BRICS at a crossroads amid rising tensions
BRICS has expanded from a forum of four emerging economies in 2006 to a bloc of 11 nations by 2024, positioning itself as a non-Western alternative for global economic cooperation. Originally conceived in 2001 by economist Jim O’Neill, the group includes Brazil, Russia, India, China, and South Africa, with recent additions aimed at strengthening multilateralism, according to Firstpost.
Key initiatives, such as the New Development Bank and alternative trade arrangements, have attempted to minimize dependency on Western-dominated institutions like the IMF and World Bank. However, the group faces increasing internal and external challenges.
Internally, China’s push to lead the bloc and align it with its larger anti-Western agenda backed by Russia has created worries, particularly among founding members like as India. Externally, US President Donald Trump has threatened 100 percent tariffs if the BRICS pursues dedollarization or introduces a common currency, Firstpost reported.
Trump to host five African leaders for trade talks in Washington
US President Donald Trump will host leaders from Gabon, Guinea-Bissau, Liberia, Mauritania, and Senegal at the White House on July 9 to explore commercial opportunities, a White House official confirmed.
The meeting, which will include a discussion and a working lunch, is part of the administration's broader push to prioritize trade and investment above traditional foreign aid. According to the official, Trump sees Africa as a region having "incredible commercial opportunities" that will benefit both parties, Reuters reported.
The summit, scheduled for July 9-11, aligns with the administration's shift away from charity-based aid models. Secretary of State Marco Rubio emphasized this approach, stating that support will favor nations showing “ability and willingness to help themselves.”
Iran reimposes airspace restrictions amid security concerns
Iran has once again closed its central and western airspace to international transit flights, just five days after reopening it. The move, announced Wednesday, follows a new security and safety assessment approved by the Civil Aviation Organization of Iran, according to Xinhua.
Flights to and from the country’s northern, southern, and western airports remain suspended until at least 14:00 local time (1030 GMT) Thursday. However, Iran’s eastern airspace, reopened on June 29, remains operational.
Iran initially shut its airspace on June 13 after Israeli airstrikes, later reaching a ceasefire with Israel on June 24 following 12 days of conflict, Xinhua reported.
Iran says no agreement reached to resume talks with U.S.
Iranian Foreign Minister Seyed Abbas Araghchi said on Thursday that no arrangement or commitment had been made to resume negotiations with the United States. In an interview with state broadcaster IRIB, Araghchi said the possibility of restarting talks was under consideration but would depend on whether Tehran's national interests were protected.Araghchi confirmed that the damage caused by the 12-day war with Israel was "serious" and experts from the Atomic Energy Organization of Iran were conducting a detailed assessment.On the same day, White House Press Secretary Karoline Leavitt confirmed that the United States has no meetings scheduled with Iran, one day after U.S. President Trump said that the two sides would talk and meet "next week."
Also on Thursday, Iran's Constitutional Council approved a bill, already ratified by the parliament, to suspend the country's cooperation with the International Atomic Energy Agency (IAEA). The bill has been reviewed by the council and is in line with Iran's religious regulations, laws and constitution, council spokesperson Hadi Tahan Nazif said in an interview with state-run IRIB TV on Thursday. Following the approval, Iran's Parliament Speaker Mohammad Bagher Ghalibaf said that the bill has been submitted to the government for implementation.
