BRICS Leaders Pose Together, But Not Against the Dollar

The family photograph did the political work the summit’s final declaration could not. Chinese President Xi Jinping, Russian leader Vladimir Putin, Iranian President Masoud Pezeshkian and Indian Prime Minister Narendra Modi stood shoulder to shoulder as the BRICS summit closed in New Delhi on Sunday. The single frame captured an 11-nation bloc that now spans four continents and nearly half the world’s population. UN Secretary General Antonio Guterres attended the gathering of emerging economies. The message was unity. But the reality is more complex. The group is not trying to replace the US dollar. Instead, its members aim to protect themselves from its dominance. BRICS – originally Brazil, Russia, India, China and South Africa – has expanded to include new members such as Iran. The group represents a growing share of global economic and political power. Yet its members have different goals. Some face heavy US sanctions. Others want to reduce their reliance on Western financial systems. This limits how far they can act together.