They're not going to establish a new reserve currency. The banksters won't allow it.
Besides, anyone thinking BRICS and their cohorts would be successful at it when they're all simply factory nations - at best - doesn't understand international trade settlement. Everybody, and I mean everybody, is clamoring for Eurodollars (US dollars in the foreign markets). There just isn't any to easily be had.
“They’re not going to establish a new reserve currency. The banksters won’t allow it.”
They allowed the petrodollar to be bypassed. I suspect the banksters with their low-quality depreciating currencies won’t really have much to say about it.