The BRICS bloc now holds over $60 trillion in financial assets, representing more than half of the world’s total, signaling a shift toward a multipolar global economy and stronger South-South cooperation.

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In a powerful demonstration of the growing economic influence of the Global South, Russian Finance Minister Antón Siluánov announced that the combined financial assets of BRICS countries have exceeded $60 trillion, accounting for over 50% of the world’s total financial assets. This milestone was revealed during the board meeting of the New Development Bank (NDB) held alongside the BRICS summit in Rio de Janeiro, Brazil.

Minister Siluánov emphasized the demographic and economic weight of the BRICS and broader Global South nations, which together represent nearly 70% of the world’s population and approximately 60% of global GDP. This remarkable growth underscores the shift in global economic power away from traditional Western centers toward emerging economies united in the BRICS alliance.

“The New Development Bank is a vital instrument for channeling investments not only within the BRICS but across the Global South,” Siluánov stated, highlighting the bank’s role in financing infrastructure and sustainable development projects that foster equitable growth.

🇷🇺🚨 Russian Finance Minister Anton Siluanov:
The total financial assets of BRICS countries have reached $60 trillion!

An economic bloc that's reshaping the balance of global financial power. pic.twitter.com/0AivqYq7zN

— Middle Eastern Affairs (@Middle_Eastern0) July 4, 2025

Founded in 2014 with an initial capital of $100 billion, the NDB has become a cornerstone for South-South cooperation, financing projects in local currencies that challenge the dominance of the U.S. dollar in global finance. This strategic financial independence is crucial for building a fairer international economic system free from unilateral coercive measures.

Kiril Dmitriev, director of the Russian Direct Investment Fund, recently noted that intra-BRICS trade reached $1 trillion, reflecting deepening economic ties and the bloc’s expanding role in shaping a new global order.

Expanding BRICS Membership and Influence

The BRICS group, originally composed of Brazil, Russia, India, China, and South Africa, has expanded to include Iran, Ethiopia, Egypt, the United Arab Emirates, and Indonesia as of 2025. This growth reflects the bloc’s appeal as a platform for countries seeking to assert sovereignty, economic independence, and multipolarity in global affairs.

The addition of partner states such as Cuba, Bolivia, and Malaysia further strengthens the alliance’s commitment to solidarity among developing nations and to resisting imperialist pressures.

The BRICS nations advocate for a multipolar world grounded in respect for international law, the central role of the United Nations, and the rejection of unilateral sanctions. Their collective vision seeks to build a harmonious world of lasting peace and shared prosperity, challenging the hegemony of Western financial and political institutions.

Some analysts forecast by 2040 the BRICS’ share of global GDP could rise to 45%, surpassing the G7’s declining influence. This transformative trend signals a historic realignment in global economic power, driven by cooperation, sovereignty, and social justice.

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