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BRICS advocates new means of payments and new members meet in Rio de Janeiro to boost alliances in the Global South

  Rio de Janeiro, one of Brazil's most symbolic cities, was the setting for a historic meeting between the BRICS countries, which now includes new strategic members. At a time when the world is undergoing intense geopolitical and economic transformations, the BRICS are advocating for new means of payment and new members are meeting in Rio de Janeiro with the clear mission of strengthening ties between emerging nations and proposing real alternatives to traditional models of global trade and finance. This meeting marked the beginning of a new, more inclusive and representative phase, with a focus on strengthening the Global South. What is BRICS and why is this meeting important? BRICS is a group originally formed by Brazil, Russia, India, China and South Africa. Together, these nations represent a significant portion of the global economy, the world's population and the planet's natural resources. The big news, however, is the entry of new members into the group. With this, ...

Maduro challenges Guyana and declares: 'We will recover Essequibo for the Venezuelan people

On Sunday (25), Venezuelan President Nicolás Maduro declared that, "sooner or later", Guyana will need to "recognize Venezuelan sovereignty" over the Essequibo territory, a region rich in natural resources that has been disputed by both countries for over a hundred years.


For the first time, Venezuelans participated in a vote to choose representatives who will deal with issues related to the disputed area, after the enactment of a law that transforms the vast region into one of the country's 24 states.


The controversy over the 160,000 square kilometers of Essequibo intensified in 2015, when oil deposits explored by ExxonMobil were discovered. While Guyana has appealed to the International Court of Justice (ICJ) to validate the 1899 arbitration award — which defined the current borders and is rejected by Caracas —, Venezuela bases its argument on the 1966 Geneva Agreement, signed before Guyana's independence from the United Kingdom, which nullifies the previous award and provides for a negotiation process.


"Sooner or later, Irafaan Ali, president of Guyana and ally of ExxonMobil, will have to sit down with me and accept Venezuela's sovereignty," said Maduro after voting in the elections that elected a governor and deputies for the Essequibo region.


In turn, Ali classified this election as a "threat" to his country, claiming that it was an action within the context of "Chavista propaganda".


The positions of governor, eight deputies and regional legislative representatives elected for Essequibo have, for now, symbolic value, since the area remains under Guyanese control. Even so, Maduro celebrated: “We are witnessing the emergence of a new Venezuelan sovereignty.” According to him, Guyana is illegally occupying the territory as a legacy of British rule. Despite the exchange of accusations, Presidents Maduro and Ali met in December 2023 to try to ease tensions and seek a peaceful way out of the impasse. Still, the fiery speeches continue. The ICJ even called for the elections to be suspended, but the Venezuelan government went ahead. “This is a historic dispute, and no country should interfere,” said Maduro. “With a designated governor, our own budget and my full support, we will retake Essequibo for the Venezuelan people.”
 

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