{"id":588707,"date":"2023-06-15T00:00:00","date_gmt":"2023-06-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/15\/egypt-submits-brics-membership-bid-russian-official\/"},"modified":"2023-06-15T00:00:00","modified_gmt":"2023-06-15T00:00:00","slug":"egypt-submits-brics-membership-bid-russian-official","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/15\/egypt-submits-brics-membership-bid-russian-official\/","title":{"rendered":"Egypt submits BRICS membership bid -Russian official"},"content":{"rendered":"

<\/span>Egypt has officially submitted an application to join the BRICS alliance<\/span>, Russia\u2019s <\/span>ambassador to Egypt Georgy Borisenko told <\/span>Russian news agency TASS<\/a><\/span>. \u201cEgypt has submitted its application to join the BRICS group because one of the endeavors that BRICS is currently pursuing is to shift trade to alternative currencies, be it national currencies or a new common currency. Egypt is very much interested in that,\u201d the agency quotes Borisenko as saying.<\/span><\/p>\n

Remember:<\/span> Egypt and Russia are working to <\/span>reduce the use of the USD<\/a><\/span> in bilateral trade in favor of the RUB. BRICS members are considering creating a common currency that will allow them to drop the greenback.<\/span><\/p>\n

We\u2019re already a member of the BRICS bank:<\/span> Egypt earlier this year <\/span>became a member<\/a><\/span> of the BRICS\u2019 New Development Bank (NDB), a USD 100 bn multilateral lender that invests in infrastructure in its member countries.<\/span><\/p>\n

Nearly 20 countries have recently expressed interest in joining the BRICS,<\/span> including Saudi Arabia, Iran, Argentina, the UAE, Algeria, Bahrain, and Indonesia, <\/span>Bloomberg<\/a><\/span> reported. <\/span><\/p>\n

AND- Egypt is no longer <\/span>leading<\/a><\/span>the Red Sea task force:<\/span> Egypt\u2019s navy turned the com<\/span>mand of the Red Sea multinational task force over to the US Navy on 12 June, six months after taking the reins for the first time.<\/span> (<\/span>US Navy statement<\/a><\/span>)<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

BRICS membership could boost trade in currencies other than the USD<\/p>\n","protected":false},"author":1,"featured_media":588708,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7262],"tags":[1034,7270,168,6539,72,2234,132],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-588707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-diplomacy","tag-armed-forces","tag-brics","tag-diplomacy","tag-egypt-russia-relations","tag-enterpriseam","tag-foreign-exchange","tag-trade","wpautop","entry"],"acf":{"mongo_id":"c29c4488-a681-4936-9fa2-e01186676bcc","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/748.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Egypt submits BRICS membership bid -Russian official. PLUS: Egypt hands over Red Sea task force baton to US","related_issue":[588698],"teaser":"BRICS membership could boost trade in currencies other than the USD","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.5f03cf33-6942-44e9-a192-5302f01c1e4c.mp3"},"yoast_head":"\nEgypt submits BRICS membership bid -Russian official - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/15\/egypt-submits-brics-membership-bid-russian-official\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt submits BRICS membership bid -Russian official\" \/>\n<meta property=\"og:description\" content=\"BRICS membership could boost trade in currencies other than the USD\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/15\/egypt-submits-brics-membership-bid-russian-official\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-15T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/748.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/15\/egypt-submits-brics-membership-bid-russian-official\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/15\/egypt-submits-brics-membership-bid-russian-official\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt submits BRICS membership bid -Russian official\",\"datePublished\":\"2023-06-15T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/15\/egypt-submits-brics-membership-bid-russian-official\/\"},\"wordCount\":220,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/15\/egypt-submits-brics-membership-bid-russian-official\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/748.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Armed Forces\",\"BRICS\",\"DIPLOMACY\",\"Egypt-Russia relations\",\"EnterpriseAM\",\"foreign exchange\",\"trade\"],\"articleSection\":[\"Diplomacy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/15\/egypt-submits-brics-membership-bid-russian-official\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/15\/egypt-submits-brics-membership-bid-russian-official\/\",\"name\":\"Egypt submits BRICS membership bid -Russian official - 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