As another country officially enters the accession process, the BRICS alliance continues to attract attention. Azerbaijan has officially submitted an application to join the BRICS economic bloc. This occurred following a meeting between Azerbaijani President Ilham Aliyev and Russian President Vladimir Putin in Baku. The news was confirmed through an official publication on social media by BRICS.
Currently, the alliance includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the UAE, with growing interest from other countries wishing to become members. It is also noted that 47 countries intend to join the alliance, with 26 countries having officially submitted membership applications.
With its increasing influence and intensified efforts to promote the circumvention of the US dollar, BRICS is working on creating its own payment system to serve as an alternative to SWIFT. This system is expected to be ready by October, coinciding with the alliance’s meeting. The 16th summit is scheduled to take place between October 22 and 24 in the Kazan region of Russia. Interestingly, according to the governor of the Central Bank of Russia, over 150 countries are ready to adopt the new payment system and turn their backs on the dollar.