In Geopolitics Today - Tuesday, June 28th
Iran Applies to Join BRICS, G-7 Unveils $600 Billion Global Infrastructure Plan, and other stories.
Iran Applies to Join BRICS
Iran has formally requested to join the BRICS group of major emerging economies, which includes Brazil, China, India, Russia and South Africa. An Iranian official has confirmed that the country has formally submitted an application to become a member of the group of emerging economies, and stated that joining the grouping would result in “added values for both sides.”
BRICS is the organisation that China and Russia pitch as an international framework that serves as an alternative to the West for emerging economies. The group in its current form represents roughly 41 percent of the global population, accounts for a quarter of global GDP, and 16 percent of world trade. Iran, along with Russia, is a major oil and gas resource holder, while China is the world's top oil importer and one of the largest gas importers. Recent years have seen Iran cultivate closer ties with both China and Russia, with China now functioning as the main market for Iranian oil exports following the imposition of strict sanctions against Iranian energy exports by the European Union and the United States.
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Russia to Provide Nuclear Capabilities to Belarus
Russia has vowed to transfer nuclear weapons capabilities to Belarus. Speaking in St Petersburg, Russia’s President Vladimir Putin said Russia would modify Belarusian Su-25 warplanes to be capable of carrying nuclear weapons and facilitate the transfer of Iskander-M missile systems to Belarus in both its conventional and nuclear versions.
Belarus claims that an increase in military patrols of aircraft belonging to the United States of America and other NATO member states have raised security concerns as Minsk claims the aircraft conducting flights close to the Belarussian border are trained to carry nuclear warheads. The Iskander-M missile system promised by Moscow is a Russian-built short-range ballistic missile system that uses both optical and inertial guidance systems, and can fire a diverse set of payloads up to a range of 500 km. The details of the transfer are said to be still at the negotiation phase and will be worked out by the ministries of defence of the two countries.
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G-7 Unveils $600 Billion Global Infrastructure Plan
Leaders of the G-7 grouping pledged $600 billion toward a new global infrastructure initiative aimed at countering China’s vast Belt and Road initiative. Leaders from the G-7 constituent countries concluded a summit by unveiling the Partnership for Global Infrastructure and Investment (PGII) that will deliver “game-changing” projects in developing countries, thereby strengthening the global economy and enhancing US national security.
China’s Belt and Road Initiative was launched in 2013 and has projects in more than 100 countries. Since its launch, the US and its allies have accused China of pursuing “debt-trap diplomacy” by providing countries with financing to build infrastructure. As China’s Belt and Road Initiative continues to be popular with developing countries, the US and its allies have decided to compete with China in delivering major infrastructure investments abroad. During the G-7 summit, the US pledged to make available $200 billion for developing economies to boost their infrastructure via various grants, federal funds, and private investment over the next five years. At the same time, Europe pledged $316 billion while Japan committed $65 billion to the PGII over the next five years.
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Cooperation Opportunities Between the Middle East and Southeast Asia
Countries in the Middle Eastern are strengthening ties with Asian countries as part of an eastward policy shift. In recent years, ASEAN-Middle East relations have experienced a noticeable growth as ASEAN’s geographical position and its growing economy have worked to attract investment from the Middle East. The Brunei Darussalam–Indonesia–Malaysia–Philippines East ASEAN Growth Area (BIMP-EAGA) is a geopolitical sub-region of ASEAN that benefits from increased cooperation for countries of the Middle East.
Middle Eastern countries are looking to develop reciprocal political ties with BIMP-EAGA constituents as their stances on several regional and international affairs coincide. For instance, Malaysia and Indonesia already have extensive ties with countries in the Middle East, and both have previously played mediating roles for conflicts in the region. Moreover, given that states in the Middle East and the BIMP-EAGA sub-region suffer from violent extremist of a similar kind, there may be value in the countries of the Middle East and BIMP-EAGA extending their partnerships in security and counter-terrorism.
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