July 29, 2022
Iran and Argentina have both applied to join BRICS, a grouping of Brazil, Russia, India, China and South Africa that was founded in 2009 primarily to challenge the supremacy of the US dollar and has since created the New Development Bank to act as a rival to the Western-dominated World Bank and International Monetary Fund. As a practical matter, however, BRICS hasn’t done much beyond being a talking shop.
