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Cuba to Join & Accept BRICS Currency in 2024?


Following the expansion announcement at its 2023 annual summit, all eyes have been set on who could eventually join the BRICS collective. Susbeuqnlety, with its global cooperations growing by the day, that list has started to take shape. Amid recent discussions with Russia, could Cuba be set to join & accept BRICS currency in 2024?

Indeed, those expansionary theories have coincided with the BRICS development of its local currencies. Although its embrace of de-dollarization and promotion of local currencies has been integrated, its work on its native assets continues. For the nations seeking to join the alliance within this calendar year, the development of that currency could play a crucial role.

Source: The National Interest

Also Read: BRICS: 3 Ways the Alliance is Dethroning the US Dollar in 2024

Cuba Could Be Set to Join BRICS in 2024 After Russia Talks

For much of the last year, the BRICS economic alliance has dominated headlines. Its expansion plan that invited 6 countries to join its ranks was 2023 most important geopolitical development. Moreover, the alliance has assured that it has no desire to slow down its growing expansion plans.

Therefore, the world is awaiting just what countries could eventually join the bloc. Moreover, with its native currency presumably in development, these countries will likely adopt it. With recent discussions with Russia emerging, could Cuba be one of the nations set to join & accept BRICS currency in 2024?

new brics countries flags
Source: Getty Images

Also Read: BRICS: US Risks Fiscal Crisis as Borrowing Soars, Warns IMF Economist

A recent report stated that Cuban President Miguel Diaz-Canel has met with Russian Foreign Minister Sergey Lavrov. Furthermore, the meeting ended with both sides indicating increased cooperation to be a reality soon. Subsequently, Cuba’s entry into the alliance is a potential development.

“We have noted the continuing, even growing interest of Cuban friends in interaction with BRICS,” Lavrov said after the meeting. “Russia, as the country chairing the association this year, will support such a mindset.”

There is no telling what that support would look like, but the recognition of interest from both sides is telling. India previously confirmed that more than 30 nations are seeking to join the alliance in the coming year. Therefore, this could prelude who one of those joining nations could be.

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