BRICS to form parliament to oversee alliance and de-dollarization
As it continues to grow and expand its functions, the BRICS bloc has announced plans to form its very own parliament. Indeed, the entity would oversee the alliance, and its functions, and facilitate continued work on its most important projects, such as its ongoing de-dollarization initiatives.
BRICS to form parliament to oversee alliance and de-dollarization
Geurasia

BRICS to form parliament to oversee alliance and de-dollarization

Photo: AFP/Anadolu Agency/Sefa Karacan
Eurasia 15/07/2024 21:29

As it continues to grow and expand its functions, the BRICS bloc has announced plans to form its very own parliament. Indeed, the entity would oversee the alliance, and its functions, and facilitate continued work on its most important projects, such as its ongoing de-dollarization initiatives.

The plan was announced in a recent statement from Russian President Vladimir Putin. Speaking this week, Putin said the bloc “doesn’t have [an] institutionalized parliamentary structure yet, but I believe this idea will be implemented in the future," Watcher.Guru reported.

The bloc is already creating its payment system. BRICS newcomer Iran proposed the interconnection of the country’s central banks. Speaking on the increased partnership with Russia, the country sought to extend that to the group’s other members.

Iran’s Minister of Foreign Affairs spokesperson, Nasser Kanini, told Russian state media of its “completed connecting national payment systems” through Russia and its central banks. Moreover, they seek “to extend this mechanism” to BRICS nations.

These initiatives are vital to growing its status. Moreover, they will only help it increase competition with the West. Its very own parliamentary structure could be an even larger step forward in that direction.

#BRICS
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