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Growing Economic Coalition: Bitcoin Bulls Draw Interest from Nearly 20 Countries in BRICS Membership Race

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    • The economic coalition, BRICS, has nearly 20 countries waiting to join, indicating the association’s growing international influence, according to Russian Deputy Foreign Minister Sergey Ryabkov.
    • Ryabkov states that BRICS emphasizes setting a constructive consensus-based agenda, dismissing the typical “leader-follower” principle in favor of equal contribution from member nations.

An increasing demand for inclusion into the BRICS economic alliance, consisting of Brazil, Russia, India, China, and South Africa, is being observed globally, as articulated by Sergey Ryabkov, Russia’s Deputy Foreign Minister. As per a report by Tass, a Russian government-owned publication, the number of countries seeking to join this prestigious association is nearing twenty, a testament to the growing influence of BRICS in the international sphere.

“The burgeoning list of BRICS aspirants is a direct reflection of its rising and already significant role on the global stage. These nations align with the shared perspectives that BRICS embodies. This is worth emphasizing,”

said Ryabkov.

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This influx of interest isn’t without its challenges. One key question BRICS faces is the criteria for membership. South Africa, one of the existing members, is reportedly spearheading discussions on this matter.

Distinguishing itself from conventional hierarchical organizations, BRICS, Ryabkov notes, does not conform to the “leader-follower” principle. Instead, it focuses on establishing a constructive agenda built upon consensus and shared decision-making, reinforcing the notion of mutual respect among member nations.

Ryabkov, an accomplished diplomat and fluent English speaker, is no stranger to managing international relations. He once reassured U.S. Deputy Secretary of State Wendy Sherman that Russia harbored

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“no intention of attacking, staging an offensive on or invading Ukraine”

on behalf of the Russian government.

Ryabkov shared that entire global regions, particularly the Arab world and the Asia-Pacific region, are eagerly seeking membership in BRICS, a topic that was a focal point at a recent conference in South Africa.

“From our standpoint, there’s a clear demand from the Arab and Asia-Pacific regions to join BRICS, as they currently lack representation. However, the decision ultimately lies with the leaders during the summit in Johannesburg,”

Ryabkov concluded.


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Jack Williams
Jack Williams
As a Blockchain Analyst, I specialize in analyzing the performance of decentralized systems and optimizing their efficiency. Through data analysis, I provide insights on blockchain technology, smart contracts, and cryptocurrencies to help businesses make informed decisions and improve their operations.
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