The Bangkok Post
02/11/2025
By Mary Ysabelle Aguila Manalang
In the BRICS+ council, there were two blocs that were formed: countries who want to instantly transition from relying on the US dollar currency while still retaining trade relationships with them and countries who want to transition slowly, without keeping trade relationships.
Countries who do not want to keep trade relationships with the USA include the Russian Federation, the Islamic Republic of Iran, China and the United Arab Emirates (UAE). Countries who want to maintain trade relationships with the USA include Indonesia, Egypt, South Africa, Brazil, Ethiopia and India.
The Islamic Republic of Iran has stated that while they do not want to rely on the US dollar currency, they would still want to work together with other countries, not just in their own bloc, but in the other one as well, to achieve independence in currency step by step.
Unexpectedly, during an unmoderated caucus, after a delegate of Indonesia and a delegate of the Russian Federation talked it over, the blocs decided to merge together, reaching the consensus that both blocs are working towards a singular goal which was to transition away from the US dollar currency and reach currency independency though they have decided to still make two different working papers while the rest will be decided along the way which makes it unclear on how their position paper will be made, seeing as how they are now one bloc.
Ultimately, in the end, all these delegates must work together to reach their economic goals which are to improve stability, enhance infrastructure and to build each of their country’s own economic resilience, reaching independence in currency along the way.