BRICS

Origins and formation

The name comes from an economic category: in November 2001 Goldman Sachs analyst Jim O'Neill coined BRIC from the initials of Brazil, Russia, India and China in a note titled "Building Better Global Economic BRICs." The resemblance to the word "bricks" was deliberate, and the alternative form CRIB was also used.

The political grouping is distinct from that analytical category. In September 2006 the four countries' foreign ministers first met on the margins of the UN General Assembly in New York, and the first BRIC summit was held in Yekaterinburg, Russia, on 16 June 2009. The Russian Wikipedia instead presents a June 2009 founding at the St. Petersburg Economic Forum, which conflicts with the standard account of the Yekaterinburg founding summit. Because the start of political dialogue is dated variously to 2006 and to the 2009 summit, this dictionary presents the 2006 foreign ministers' meeting and the 2009 first summit separately.

Among conceptual precursors is Russian foreign minister Yevgeny Primakov, who articulated the idea of a multipolar group in New Delhi in 1998; the informal Russia-India-China (RIC) and India-Brazil-South Africa (IBSA) forums preceded it.

Enlargement

South Africa joined in 2010, giving the group the name BRICS. At the Johannesburg summit in August 2023, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE were invited to join from 1 January 2024; Argentina withdrew under the Milei government, and Egypt, Ethiopia, Iran and the UAE joined in January 2024. Saudi Arabia is listed as a member by official BRICS sources but has not publicly confirmed membership, leaving its status contested. The Kazan summit of 22-24 October 2024 introduced a partner-country tier distinct from full membership, and on 6 January 2025 Indonesia became the tenth full member and the first Southeast Asian state. At the 17th summit in Rio de Janeiro on 6-7 July 2025, Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam were designated partner countries.

Institutions and agenda

At the Fortaleza summit in July 2014 BRICS agreed to establish the New Development Bank (NDB, headquartered in Shanghai) with US$100 billion in capital, alongside the BRICS Contingent Reserve Arrangement and the BRICS PAY platform, and it has promoted de-dollarization through trade settlement in national currencies. The July 2025 Rio Declaration condemned "unilateral coercive measures" and tariff measures inconsistent with WTO rules, and endorsed the NDB as a driver of Global South development. Rather than defining itself simply as an alternative to the G7, BRICS has demanded democratisation of international relations, including reform of the UN Security Council and of IMF/World Bank quotas; until 2023 a single BRICS currency was considered, but India stated it did not support a common currency.

Character and limits

BRICS is described not as a geopolitical bloc but as a forum allowing states to negotiate from different starting points, its autonomy presented as a strength rather than evidence of irrelevance. Its expansion strategy emphasises institutional inclusion and consensus-building over ideological confrontation, yet internal political divergences and institutional fragmentation constrain transformative collective action. In the 2026 Iran war, Iran had been a member since 2024 and repeatedly called for action, but BRICS took no measure condemning the attacks, and Indian officials acknowledged difficulty adopting a unified position because of "differing views." Russia's Lavrov stated in May 2026 that BRICS would not rush further expansion, and the partner-country tier launched under Brazil's 2025 presidency is seen as a foundation for future enlargement. That all five original members and Indonesia also belong to the G20 shows how far the grouping overlaps with other major-economy forums.