Russia Grants Brazil's Request to Swap BRICS Presidency in 2024

MOSCOW (Sputnik) - Russia has agreed to an earlier request by Brazil to swap its 2025 presidency in BRICS with Brasilia in order to give the Latin American nation free reins to host the G20 summit in 2024 without having to also preside over the regional economic bloc that year, the Russian Foreign Ministry told Sputnik.

Earlier in January, Brazil asked its BRICS partners to consider delaying its presidency of the group by one year, namely from 2024 to 2025, as the country will also chair the G20 in 2024.

"In 2019, Brazil formally asked Russia to change the order of the BRICS presidency on an exceptional basis due to Brasilia's plans to lead the G20 in 2024. Of course, we responded positively to the Brazilian partners' request. The agreement was supported by the other members of the group and was secured through an exchange of diplomatic notes," the ministry said.

BRICS is an association of the world's major developing economies which was formed in 2006 to enhance cooperation among these nations and elaborate common approaches to global economic challenges. The association comprises Brazil, Russia, India, China and South Africa but is looking to accept new members. Potential candidates for accession are Argentina, Egypt, Iran, Saudi Arabia and Turkey.