The member states also committed to fulfilling the goals of the Paris Agreement and the objectives of the United Nations Framework Convention on Climate Change (UNFCCC). They further expressed their intention to strengthen efforts to address the climate crisis and enhance mechanisms related to mitigation, adaptation, and the provision of support to implement these measures in developing countries.

BRICS also expressed support for Brasil’s presidency of COP30, which will be held in November in Belém, Pará. The document reaffirmed that the COP is aligned with all the pillars of the UNFCCC, recognizing the commitments each country has made under the agreements.

Information and Communication Technologies

The BRICS countries emphasized the potential of Information and Communication Technologies
(ICTs) to reduce digital inequalities among nations. The heads of state cited the United Nations as the organization responsible for establishing norms and principles for the responsible use of ICTs worldwide.

Support for the NDB and expansion of membership

The countries recognized the importance of the New Development Bank (NDB) as a tool for innovation and modernization in the Global South. They encouraged an expansion in the number of member countries to enhance the Bank's operational effectiveness and institutional resilience.

Space exploration

The group also acknowledged the importance of ensuring that space research serves peaceful and scientific purposes. Militarization and a renewed space race were condemned.

Climate Finance

BRICS emphasized that securing fair climate financing for emerging countries is essential in the fight against climate change. Furthermore, they recognized the Tropical Forests Forever Fund (TFFF) as an innovative and efficient mechanism for environmental conservation. The initiative provides economic compensation to countries that preserve tropical forests.

Fighting prejudice

The countries reiterated the need to fight racism, homophobia, xenophobia, and religious intolerance, as well as the current trend of disseminating such content through disinformation.

By Julia Lima and Eduarda Galdino. Content originally published by the UERJ Scientific News Agency (Agenc)

USA
Source: geopoliticaleconomy.com

Close Donald Trump allies like Steve Bannon say “the president is pissed every time he looks at the BRICS de-dollarization effort”. The US is trying to make an example out of Brazil, threatening high tariffs to punish Lula da Silva, who promotes a multipolar world and a new global reserve currency.

Western corporate media coverage of the Global South-led organization BRICS is frequently dismissive and condescending. Bloomberg published an article claiming that BRICS is “little more than a meaningless acronym”.

It appears that a lot of this criticism, nevertheless, is actually a coping mechanism, because evidence is piling up showing that the US government is very afraid of the rapid growth of BRICS.

Donald Trump, in particular, is terrified of the possibility of BRICS challenging the global dominance of the US dollar.

BRICS held a successful summit in Brazil in July, featuring for the first time the participation of 10 members and 10 partner countries.

The 2025 BRICS summit in Rio de Janeiro, Brazil

Trump responded with furious denunciation, threatening to hit all BRICS countries with 10% tariffs.

Trump then delivered an angry rant against BRICS at the White House, in a meeting with his cabinet on 8 July.

What the US president said was deeply contradictory. It was like Schrödinger’s BRICS: the organization is not a threat, but also the biggest threat in the world, according to Trump.
Trump simultaneously claimed that BRICS is “not a serious threat”, but also that it is trying to “destroy the dollar”, and that, if the United States lost the exorbitant privilege it receives as the issuer of the global reserve currency, it “would be like losing a war, a major world war; we would not be the same country any longer”.

“The dollar is king, and we’re going to keep it that way!” Trump declared.

These were Trump’s indignant remarks (emphasis added):
They have to pay 10% if they’re in BRICS. Because BRICS was set up to hurt us. BRICS was set up to degenerate our dollar, and take our dollar as the standard, take it off as the standard.
And that’s okay if they want to play that game, but I can play that game, too. So anybody that’s in BRICs is getting a 10% charge.

…
If they’re a member of BRICS, they’re going to have to pay a 10% tariff, just for that one thing. And they won’t be a member long.

I thought BRICS was — you know, I said this about a year ago, and it largely broke up. But, you know, there are a couple of them hanging around, but I thought it largely broke up.

BRICS is not, in my opinion, not a serious threat. But what they’re trying to do is destroy the dollar, so that another country can take over and be the standard. And we’re not going to lose the standard, at any time.

If you have a smart president, you will never lose the standard. If you have a stupid president, like the last one, you would lose the standard. You wouldn’t have the dollar as [the standard].

And if we lost the world standard dollar, that would be like losing a war, a major world war; we would not be the same country any longer. We’re not going to let that happen.

The dollar — you never hear the expression “the dollar is king”? The dollar is king, and we’re going to keep it that way, ok?

Trump is extremely “pissed” at BRICS and dedollarization

Politico published an article, citing sources very close to the US president, that revealed that Trump is enraged about the expansion of BRICS and its push for global dedollarization.

“You can tell the president is pissed every time he looks at the BRICS de-dollarization effort”, former top Trump aide Steve Bannon told Politico.

The success of the BRICS summit in “Rio didn’t help”, Bannon added.

Bannon served as CEO of Trump’s presidential campaign in 2016, and was the White House chief strategist in 2017.

Bannon, who previously worked at major Wall Street investment bank Goldman Sachs, is a far-right demagogue who proudly stated in 2018, “We’re at war with China”.

Indonesia
Source: indonesiabusinesspost.com

The success of the global push to triple renewable energy by 2030, as agreed at COP28, heavily depends on energy transition efforts by Indonesia and fellow BRICS nations, said a new report by the Net Zero Policy Lab (NZPL) at Johns Hopkins University.

It suggests that a failure to accelerate clean energy transitions within BRICS could derail global climate goals and bring economic risks to member countries.

The report, titled “BRICS Going Green,” highlights that the BRICS bloc − comprising Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates − accounts for over half of global carbon emissions. While clean energy investment has overtaken fossil fuels in the bloc, largely driven by Brazil, China, and India, internal disputes over transition policies persist and overall green investment still falls short of what is needed to meet the Paris Agreement goals.
“Why are BRICS countries adopting green industrial policies? One reason is these policies enable them to capture economic value, jobs, and productivity from rapidly growing sectors − or risk being left behind. The International Energy Agency estimates that clean technologies contributed around 10 percent of global GDP growth last year,” Kritika Kapoor, a researcher at the Net Zero Policy Lab, said in a statement on Thursday, July 17, 2025.

For Indonesia specifically, the report notes major strides in green manufacturing. In June 2025, Indonesia signed a US$10 billion green industrial zone deal with Singapore, targeting solar panels and battery production in Bintan, Batam, and Karimun. Indonesia, as the world’s largest nickel downstreaming hub, also announced plans to build a 150 GWh-per-year electric vehicle battery plant.
However, Indonesia’s green transition remains in question. The 2024 National Electricity Plan still includes roughly 60 percent reliance on coal, despite the country’s pledge to phase it out and target 75 GW of renewable energy capacity by 2040. Moreover, the report warns that limited investment in R&D, patents, and education could weaken Indonesia’s long-term prospects for green industrialization.

To ensure a just and inclusive global transition, the report urges BRICS nations to go beyond fuel substitution and take proactive leadership in shaping a new international order while upholding inclusive multilateralism. It outlines three key policy agendas for BRICS: industrial and technological cooperation, investment and financing collaboration, and inclusive multilateral governance.
For Indonesia, specific recommendations include reforming biofuel supply chains to capitalize on its vast agricultural resources. This involves setting policies for land use and conversion pathways to prevent deforestation and biodiversity loss. On the downstream side, mandates for biofuel blending and certification must be established, along with alignment of financial, trade, and technological tools to support biofuel adoption.

Brazil
Source: brics.br

New Development Bank celebrates its ten-year anniversary and pledges to boost investments in the Global South, while also calling for the continuation of global governance reforms

The second and last day of the 10th Annual Meeting of the New Development Bank (NDB), on 5 July, was marked by the accession of two new members and by calls for a “sustainable reglobalization” as well as “a more representative IMF”. The statements in question were issued by Dilma Rousseff, NBD’s President, and by Fernando Haddad, Brasil’s Minister of Finance.

The day before the BRICS Summit, the ten-year anniversary of the so-called “BRICS Bank” was marked by a meeting in Rio de Janeiro, in which NDB’s Board of Governors approved the accession of two new members: Columbia and Uzbekistan. This brings the group’s membership to 11: Brasil, Russia, India, China, South Africa, Bangladesh, United Arab Emirates, Egypt, Algeria, and the two new countries. The expansion of the BRICS Bank’s membership is taking place alongside the enlargement of the broader grouping of emerging economies. In other words, not all NDB members are part of BRICS.

NDB President Dilma Rousseff highlighted that the accession of the two new members was aligned with the Bank’s priorities, which also include financing and fundraising in local currencies as well as investing in infrastructure. One of NDB’s strategies consists in providing 30% of its financing in local currencies between 2022 and 2026. According to the President, these actions consolidate the bank in that they are “from the Global South and for the Global South”.

Greater Representation

In a speech to Finance Ministers and Central Bank Governors of BRICS countries, Finance Minister Fernando Haddad stated that negotiations were under way for a document entitled “Rio de Janeiro’s Vision for the IMF”. The aim is a joint endorsement by representatives of Global South economies for a “more representative International Monetary Fund (IMF).”

The draft document in question is part of ongoing discussions among Global South countries seeking to obtain greater representation in international councils and forums. The debate began at the G20 Summit last year, also under the Brasil’s presidency, when a document calling for reform of global governance in various sectors was unanimously approved by the world’s 19 largest economies, the European Union, and the African Union.

At the United Nations Security Council and Secretariat, for instance, the reform proposes the inclusion of more women and more countries from Asia, Africa, Latin America, and the Caribbean. It also suggests the creation of a 25th seat at the IMF to represent Sub-Saharan Africa.

In line with the global governance reform agenda, the Minister’s speech also referred to “sustainable reglobalization.” According to him, this would represent a new phase of globalisation based on equitable human development in social, economic, and environmental terms.

The proposals include:

• Facilitating trade and investment among BRICS countries;
• Strengthening coordination on international monetary and financial system reforms;
• Promoting intra-BRICS dialogue on public-private partnerships, taxation, and customs, with special attention to the taxation of ultra-high-net-worth individuals;
•  Promoting The Tropical Forest Forever Facility, a climate financing model that rewards countries with tropical forests that work to preserve them. BRICS would work in partnership with the Brazilian presidency to launch this proposal at COP30.

The BRICS Summit also discussed issues related to the presentations made at New Development Bank’s 10th Meeting. This summit, which brought together BRICS member countries, took place on 6 and 7 July in Rio de Janeiro. Brasil will continue to hold the presidency of the group of emerging countries until 31 December 2025.

By Everton Victor and Julia Lima.
Content originally published by UERJ’s Scientific News Agency (Agência de Notícias Científicas, Agenc).

English version: Enora Lessinger (POET/UFC)
Proofreading: Milchel Emmanuel Félix François (UFC)