June 9, 2024

TURKEY: Huge News! Turkey To Join BRICS! While They Move Away From The EU And US. BRICS Currency Announced! Is It Gold Backed?

Cyrus Janssen published June 9, 2024: Turkey Just Changed the Entire Future of Europe with THIS One Move! Turkey to join BRICS! It's official, Turkey is moving away from the EU and will move closer to BRICS, China, and Russia. Turkey has been a NATO member since 1952 and this is the first time we've seen a NATO member shift away from the US and EU and move closer to BRICS. What does this mean for the future of Europe and geopolitics around the world? Let's break it down!
Lena Petrova published June 5, 2024: 🚨BRICS IS EXPANDING: Turkiye, a NATO Member, Announces Plans to Join BRICS Bloc in 2024.
APMEX pubilshed April 28, 2024: BRICS Currency Announced! Is it Gold Backed? In this week’s video, we look at Russia’s announcement of an official BRICS currency. There has been speculation and rumors of this currency for some time, and one major theory is that it would be backed by a basket of commodities including gold. However, the Kremlin recently announced they have almost completed a digital currency based on blockchain technology. Backed by gold or not, if a new BRICS currency becomes internationally adopted for trade, the U.S. Dollar will lose value. If U.S. Dollar’s value decreases, we expect the price of gold to increase. While there is no official launch date yet, dismantling the dollar will take time and we don’t expect it to go down without a fight. In the meantime, we will keep an eye out for any official launch date and stay ready to keep viewers informed.

Middle East Eye
written by Ragip Soylu in Ankara
Saturday June 8, 2024

Turkey has made a strategic move to join the Brics economic bloc earlier this year, three Turkish officials with knowledge of the matter told Middle East Eye.

Brics, an acronym for its early members - Brazil, Russia, India, China, and South Africa - is seen likely by some commentators to dominate the global economy in the coming decades. Often seen as an alternative to the G7, which is led primarily by western nations, Brics represents a significant shift in global power dynamics. If Turkey's bid is successful, it would become the first Nato ally to join the bloc.

The Kremlin mentioned that Turkey's interest will be a topic of discussion at the Brics summit, chaired by Russia, on Monday and Tuesday in Nizhny Novgorod. However, it cautioned that the organisation is unlikely to accept every membership application. Turkish Foreign Minister Hakan Fidan confirmed his attendance at the summit last week.

Last August, Brics announced plans to double its membership, extending invitations to, among others, Saudi Arabia, Egypt, Iran and the United Arab Emirates. Turkish President Recep Tayyip Erdogan has previously expressed interest in joining Brics, but formal discussions had not taken place until now.

Following the decision by Brics to expand, the Turkish foreign ministry began assessing the potential benefits and costs of membership, according to a Turkish official who spoke to MEE.

Turkey's interest in an economic platform led by China and Russia has raised eyebrows in European capitals. A second Turkish official told MEE that Turkey is attracted to Brics because it does not require political or economic commitments or agreements.

"We don't see Brics as an alternative to Nato or the EU," the official said. "However, the stalled accession process to the European Union encourages us to explore other economic platforms."

The official added that Turkey's "on-paper allies" often overlook Ankara's security concerns and deny it advanced weaponry. "We would like to be part of every multilateral platform, even if there is only a slight chance of benefit to us," the official explained.

Among others, Hayati Unlu, an academic at Turkey's National Defense University, argues that Turkey's interest in Brics should not be seen as a full pivot away from the west. "Turkey wants to develop a network of relationships complementary to its ties with the west to overcome economic difficulties," he said.

Unlu noted that traditional global institutions, such as the United Nations and the World Trade Organization, are increasingly seen as outdated, leading to the rise of alternative platforms such as the Quad (a security dialogue involving Australia, India, Japan and the US) or the expanding Brics, known as Brics Plus.

Leon Rozmarin, an expert on Russian affairs at Northeastern University in the US, said: "It is better to eat at both weddings, so to speak. By building cooperation with both the west and key states and structures of the rest, Turkey aims to occupy a unique role that not every country can achieve."

Rozmarin told MEE that Turkey's pursuit of Brics aligns with its policy of maintaining trade ties with Russia, even after the 2022 invasion of Ukraine. "If Turkey does join, it is not necessarily an anti-western move because India and Brazil have been in this organisation from the very start," he said.

However, the first Turkish official expressed doubts about the viability of Brics membership, given the bloc's recent focus on de-dollarisation and Ankara's agreements with countries in the region to establish settlement mechanisms in local currencies.

"We don't have significant trade with Brics countries, except for China," the official said, noting that Turkey still conducts more than half of its annual trade with the European Union.

The official also questioned Brics's political influence, suggesting that the bloc's impact remains limited. "Brics could be more meaningful in the future if it becomes politically more important and gains resonance with international public opinion," the official commented.

Unlu believes that the very participation of middle powers like Turkey could enhance Brics's significance, as these nations seek a multipolar world order not dominated by superpowers.
Strait Talk published June 7, 2024: Russia Welcomes Türkiye's Growing Interest in Co-operating with BRICS.

Named after its founding members, BRICS a group of emerging economies led by Russia and China has been touted as a serious challenger to the Western-led economic order. During his recent trip to Beijing, Turkish Foreign Minister Hakan Fidan said that in addition to a Customs Union with the EU, Ankara was exploring new trade opportunities with groups like BRICS. Does Türkiye have similar interests with the bloc?

Strait Talk, hosted by Ayse Suberker, is TRT World’s programme that features in-depth analysis of Türkiye’s role in the world.

Harvey Dzodin
Senior Fellow at the Centre for China and Globalization

Suay Nilhan Acikalin
Associate Professor at Ankara Haci Bayram Veli University

Gregory Simons
Research Specialist
Reuters News
written by Staff
Tuesday June 4, 2024

MOSCOW/ANKARA - Russia welcomes Turkey's reported desire to become part of the BRICS group of nations, Kremlin spokesman Dmitry Peskov said on Tuesday, saying the subject would be on the agenda of the organisation's next summit.

Peskov said there was heightened interest in BRICS - a group comprising Brazil, Russia, India, China, South Africa, Ethiopia, Iran, Egypt, and the United Arab Emirates - from various states, but said it was unlikely the grouping could completely satisfy all interested nations.

On Monday, Turkish Foreign Minister Hakan Fidan began a visit to Beijing, the highest-level visit by a Turkish official to BRICS member China since 2012. Fidan held talks with Chinese counterpart Wang Yi and other officials during the visit.

Asked whether Turkey would want to join BRICS during a talk at the Center for China and Globalization on Monday, Fidan said "we would like to of course, why would we not?". However, he did not elaborate further.

Fidan was cited by Turkey's state-run Anadolu news agency as saying Ankara was also eyeing cooperation with BRICS members and that he would attend a planned meeting of the group next week in Russia.

It was not immediately clear whether Ankara would take steps to join the BRICS group, as Ankara has not previously stated its desire to formally join.

NATO member Turkey had come under fire by its Western allies in recent years over its ties with Russia, with some saying that its "axis" was shifting away from the Western military alliance.

Ankara has rejected this, saying it remained a committed member of the alliance and maintained its goal of full membership of the European Union.

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