Business news from Ukraine

Business news from Ukraine

Argentina wants to withdraw from BRICS

Argentine authorities have officially informed the leaders of the BRICS member countries of their decision not to join the association, Argentine newspaper Clarin reported Friday, citing sources in the Argentine government.

“The government has sent letters with this information to the presidents of each of the BRICS countries to make official the decision made a few weeks ago,” the newspaper wrote.

Later, Argentine President Javier Milay confirmed the country’s refusal to join the association in official letters sent to the leaders of BRICS member countries.

“Some decisions taken by the previous government will be reconsidered. Among them is the creation of a specialized unit for the country’s active participation in BRICS,” Milei said in a letter to Brazilian President Luiz Inacio Lula da Silva.

“At this stage, Argentina’s accession to BRICS as a full member as of January 1, 2024, does not seem appropriate,” Miley added.

Milay, who came to power earlier this year, opposed Argentina’s accession to BRICS as early as during his election campaign. In late November, Diana Mondino, who was then set to take over as foreign minister, said that “Argentina will not join BRICS” because it could not make the contribution to join the BRICS New Development Bank.

Argentina, along with Egypt, Ethiopia, Iran, Iran, Saudi Arabia and the UAE, was invited to join the grouping as of January 1, 2024.

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