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The BRICS alliance has come out in support of Donald Trump after the attempted assassination of the former President during a rally in Butler, Pennsylvania. The 20-year-old shooter Thomas Matthew Crooks fired multiple rounds from an elevated position killing a rally attendee and injuring two others, while one bullet zipped through Trump’s right ear. The shooter was taken down instantly by snipers while Trump was escorted to safety by the Secret Service. Also Read: BRICS: Janet Yellen Repeatedly Says Sanctions Led to US Dollar Decline Russia's MFA issues statement following Donald Trump assassination attempt "Those who vote in the United States for the supply of weapons to Ukraine, maybe it is better to use this money to finance the American police and other services that are supposed to ensure law and… pic.twitter.com/JNxyU5H8kW — BRICS News (@BRICSinfo) July 15, 2024 BRICS members India, Russia, and Brazil, among other countries, have come out in solidarity with Donald Tr...

The BRICS alliance was a five-nation bloc since it formed in 2009 and remained the same for 15 years. However, things changed last year when the group invited six new countries to join the alliance. Invitations were sent to Saudi Arabia, Argentina, the UAE, Egypt, Iran, and Ethiopia during the 15th summit in August last year. While Argentina rejected the membership, Saudi Arabia has kept the decision on hold. The other four new countries have joined BRICS in 2024. Also Read: BRICS Ditches US Dollar, Settles $4 Billion Trade in Local Currencies BRICS is now a bloc of new and old members and each country is different from the other. This is where things seem to be going downhill as geopolitical views vary between old and new members. The main rift that’s widening between the old and new members of BRICS is India’s permanent seat in the United Nations Security Council (UNSC). BRICS: New & Old Members Lo...

BRICS members India and Russia ditched the US dollar and settled payments worth $4 billion in local currencies. Russian exporters purchased Indian-made arms and equipment for defense purposes and cleared the payment using the rupee. The US dollar played no role in the cross-border trade making local currencies the sole beneficiary of the transactions. Also Read: BRICS : 2 New Countries Agree To Ditch US Dollar The BRICS alliance kick-started the de-dollarization agenda and is moving in the direction of using local currencies for cross-border transactions. Read here to know how many sectors in the US will be impacted if BRICS ditches the dollar for trade. BRICS: India & Russia Settle Trade Worth $4 Billion in Local Currency, Ditch the US Dollar Source: Freepik.com The Russian exporters held $8 billion in reserves in India’s special Vostro bank account for global exchange of trade settlement. Now, 50% of ...

BRICS members China and Russia are forging new partnerships to promote the concept and ideals of a multipolar world. Both countries are looking to reform the global financial system which is heavily concentrated and dominated by the US. Russia’s Foreign Minister Sergey Lavrov met Chinese President Xi Jinping on Tuesday and the two discussed ways to push the new financial ideals ahead. Also Read: BRICS: 2 New Countries Express Interest To Join the Alliance Both the BRICS countries China and Russia pledged to defend the ideals of a multipolar world and promote the concept across developing countries. A multipolar world , according to BRICS is to sideline the US dollar for transactions and use local currencies for trade. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. BRICS: China & Russia Announce Plans To Reform the US-Led Financial System Source: a2zanimals.com The BRICS members explained that the US has p...

BRICS member China is yet again dumping US dollars in the global currency markets to protect the Chinese Yuan. The Chinese state-run banks offloaded US dollars in the spot foreign exchange markets for three consecutive days on Monday, Tuesday, and Wednesday this week. Chinese banks resorted to dumping US dollars after rating agency Moody’s cut China’s outlook to negative. The ratings affect the Chinese Yuan’s prospects and could make the currency weaker in the global markets. Also Read:  BRICS : 150 Countries To Pay Chinese Yuan , Not USD for Loan Repayment? BRICS: China Resorts To Dump US Dollar’s To Protect Chinese Yuan Source: iStock After Moody’s ratings, the Chinese state-run banks stepped up their game by aggressively selling US dollars in the forex markets. Chinese banks were selling the US dollars and immediately buying the Chinese Yuan for three days straight. The move is aimed at tilting the Chinese Yuan into a favorable position against the ...