Argentina Postpones BRICS Membership

The European Union would interpret Argentina’s entry into the BRICS group of countries as an “erroneous signal.”

At the third summit between the European Union and the Community of Latin American and Caribbean States (CELAC), which for two days (July 17-18) brought together in Brussels 48 heads of state and government of the two continents, the “ongoing war against Ukraine” was addressed with “deep concern” rather than “condemnation,” as desired by the EU, led by Poland and the three former Soviet Baltic states.

“This war,” the document says, without ever mentioning Russia, “continues to cause enormous human suffering and aggravate existing weaknesses in the global economy, limiting growth, driving up inflation, disrupting supply chains, increasing energy insecurity, and fueling and increasing the risks of financial instability.”

Nevertheless, Europe managed to drag out of Argentina a promise to “postpone” for an unspecified period the accession of Buenos Aires to the BRICS group of countries, which includes Brazil, Russia, India, China, and South Africa. According to the Bloomberg news agency, “The EU explained its position by the fact that in the current geopolitical situation, Argentina’s entry into BRICS could be interpreted as an erroneous signal.” The agency’s “authoritative” sources guaranteed that Argentina – Buenos Aires sent an official membership request as early as June 2022 – “will not join the group as a full member in the foreseeable future.”

The subject of Argentina’s entry into BRICS was raised during a meeting between Italian Prime Minister Giorgia Meloni and President of the Republic of Argentina Alberto Fernandez. In addition, the long bilateral meeting has focused on discussing the current state and prospects for the development of relations between Rome and Buenos Aires, new economic opportunities in the raw materials and energy sectors, the fundamental large Italian diaspora in Argentina, and the relations with the European Union.

According to international analysts, Argentina’s backtracking represents another blow to BRICS unity, following India’s decision not to support the transition to the group’s internal currency, which was supposed to replace the dollar in economic and trade exchanges between the BRICS countries.