BRICS' efforts to free the global economy from Western hegemony require a move away from the dominance of the US dollar, Washington's control over global financial institutions, and unilateral sanctions, Dr. Samer Abdallah, a professor of political science at the Lebanese University, told Sputnik.
"The BRICS countries are taking reasonable steps and doing business with each other in accordance with the rules of competition and international trade, away from the unfair Western liberal system," Dr. Abdallah said.
He added that the BRICS countries "are not trying to change the concept of the world economy, but to end Western domination and dependence on the West."
At the BRICS summit in South Africa last August, President Cyril Ramaphosa said the organization's members had decided to accept the application of six new members, including Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates, to become full members of BRICS. Under a new president, Argentina later refused to join the association. The full participation of the new five members in the organization began on January 1, 2024.