BRICS summit in New Delhi concludes with calls for UN reform, use of local currencies, and greater Global South cooperation

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BRICS summit in New Delhi concludes with calls for UN reform, use of local currencies, and greater Global South cooperation

⚡ Markets: The continued push for de-dollarization and alternative financial systems represents a long-term structural headwind for the US dollar's reserve status. Concrete steps on local currency settlement platforms could accelerate this trend, impacting FX markets and demand for US debt.USDCNYINRGold

The 18th BRICS summit, including its newest members, ended with a joint declaration urging reform of global governance institutions like the UN and WTO, and promoting the use of national currencies for trade and investment to reduce reliance on the US dollar. Leaders also called for restraint in the Middle East and emphasized cooperation on technology and supply chains.

West MSM 11Google West 3Financial press 4Non-West State 32Regional 32Google Non-West 12West Right 2Non-West Ind. 227 countries

98 sources across the spectrum

Google WestGoogle News (Canada) — U.S. watches as Russia, China, Iran, Saudi Arabia and Africa’s BRICS powers rally in India to bypass sanctions and break the US dollar’s hold over global finance

Financial pressCNBC — Trump's America-first world is pushing other powers to hedge their bets

Non-West StateTASS — Key payment provisions sought by Russia included in BRICS declaration — Kremlin

Non-West StateTASS — China to host BRICS Forum on Trade in Services in 2027 - Xi

Non-West StateLenta.ru — Си Цзиньпин призвал реформировать ВТО

Non-West StateTASS — Russia happy BRICS declaration wording acceptable to Iran, UAE — Kremlin

Non-West StatePeople's Daily — 习近平出席金砖国家领导人第十八次会晤第二阶段会议并发表重要讲话

Google WestGoogle News (Spain) — Cumbre de los BRICS discute la promoción de un crecimiento económico inclusivo

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