The Quest for a Multipolar World
At its core, the push to expand BRICS was driven by a shared desire among its members—Brazil, Russia, India, China, and South Africa—to create a more balanced, multipolar world order. For years, the group has positioned itself as a counterweight to Western-led
institutions like the G7 and the World Bank, which they argue are dominated by the perspectives and interests of the United States and its allies. The expansion was a deliberate strategy to amplify the voice of the "Global South" and build an alternative platform for cooperation and influence. By increasing its membership, BRICS sought to grow its demographic and economic heft, transforming from a club of large emerging economies into a more formidable geopolitical coalition.
China and Russia’s Strategic Push
The most vocal proponents of a rapid expansion were China and Russia. For Beijing, a larger BRICS serves as a key pillar in its strategy to counter US influence and build a coalition of nations more aligned with its vision for global governance. As the bloc's largest economy by a significant margin, China saw expansion as a way to extend its diplomatic reach and solidify its leadership role among developing nations. For Moscow, facing intense diplomatic and economic isolation due to sanctions, enlarging BRICS offered a crucial opportunity to demonstrate that it still had powerful friends on the world stage and could build partnerships outside the Western sphere. Both nations viewed the inclusion of new members as a way to create a more explicitly anti-Western bloc.
Economic Ambitions and De-Dollarization
A significant economic driver behind the expansion was the growing ambition to reduce dependency on the US dollar. This concept, known as "de-dollarization," aims to conduct more international trade and financial transactions using the local currencies of member nations. The reliance on the dollar exposes countries to US monetary policy and makes them vulnerable to sanctions. By bringing in major energy producers like Saudi Arabia, the UAE, and Iran, the bloc aimed to gain more control over global energy markets and facilitate trade in currencies other than the dollar. While the creation of a single BRICS currency remains a distant goal, the expansion was a practical step toward building alternative payment systems and strengthening financial institutions like the New Development Bank (NDB) to support this long-term vision.
India and Brazil’s Cautious Consensus
Not all original members were equally enthusiastic about a rapid expansion. India and Brazil initially expressed reservations, concerned that a larger group could dilute their own influence and become dominated by China's agenda. India, in particular, was wary of the expansion becoming a vehicle for Beijing's strategic ambitions, given the ongoing rivalry and border disputes between the two nations. However, New Delhi ultimately played a proactive role, shaping the consensus around which new members were chosen and ensuring that clear criteria for entry were established. For India, the inclusion of countries like the UAE, Saudi Arabia, and Egypt aligned with its own growing strategic engagement in the Middle East and Africa. Brazil, under President Lula da Silva, also supported the idea of strengthening the Global South but preferred a more gradual approach.
The New Faces of BRICS
The six countries invited in August 2023 were Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. Each brought unique strategic value. The inclusion of Saudi Arabia, the UAE, and Iran meant the bloc would include three of the world's largest oil exporters. Egypt and Ethiopia expanded the group's presence and influence in Africa and key strategic waterways. Iran's inclusion added another voice strongly opposed to US influence. However, the expansion was not entirely smooth. Following a change in government, Argentina officially withdrew its application before its membership was to take effect. As of early 2024, Egypt, Ethiopia, Iran, and the UAE had formally joined, with Saudi Arabia still considering the invitation.
