Brics News

Robert Kiyosaki has renewed his warning on the US dollar, urging investors to shift toward gold, silver and cryptocurrencies as BRICS currency rumours resurface. He claims a “gold-backed” BRICS unit could accelerate dollar decline and trigger hyperinflation.

Russian President Vladimir Putin will visit India from 4 December for annual summit talks with Prime Minister Narendra Modi, focusing on strengthening the India-Russia strategic partnership.

Russian minister Sergey Lavrov emphasised that Russia's commitment to national interests and the protection of ethnic Russians in Crimea, Donbass, and Novorossiya came at a cost.

BRICS accounts for nearly 40% of global GDP and half the population. Tensions with the U.S. escalated over trade and tariffs, especially concerning India's oil imports from Russia.

Jaishankar's comments at the virtual BRICS Summit came amid increasing concern around the globe due to US tariffs on India and other countries.

US Commerce Secretary Howard Lutnick predicts India will soon apologise to Donald Trump and negotiate a deal. He criticised India's shift towards Russian oil imports and emphasised the need for India to align with the US for economic stability.

Dedollarisation: BRICS aims to reduce reliance on the US dollar through local currency settlements and discussions of a shared reserve currency

Jaishankar is set to join BRICS summit in Brazil on September 8 to discuss Trump’s tariffs. This comes after an important meeting over the weekend between Chinese President Xi Jinping, PM Narendra Modi and Russian President Vladimir Putin in Tianjin.

In Tianjin, PM Modi and President Xi Jinping discussed strengthening ties and resolving border issues ahead of the SCO summit. Modi invited Xi to the BRICS Summit, emphasising the importance of peace on borders and enhancing economic collaboration.

New Development Bank has appointed central banker Rajiv Ranjan as vice president and chief risk officer for five years.