Iran and Saudi Arabia, along with four other countries, have been announced as new members of the BRICS bloc of developing economies from 2024, according to South African President Cyril Ramaphosa. The United Arab Emirates, Argentina, Egypt, and Ethiopia will also join the current members of Brazil, Russia, India, China, and South Africa. The announcement was made at a bloc summit in Johannesburg, after two days of talks. Ramaphosa revealed that the idea of expansion had been in the works for over a year.
This marks the second time that the BRICS bloc has expanded. It was initially formed in 2009 by Brazil, Russia, India, and China, with South Africa joining in 2010. The bloc currently represents approximately 40% of the world’s population and contributes more than a quarter of global GDP. The announcement was made in the presence of the leaders of Brazil, India, and China, while Russian President Vladimir Putin did not attend due to an arrest warrant issued against him by the International Criminal Court.
The inclusion of Iran, Saudi Arabia, and the United Arab Emirates in the same organization would have been unlikely in recent years due to escalating tensions. However, the UAE has been engaging with Iran diplomatically, especially after missile attacks on Abu Dhabi that were claimed by the Iranian-backed Houthi rebels of Yemen. Additionally, Saudi Arabia and Iran have reached a separate détente with the mediation of China.
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