The new president of Argentina, Javier Milei, has withdrawn the decision to join the BRICS organization, giving a blow to the Russian and Chinese states, which were the main ones in this organization, the rival of the G7.
In a letter to the leaders of Brazil, Russia, India, China and South Africa, Milei said the decisions taken by the previous government had been reviewed.
The BRICS countries are often seen as a counterweight to the Western-led world.
Argentina was among several countries expected to join the group, it reports bbc.
It would be admitted to the BRICS club on January 1, along with Egypt, Iran, Ethiopia, Saudi Arabia and the United Arab Emirates.
The reversal comes as Miley, who won election in November, is taking radical decisions to repair the South American nation's ailing economy.
He succeeded Alberto Fernandez, whose views were more aligned with those of existing members of the bloc.
Otherwise, BRICS members Brazil and China are Argentina's two largest trading partners, but the US is not far behind, making it imperative to maintain good working relations with all three countries. /Telegraph/
