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The BRICS nations (Brazil, Russia, India, China, and South Africa, plus new members like the UAE, Egypt, Ethiopia, and Iran) have been fired up about ending reliance on the US dollar. At this year ...

Update, 8/24/2023, 8:40 a.m. ET: This article was updated to include the names of the nations newly admitted to BRICS at the summit.

A BRICS currency “increases our payment options and reduces our vulnerabilities,” he told the [USN:L8N39J2WE TEXT:“summit’s”] opening plenary session.

The BRICS group has become a major political force in the last two decades, building on its desire to create a counterweight to Western influence in global institutions. The group’s expansions ...