BRICS Rejects Implementation of Unilateral Sanctions

BRICS nations have expressed deep concern over unilateral restrictions imposed on trade and financial transactions, including tariff increases, according to a joint statement released on Friday by BRICS finance ministers and central bank governors.

“We remain very concerned about the unilateral implementation of various policies related to trade and finance, including tariff increases and non-tariff measures that distort trade and are inconsistent with World Trade Organization (WTO) rules,” the statement read.

The ministers noted that the heaviest pressure is being felt by emerging markets and developing economies, following their meeting in Mumbai, India, on Thursday.

The BRICS finance ministers and central bank governors reaffirmed their support for an open, transparent, inclusive, non-discriminable, and rules-based multilateral trading system, with the WTO serving as its primary foundation.

The Indonesian delegation, led by President Prabowo Subianto, officially participated in the BRICS Summit series in Rio de Janeiro, Brazil.

US President Donald Trump has stated that he will impose 100% tariffs on BRICS member nations if they create a new currency.

In 2025, Indonesia officially joined BRICS, following Iran, Egypt, Ethiopia, and the United Arab Emirates, which were accepted in early 2024.

The Chairman of the National Economic Council (DEN), Luhut Pandjaitan, also commented on Indonesia’s full membership in BRICS, noting that the benefits of joining the bloc (comprising Brazil, Russia, India, China, and South Africa) are not yet clearly visible or promising.