BRICS Summit Explores Expansion and Closer Ties with Iran, Saudi Arabia, and UAE.

Foreign ministers of Iran, Saudi Arabia, and the UAE attended the BRICS meeting in South Africa, as the bloc considers expanding its membership to counterbalance Western powers. Saudi Arabia is in talks to join BRICS' lender bank, the New Development Bank. The bloc is currently made up of Brazil, Russia, India, China, and South Africa. The ministers held bilateral meetings with counterparts from other countries. Iran submitted an application last year to join as an observer state. The bloc was portrayed as a champion of the global South by South African counterpart Naledi Pandor. Iranian officials have been pursuing "de-dollarization" in trade with BRICS member states.