The Brics group of countries has expanded to include Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates.
The announcement on Monday coincided with Russia assuming the Brics chairmanship on 1 January.
Russian president Vladimir Putin said the inclusion of the five nations as full members of Brics – a group consisting of Brazil, Russia, India, China and South Africa – reflects the growing influence of the association, now comprising 10 countries.
“This decision, endorsed during the 15th Brics summit in August 2022, underscores the organisation’s increasing role in international affairs,” said Putin.