HAVANA, October 14. /TASS/. The upcoming BRICS summit in Kazan, scheduled for October 22-24, will signify the emergence of a multipolar world order to replace the dominance of Western countries, the Nicaraguan 19Digital website said.

According to the portal, the summit in Kazan will hold "strategic significance" for strengthening a new democratic world order. It will also "highlight the failure of the Western sanctions policy" due to the presence of many non-BRICS countries at the summit. The publication emphasizes that a key advantage of BRICS is that none of its members question the national sovereignty of other states and that they all respect each country's political and legal models.

The portal added that BRICS members may soon establish a new international financial system, with its creation supported by the majority of the world's countries "due to their desire to break free from the suffocating networks of the collective West." This development would be "deadly for the economy" of the US, which is "already burdened by a $35 trillion national debt," 19Digital emphasized.

In September, Russian Foreign Minister Sergey Lavrov stated that a report outlining options for creating alternative payment mechanisms for transactions between BRICS countries would be prepared by the summit in Kazan. In October, Brazilian Foreign Minister Mauro Vieira also noted a growing number of countries interested in joining the association, with around 30 nations expressing a desire to join BRICS at some stage.

Established in 2006, the BRIC group was made up of Brazil, Russia, India and China. In 2011, South Africa joined the group, adding the "S" to the acronym. Now it has ten members after six new countries, including Argentina, were invited to join the association in August 2023, but Argentina refused from joining BRICS in late December, while the other five nations, namely Egypt, Iran, the United Arab Emirates, Saudi Arabia, and Ethiopia, became full-fledged members of BRICS from January 1, 2024.

Russia took over the BRICS’ year-long presidency on January 1, 2024. Russia’s presidency features more than 250 various events, with a BRICS summit in Kazan on October 22-24, 2024 being the central one.