BRICS Enlargement to Contribute to Strengthening of Organization, Kremlin Says

Peskov told reporters that "in one form or another, the expansion of the BRICS will contribute to the further development and strengthening of this organization," adding that the form and extent of the expansion is to be discussed during the upcoming summit.

On Tuesday, the spokesman noted the significance of the BRICS expansion.

The Kremlin statement comes as the following: "The issue of BRICS enlargement is high on the agenda. Including the agenda of the upcoming summit. This is a very important issue, because we see that more and more countries are making statements about their intentions to join this group."

Peskov also said that there are "nuances" among BRICS members when it comes to enlargement.

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On Wednesday, Bolivia sent a note to the Russian side about the country's desire to join the BRICS, Bolivian Ambassador in Moscow Maria Luisa Ramos Urzagaste said on Wednesday.

In addition, Venezuelan President Nicolas Maduro announced earlier this week that the country has applied for BRICS membership. The leader also elaborated on the reason behind the desire to join the organization.

"If they ask Venezuela whether we want to join the BRICS at some point — Venezuela says yes, we would like to be part of the BRICS and take part in the construction of this new architecture and global policy," Maduro explained.

Last month, South African BRICS sherpa Anil Sooklal stated that around 30 countries had either filed an official application to become a member of the group or expressed their desire to do so.

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Process of De-dollarization of Global Economy Ongoing

Moreover, the Kremlin spokesman added that the process of de-dollarization of the global economy is ongoing, and many countries are on a trajectory towards the use of national currencies.

"The process of de-dollarization of the world economy is constant, many countries are gravitating towards the trajectory towards the use of national currencies for mutual settlements, and expert discussions are also naturally underway on the possibility, expediency and feasibility of plans to introduce a national currency," Peskov told reporters.

At the same time, Peskov said that the introduction of national currencies of integration structures is unlikely to happen in the near future.

During the Second Russia–Africa Summit, Dilma Rousseff, the president of the BRICS New Development Bank, announced that the bloc is interested in increasing the use of national currencies in the trade. On July 26, during a meeting with Rousseff on the eve of the gathering, Russian President Vladimir Putin noted that members of the BRICS group do not cooperate against third parties, even in financial matters.

In early July, Mohammed Saqib, secretary-general of the India-China Economic and Cultural Council, told Sputnik that de-dollarization is "a dream of many countries" and emphasized the important role of BRICS in the process.

"BRICS nations advocate for reform of international financial institutions and promote South-South cooperation for unified growth," he said.

Apart from that, the exceptional role of the group in terms of finance was also noted by Brazilian President Luiz Inacio Lula da Silva this Wednesday.

"I believe that the BRICS [New Development] Bank must be more effective and generous than the International Monetary Fund. That is, this bank exists to help save a country and not sink it as the IMF often does," the Brazilian president said.

South Africa will host the 15th BRICS summit in Johannesburg on August 22-24.