Trump has threatened to impose 100% tariffs against the bloc if they take any moves to undermine the dollar. Last year, at the summit hosted by Russia in Kazan, the Kremlin sought to develop alternatives to U.S.-dominated payment systems which would allow it to dodge Western sanctions imposed after Russia’s invasion of Ukraine in February 2022

Turkish Foreign Minister Hakan Fidan met with Kazakh Deputy Prime Minister and Foreign Minister Murat Nurtleu on Monday in Brazil. The two held talks on the sidelines of the BRICS summit in Rio de Janeiro, according to the Turkish Foreign Ministry. Further details on the meeting were not immediately available.

President Donald Trump said the U.S. will impose an additional 10% tariff on any countries aligning themselves with the "Anti-American policies" of the BRICS group of developing nations, whose leaders kicked off a summit in Brazil on Sunday.