Venezuela submits formal proposal to join BRICS bloc

TL;DR Breakdown

  • Venezuela has taken a huge stride by formally submitting a proposal to join the BRICS bloc.
  • Implications of the BRICS membership on the country’s global role.

Description

The government of Venezuela has taken a significant step in its pursuit of international cooperation by formalizing its proposal to join the BRICS bloc. Led by President Nicolas Maduro, Venezuela has expressed its desire to become a part of the geopolitical and economic alliance that includes Brazil, Russia, India, China, and South Africa. President Maduro … Read more

The government of Venezuela has taken a significant step in its pursuit of international cooperation by formalizing its proposal to join the BRICS bloc. Led by President Nicolas Maduro, Venezuela has expressed its desire to become a part of the geopolitical and economic alliance that includes Brazil, Russia, India, China, and South Africa. President Maduro revealed during a recent broadcast of the weekly TV program “Con Maduro Mas” that the Venezuelan government had submitted an official application to join BRICS. 

Venezuela’s President confirms the move

Maduro’s announcement was accompanied by an optimistic outlook, as he expressed hope for a positive reception of the proposal among the existing member nations. Maduro emphasized that the country’s interest in joining BRICS is rooted in a desire to contribute to the bloc’s growth while also benefiting from the shared vision and collaboration it offers. He praised the BRICS bloc for its influential role in shaping the global geopolitical landscape and commended it as a driving force behind the emergence of a multipolar world. 

Delcy Rodriguez, the vice president of Venezuela, further elaborated on the application’s significance. She noted that the move positions Venezuela to explore alternative avenues of economic cooperation, steering away from unilateral hegemonism. The forthcoming BRICS summit, scheduled to take place in South Africa later this month, is expected to deliberate on the inclusion of new members into the alliance. The country’s aspiration to join BRICS was previously hinted at by President Maduro during an official visit to Brazil in May. At that time, Maduro expressed his country’s eagerness to contribute to the construction of a new world order and a new global architecture. 

Former Brazilian President Luiz Inacio ‘Lula’ da Silva endorsed Venezuela’s intention, suggesting that the application would be deliberated alongside other requests during an upcoming BRICS meeting. China and Russia, two key pillars of the BRICS bloc, have responded positively to Venezuela’s interest. Chinese Foreign Ministry spokeswoman Mao Ning welcomed the prospect of integrating more partners into the BRICS family, emphasizing the importance of inclusivity. 

Implications of the BRICS membership on the country’s global role

Russia’s foreign minister for Latin America, Alexandr Schetinin, highlighted Maduro’s statements as a testament to the growing influence of BRICS in the international arena. Venezuela’s endeavor to join BRICS aligns with the larger trend of countries seeking to diversify their partnerships and engage in mutually beneficial collaborations. The appeal of BRICS lies not only in its economic potential but also in its diplomatic and strategic significance. As the world undergoes shifts in power dynamics, alliances like BRICS offer member nations a platform to voice their perspectives and collectively shape global affairs. 

The move to join BRICS could provide Venezuela with an opportunity to forge deeper connections with major economies, fostering economic growth and resilience. By participating in BRICS initiatives and dialogues, Venezuela aims to strengthen its position on the global stage while contributing to the evolution of a more balanced and multipolar world order. Venezuela’s formal proposal to join the BRICS bloc underscores the country’s commitment to fostering international collaboration and embracing a multipolar vision. 

President Maduro’s aspirations align with the objectives of BRICS, and the application signifies Venezuela’s determination to engage constructively with the alliance’s member nations. As BRICS continues to evolve and expand, the inclusion of new members like Venezuela could pave the way for increased cooperation and coordination among diverse economies in an ever-changing global landscape.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Venezuela submits formal proposal to join BRICS bloc

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月6日 06:51
Next 2023年8月6日 08:04

Related articles

  • SEC lawsuits cause $4 billion exodus from affected exchanges

    TL;DR Breakdown The SEC lawsuits against Binance and Coinbase have led to more than $4 billion in outflow. Exchanges continue to process withdrawals despite looming issues. U.S. Securities and Exchange Commission (SEC) lawsuits against cryptocurrency exchanges Binance, Binance.US, and Coinbase have triggered a significant outflow of approximately $4 billion in deposits, as reported by blockchain data. SEC lawsuit causes $4 billion in outflows Data from blockchain analytics firms Nansen and Glassnode reveal that between Monday and Thursday, the three exchanges collectively experienced a net outflow of $3.1 billion through the Ethereum network, along with an additional $864 million in bitcoin (BTC). Net outflow indicates that the withdrawals surpassed incoming deposits. Despite the regulatory challenges, the withdrawals were processed in an orderly manner by the exchanges throughout the week. The SEC initially filed a lawsuit on Monday against Binance, its U.S.-based counterpart Binance.US, and CEO Changpeng “CZ” Zhao, citing violations of federal securities laws. Subsequently, on Tuesday, the agency sued Coinbase for allegedly offering unregistered securities to the public. These actions created a sense of unease in the cryptocurrency market, leading…

    Article 2023年6月13日
  • Singapore’s Monetary Authority unveils innovative guidelines for crypto assets

    TL;DR Breakdown The Monetary Authority of Singapore (MAS) proposes comprehensive guidelines for regulating crypto assets. Purpose Bound Money (PBM) aims to revolutionize digital currency transactions by allowing seamless transfers across platforms and currencies. PBM empowers users to customize transaction characteristics and enhance the functionality of digital currencies. Description The Monetary Authority of Singapore (MAS) has taken a significant stride towards creating a uniform regulatory framework for using crypto assets. MAS has proposed a comprehensive set of guidelines to govern the evolving digital currency landscape in a groundbreaking move. The move aims to provide clarity and security while fostering innovation in cryptocurrencies. Purpose-bound money … Read more The Monetary Authority of Singapore (MAS) has taken a significant stride towards creating a uniform regulatory framework for using crypto assets. MAS has proposed a comprehensive set of guidelines to govern the evolving digital currency landscape in a groundbreaking move. The move aims to provide clarity and security while fostering innovation in cryptocurrencies. Purpose-bound money (PBM) to revolutionize digital currency transactions Today, MAS released a whitepaper outlining its groundbreaking initiative, Purpose Bound Money (PBM)….

    Article 2023年6月24日
  • Winklevoss twins warn democrats of alienating youth voters with anti-crypto stance

    TL;DR Breakdown Crypto billionaires Cameron and Tyler Winklevoss warn that the Democratic Party’s anti-crypto stance could alienate young voters and cost them the 2024 election. The Winklevoss twins highlight the growing popularity of cryptocurrencies among Millennials and Gen Z, urging Democrats to reconsider their regulatory approach to retain support from this influential demographic. Youth voters, a crucial voting bloc for Democrats, have shown significant engagement with cryptocurrencies, making crypto policy an important factor in their electoral decisions. Renowned crypto billionaires Cameron and Tyler Winklevoss have issued a cautionary message to the Democratic Party, emphasizing the risk of losing crucial youth voters due to their perceived “war on crypto.” The twin brothers, who co-founded the Gemini cryptocurrency exchange, contend that the party’s anti-crypto stance, championed by figures like Senator Elizabeth Warren and SEC Chair Gary Gensler, may lead to significant electoral setbacks in the upcoming 2024 elections. The @SenWarren and @GaryGensler war against crypto is going to alienate an entire generation of would-be Democrats. Winning the youth vote w/ “get out the vote” is key part of Dem playbook. Dems believe…

    Article 2023年6月15日
  • Twitter-X secures license for crypto payments and trading

    TL;DR Breakdown Twitter-X has obtained the Rhode Island Currency Transmitter License, enabling it to offer cryptocurrency payments and trading services within the United States. The license aligns with Twitter-X’s recent initiatives in the crypto space, such as integrating Bitcoin tips and supporting NFTs as profile pictures. Under Elon Musk’s leadership, the acquisition of the license marks a significant step in Twitter-X’s vision to become an “everything app,” potentially offering a broad range of financial services. Description Twitter-X, the rebranded social media platform formerly known as Twitter, has secured the Rhode Island Currency Transmitter License, a crucial regulatory approval that paves the way for the company to offer cryptocurrency payments and trading services in the United States. Social media giant expands into crypto services with new license The license, granted on August … Read more Twitter-X, the rebranded social media platform formerly known as Twitter, has secured the Rhode Island Currency Transmitter License, a crucial regulatory approval that paves the way for the company to offer cryptocurrency payments and trading services in the United States. Social media giant expands into crypto…

    Article 2023年8月30日
  • Sturdy Finance puts $100,000 on the line: will the hacker take the bounty?

    TL;DR Breakdown Sturdy Finance offers a $100,000 bounty to recover stolen DeFi funds. An exploit in Sturdy Finance’s price oracle leads to an $800,000 loss. Bounty offerings to hackers show promise in recovering compromised assets. Sturdy Finance, a decentralized finance (DeFi) platform, has taken an unconventional approach to recovering stolen funds. After suffering a loss of approximately $800,000 due to a recent exploit, the platform has offered a remarkable $100,000 bounty to the hacker responsible for the attack. This move, which aims to incentivize the return of the remaining funds, represents a growing trend in the DeFi space. The exploit occurred on June 12 and was attributed to vulnerabilities in Sturdy Finance’s price oracle and executed through a reentrance attack. The platform took Swift action, with all markets being temporarily paused to mitigate other risks. Assurances were given to the community that no additional funds were in jeopardy. In an unexpected turn of events, Sturdy Finance’s founder, Sam Forman, took to Twitter a mere day after the hack to announce the bounty offer. He believed in the evolving landscape of…

    Article 2023年6月16日
TOP