Impact of intra-BRICS trade on the share of US dollar in international reserve composition

The latest issue of the BRICS Journal of Economics features a study focused on the analysis of trade among the BRICS nations.

The article examines the impact of the BRICS countries’ trade on the composition of their US dollar reserves using dynamic panel data analysis. The research aims to determine if the trade between the BRICS countries promotes currency diversification or reinforces their reliance on the dollar.

📎 Read the article

@BRICSJournal

#ANALYTICS

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Senator Klimov: BRICS won't turn into the EU or NATO

BRICS is not going to turn into the EU or NATO, the bloc's task is to ensure security and create conditions for the development of member states, Deputy Chairman of the Federation Council Committee on Foreign Affairs Andrei Klimov said.

The senator emphasised that #BRICS is a solid club of sovereign powers. He also recalled the main tasks of the bloc.

"The task of BRICS is not to turn into some kind of EU, as some people think, or even more so into some kind of NATO. Where the interests of sovereign powers coincide, we find a solution, and where they do not coincide, we try not to interfere with each other," the senator said.

Recently, US President Donald Trump announced the introduction of import duties of 10 per cent for BRICS members because they "want to hurt" the dollar.

#NEWS #sanctions

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BRICS+ Fashion Summit will be held in Moscow

The third international forum BRICS+ Fashion Summit will be held in the Zaryadye concert hall from 28 to 30 August in Moscow. The key topic of the forum will be the creation of a decentralised and competitive ecosystem that will facilitate the emergence of fresh concepts and fashion trends. Industry leaders from BRICS, Asia, Africa, Middle East, Latin and North America, Oceania, CIS and other countries are expected.

Earlier Deputy Mayor of the capital Natalia Sergunina said that the brands participating in the fashion week will be determined by the jury, among the selection criteria—originality of the idea, concept, commercial potential and the possibility of mass production. Over the first four seasons, the event attracted more than 800 designers.

#NEWS #EVENT #culture

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🕊 RT spoke with Victoria Panova, Head of the BRICS Expert Council-Russia, Co-Chair of the Russian Chapter of Civil BRICS Council, Russia's W20 Sherpa, and Vice Rector at HSE University. She highlighted the Civil BRICS Council’s role in bridging governments and civil society, emphasised BRICS as a unique, respectful global coalition focused on reforming the world order, and noted its achievements like the New Development Bank and fostering dialogue between countries with conflicts.

📎 Link to the interview

#EXPERT #OPINION #BRICSExpertCouncil #BRICSExpertCouncilRussia

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The International Municipal BRICS Forum

The International Municipal BRICS Forum will be held in St. Petersburg on 29-31 October. The Forum is a communications and business platform for the exchange of best practices, technologies, and effective solutions to ensure the livelihoods of urban and regional populations, strengthening of ties between representatives of regional and municipal authorities of BRICS+ and other friendly states, and development of business communications with entrepreneurs from Russia and foreign countries.

The Forum’s platform brings together partners from more than 70 countries and 2,000 cities and regions worldwide. In 2024, the Forum was attended by about 6,000 delegates from 101 countries.

The event is held with the support of the Russian Ministry of Foreign Affairs, the Federation Council of the Federal Assembly of the Russian Federation, the Administration of the President of the Russian Federation, the All-Russian Association for the Development of Local Self-Government, the Government of Moscow, the Government of Saint Petersburg, the Moscow City Duma, the Moscow Chamber of Commerce and Industry, and the Russian Union of Industrialists and Entrepreneurs.

Every year since 2020, the Forum has been included in the official action plan of the BRICS chairing countries. The IMBRICS Forum was included in the texts of the Beijing Declaration of the XIV BRICS Summit in 2022 and the Kazan Declaration of the XVI BRICS Summit in 2024 as a significant mechanism in promoting urban development and establishing links between twin cities of the BRICS countries within the framework of the 2030 Agenda for Sustainable Development.

#NEWS #EVENT #business

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BRICS now "in full swing"

BRICS is now "in full swing" and is moving towards impressive new results, Russian Deputy Foreign Minister, BRICS sherpa Sergey Ryabkov said at a press conference after the group's summit in Rio de Janeiro.

"The work continues, #BRICS is on the move, at full speed, and we are moving towards new, I am sure, impressive results," said the senior diplomat.

He said that several specialised events at the expert and ministerial levels are planned before the end of Brazil's BRICS Chairship. Ryabkov added that "meetings of the chairmen of the supreme courts, heads of tax and customs departments of the countries of the association will be held soon."

#NEWS #summit

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Anastasia Likhacheva, Dean of the Faculty of World Economy and International Affairs at HSE University, provided a commentary on the final BRICS declaration. The expert noted that bloc's positioning is one of its distinctive features.

"The steadfast position of BRICS regarding sanctions and other unilateral restrictive measures stands out as a defining characteristic of the group, one that resonates with new members and partner nations alike. The recent Summit's affirmation of UN Security Council sanctions primacy in its final declaration serves as the most effective counter to the recurring sanction packages and threats from Western countries," the expert noted.

Anastasia Likhacheva also highlighted the lack of international legal instruments to protect against sanctions arbitrariness.

"Recent years have made it clear to all nations, not just Russia, that no universal international legal instruments exist to safeguard against arbitrary sanctions. Consequently, these instruments must be collaboratively developed by countries that reject unilateral discriminatory measures as a legitimate norm in international relations. #BRICS possesses the potential to create such protective mechanisms, drawing from its unique political culture and the combined economic, scientific, and technological strength of its member states," she concluded.

@crystal_globe

#OPINION #EXPERT #summit

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🇧🇷 Professor of Political Science at the Federal University of Rio Grande do Sul Fabiano Mielniczuk highlighted Brazil’s BRICS Chairship and its focus on strengthening Global South cooperation, the group’s diversity and flexibility, its role in managing conflicts like China-India tensions, and challenges from Western pressure limiting #BRICS’ growth.

📎 Link to the interview

#EXPERT #OPINION

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BRICS Legal Studies School 2025: Strengthening Legal Cooperation for a Multipolar World

The BRICS Legal Studies School 2025 is a week-long intensive academic programme hosted by the Federal University of Minas Gerais (UFMG), Brazil, in collaboration with co-sponsor institutions, including the Higher School of Economics, MGIMO University, St. Petersburg State University and Russian Presidential Academy from Russia, the China University of Political Science and Law (CUPL), Renmin University of China and Huazhong University of Science and Technology (HUST) from China, the National Law University, Jodhpur from India.

The programme offers an in-depth exploration of the legal systems of the original BRICS countries while fostering critical dialogue on global challenges and international cooperation.

Targeted at final-year undergraduate and graduate students from BRICS countries, the BRICS Legal Studies School 2025 operates under Brazil’s 2025 BRICS Presidency theme, “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance.” Aligned with the bloc’s priorities—such as artificial intelligence (AI), climate change, and UN reform—this School equips participants to examine legal traditions, institutional governance, and transnational challenges across the #BRICS and beyond.

⏰ Date: August 4—9, 2025
📍 Place: Belo Horizonte, Brazil
🗣️ Language: English

📎 More information on the website

#EVENTS

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In touch with BRICS: news digest

Your quick rundown of the most important BRICS updates

✔BRICS Summit held in Brazil

✔BRICS leaders adopted a declaration at the Rio de Janeiro summit

✔BRICS delivers strong implementation of Kazan Summit commitments

✔Representatives of the Civil BRICS Council took part at the BRICS Summit

✔Russia to host the 2026 annual meeting of BRICS New Development Bank

✔The BRICS nations advocated for the creation of open AI models

✔BRICS Academic Forum held in Brazil

✔Russian Finance Minister Siluanov elected to lead NDB Board of Governors

✔BRICS aims to take lead in creating institutions in emerging fields

✔BRICS at Inostranka: A new educational project on BRICS launched in Moscow

✔Senator Klimov stated that BRICS won't turn into the EU or NATO

✔BRICS now is "in full swing"

#BRICSExpertCouncilDIGEST

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Discussion "Africa in BRICS: Goals and Prospects" at the Library for Foreign Literature

The BRICS Expert Council-Russia, in collaboration with the BRICS+ Information and Cultural Media Centre, invites you to attend the discussion titled "Africa in BRICS: Goals and Prospects".

The event will feature distinguished experts, including Vsevolod Sviridov, Deputy Director of Centre for African Studies at HSE University; Tamara Andreeva, Researcher at the Centre for African Strategy in BRICS at the Russian Academy of Sciences; and Maxim Grishenkin, Researcher at the Centre for African Strategy in BRICS at the Russian Academy of Sciences.

Key topics on the agenda include:
✔How does African membership shape BRICS' strategic priorities and operational focus?
✔What specific projects and initiatives are currently underway within the BRICS framework to foster Africa's development?

The discussion will take place as part of the Annual African Cultures Festival at the BRICS+ Information and Cultural Media Centre located in the Library of Foreign Literature.

❕ Admission requires either a library card or a passport for guest registration
🗣️ The event will be conducted in Russian

📎 More information on the website

@hse_official
@generationbrics
@libfl
@tvbrics
@mediacenter_brics

#ANNOUNCEMENT #inostranka

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V Young Scientists Congress

The Congress is an annual business, exhibition, and communication platform for the international scientific community established by Vladimir Putin in 2021.

It brings together prominent leaders of science, members of leading scientific schools from different regions of Russia, scientific and educational organisations, government bodies, industrial partners, representatives of business and state corporations, and most importantly, young scientists. Participants of the Young Scientists Congress are traditionally given the opportunity to meet with the President.

⏰ Date: November, 26-28
📍 Place: The Sirius Federal Territory, Russia

#EVENT #science #youth

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Andrey Bystritskiy, Dean of the Faculty of Creative Industries at HSE University, shares his insights on the recent BRICS Summit in Brazil:

"The BRICS Summit culminated in a multi-paragraph declaration that, despite its length, conveys a singular message: we must design and shape the world of tomorrow, even in the face of clear resistance.

One notable point in the final declaration emphasises that BRICS would welcome a new platform for cultural and creative industries to foster deeper, more rapid, and comprehensive interactions among member countries," he noted.

The expert also underscored the importance of the creative economy and cultural industries in overall economic development.

"It is important to highlight that all BRICS nations recognise the growing significance of the creative economy and cultural industries in overall economic development. United in their opposition to any form of global hegemony, BRICS understands that collaboration in creative fields could turn into a crucial driver for their economies. This creative synergy may empower them to navigate Western hegemonic ambitions more effectively. It is no coincidence that the Summit's host, Brazil's President Lula da Silva, countered Trump’s threats of new tariffs against nations supporting BRICS by asserting that they don’t need emperors—BRICS can chart and forge its own future.

In this context, we have every reason to take pride in the Faculty of Creative Industries at HSE University. We are equipped to provide effective intellectual solutions that can play a pivotal role in shaping a new creative landscape," the expert concluded.

@abystritskiy

#EXPERT #OPINION #HSEUniversity #exonomics

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China’s trade turnover with BRICS countries and partners exceeds $855 bln

China’s trade volume with BRICS member states and partner countries grew by 3.9% year-on-year in January-June, surpassing 6.11 trillion yuan (approximately $855 bln at the current exchange rate), according to Director of the Statistics and Analysis Department of the General Administration of Customs Lu Daliang.

"In the first half of the year, China’s trade turnover with other BRICS member and partner countries amounted to 6.11 trillion yuan, representing a 3.9% increase compared to the same period last year," he said at a press conference.

The official noted that as the grouping expands, it is becoming the "first echelon" of the Global South. According to him, BRICS countries and partners account for roughly 28% of China’s foreign trade.

The department director highlighted the strong economic complementarity among BRICS countries, which fosters increased cooperation, including in the supply of chemical, metallurgical, electronic, and other industry products. He pointed out that recently China has been exporting increasing quantities of petrochemical equipment and metalworking machines to these countries, as well as selling cotton harvesters and combines.

Additionally, Lu Dalian noted that China actively imports agricultural products from BRICS members, particularly vegetable oils and seafood.

#NEWS #China #agriculture #trade

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Victoria Panova joined the international forum "Woman of the Third Millennium"

Victoria Panova, Head of the BRICS Expert Council-Russia, Vice Rector at HSE University, and Russian W20 Sherpa, has joined the Board of Trustees of the Woman of the Third Millennium International Forum.

The Woman of the Third Millennium International Forum is a unique international platform that brings together leaders, entrepreneurs, scientists and public figures to discuss key issues of gender equality, sustainable development and women's leadership.

"We are deeply honored to welcome Dr. Panova to our Board of Trustees. Her participation holds particular significance for our mission, substantially elevating the Forum’s expertise while creating new opportunities to strengthen global dialogue among women leaders. Having such an accomplished professional join our council not only reflects confidence in our Forum, but provides vital resources to implement our strategic initiatives," said Alfiya Amirova, President of the International Women's Union.

#NEWS #BRICSExpertCouncil #BRICSExpertCouncilRussia #equality

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Registration is open for the BRICS International School: New Generation

We are pleased to announce the opening of registration for the "BRICS International School: The New Generation", where 100 young leaders from around the world will have a unique chance to become part of the global community of BRICSologists! 🌍

BRICS International School: New Generation is the flagship educational and outreach project of the BRICS Expert Council-Russia.

The School is held on an annual basis with the support of the Ministry of Foreign Affairs of the Russian Fedederation to expand the pool of young experts-BRICSologists to form a talent pool and develop the BRICS youth track. 📖

We invite:
✔students and young scientists
✔diplomats
✔public figures, representatives of youth blocs and volunteers
✔entrepreneurs
✔journalists
from 18 to 35 years old.

Applications are accepted until September 15❕

Participants are selected on a competitive basis.

🔥 Dates: Fall 2025
📍 Location: Moscow, Russia
🖋️ Format: face-to-face
🗣️ Language: English

More detailed information can be found on the official website.

See you in Moscow! 🤍

@MFARussia @bricsinternationalschool

#ANNOUNCEMENT #BRICSschool

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Russia, other BRICS members to defend their interests

BRICS countries are looking for alternatives to the dollar in order to insure themselves against abuses from the US, Russian Foreign Minister Sergey Lavrov said in remarks about the potential of BRICS and the Shanghai Cooperation Organisation in standing up to financial threats emanating from Washington.

"Because there have been specific threats from Washington against BRICS, that BRICS should be fought, that BRICS undermines the interests of the United States, I will say in fairness that President Trump previously had laid out a somewhat different point of view," he said at a news conference following the SCO Foreign Ministers' Council meeting in Tianjin.

Lavrov said a gradual pivot away from the dollar is now unstoppable, with statistics confirming the trend by showing how the dollar's share in world trade has changed.

"We have, I want to stress this again, every reason to believe that #BRICS member countries are also sovereign and value this status in the global system," the minister said.

#NEWS #SCO #politics #finance

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Treaty of Good-Neighbourliness, Friendship and Cooperation

The Russian-Chinese Treaty of Good-Neighbourliness, Friendship and Cooperation signed by Russian President Vladimir Putin and Chinese President Jiang Zemin on 16 July 2001 was an important milestone in the development of relations between Russia and China. This document laid the foundation for a strong partnership between the two countries based on mutual respect, trust and interests.

For Russia, this treaty has become a strategic tool in a changing international order. Cooperation with China helps Russia diversify its foreign economic ties and strengthen its position in the international arena. In the context of Western sanctions, Russia is actively developing economic and political ties with China, which contributes to the creation of a new multipolar world.

China, in turn, views Russia as a key partner in its "Belt and Road initiative". Cooperation with Russia opens up new trade routes and opportunities to increase China's influence in Asia and beyond.

For #BRICS, this partnership allows them to advance their economic interests and also strengthens the group's global position as opposed to traditional Western centres of power.

Cooperation based on this treaty continues to grow to this day, opening up new horizons for trade, economics and political interaction.

#RussiaChina #diplomacy

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RT spoke with Marco Fernandes, Brazilian representative at the Civil BRICS Council. He discussed Civil BRICS Council’s first meeting, emphasised the bloc’s potential to offer alternatives to Western dominance, and stressed civil society’s growing role in shaping global development paths.

📎 Link to the interview

#EXPERT #OPINION

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