BRICS, the bloc of five major emerging economies including Brazil, Russia, India, China, and South Africa, has announced new members on Thursday.
According to report, the 15th BRICS Summit of Heads of State and Government started Tuesday, August 22, and is to end Thursday, August 24 at the Sandton Convention Centre, Johannesburg, South Africa.
The bloc has announced six new members. They include;
Argentina
Egypt
Ethiopia
Iran
Saudi Arabia
UAE
BRICS now controls over 50% of the world’s oil reserves and this is to take effect from January 1, 2024.
Punch/Yetunde Oke
